PROPOSALS to adjust the personal income tax regime appear “well justified” but necessitate new tax measures to offset losses to the treasury, according to a discussion paper from the Philippine Institute for Development Studies (PIDS).
Mar 162016
BusinessWorld Online: Economy
Mar 162016
ASIAN COUNTRIES took the lead in adopting investment policy measures that are mostly geared towards further opening up their economies, said the United Nations Conference on Trade and Development (UNCTAD) in a new report.
Mar 162016
It is basic in criminal law that all the elements of a crime must be proven beyond reasonable doubt to produce a conviction. Where the life, liberty or property of a person hangs in the balance, the degree of proof is moral certainty and the prosecution must rely on the strength of its own evidence to show the existence of guilt. In a recent decision promulgated on Jan. 4, the Court of Tax Appeals (CTA) sitting en banc had the opportunity to settle the issue of whether the officers of a corporate taxpayer may still be held solidarily liable for the civil liabilities attached to a tax offense even if they are acquitted in the criminal aspect of the case.
Mar 152016
PHILIPPINE EXPORTERS need to diversify their customer base and product lines to offset declining sales to the country’s major trading partners, the Finance department’s chief economist said.
Mar 152016
INFORMATION TECHNOLOGY (IT)-related jobs generated the highest salary offers at entry level, according to Web-based hiring company JobStreet.com.
Mar 152016
ING BANK N.V. expects new opportunities in wind energy projects in the Philippines even after the country reached an operational capacity of 400 megawatts (MW), which it said was the highest so far in the region.
Mar 142016
HOG raisers said the size of their herd is shrinking because of rampant smuggling and lobbied for the government to take action, while once more raising the prospect of a so-called “pork holiday” during which they will withhold supply from the market for five days.
Mar 142016
REMITTANCES likely grew by nearly 5% in January to remain at the $2 billion level, analysts at ANZ Research said, with a stronger dollar helping the indicator overcome its usual post-Christmas weakness.
Mar 142016
“I love the Philippines, I Pay My Taxes Right. It’s easy as RFP.” This was the tax campaign theme of the Bureau of Internal Revenue (BIR) launched in 2014. According to the BIR, the concept of love for the country was carried in the RFP campaign. RFP stands for Register, File and Pay which captures the basic steps that a taxpayer should follow to be able to comply with his obligation of “paying right taxes” for nation building. Failure to comply may result in significant financial consequences on the taxpayer, with imprisonment as a worst case.
Mar 132016
LOCAL GOVERNMENT units (LGUs) have raised concerns over the delayed release of their share in state revenue from mining, oil and gas companies.