THE Bureau of Internal Revenue (BIR) said it will not accredit any receipt-printing companies which have any pending cases related to tax disputes.
Jun 022016
Jun 012016
A DEPARTMENT of Trade and Industry (DTI) official said an export recovery is expected once the effects of El Niño fade, and expressed confidence in the $100-billion target for 2017.
Jun 012016
DISTRIBUTION utility Manila Electric Co. (Meralco) is exploring the legal remedies available to it as the energy regulator finally implements rules that allow greater competition in the retail electricity market as well as open to eligible users full access to the country’s transmission grid and private utilities’ distribution system.
Jun 012016
Long before the lifeblood theory of taxation was laid down by the Supreme Court, the Roman philosopher, orator and political theorist Marcus Tullius Cicero (3 January 106 BC to 7 December 43 BC) stated: “Taxation is central to the existence and functioning of a nation, as well as to the functioning of its lower levels of government”. Under the Roman empire, paying taxes was an attribute of Roman citizenship which gave citizens the right to enforce their rights.
May 312016
A MEASURE seeking to upgrade the Bureau of Customs’ (BoC) ability to fast-track import processing and install safeguards against smuggling has been signed into law by President Benigno S. C. Aquino III.
May 312016
THE ENERGY Regulatory Commission (ERC) will be limiting the capacity of prospective power generating plants in the country’s three main island groups to protect the electricity grid against a “single contingency event” and its possible cost to consumers during an outage.
May 312016
DEMAND for office space in the Philippines will remain robust, as technological advances allow more companies to outsource work, according to real estate consultancy Jones Lang Lasalle, Inc. (JLL).
May 302016
INCOMING President Rodrigo R. Duterte’s choice as Agriculture Secretary, Emmanuel F. Piñol, said he will allow private traders to import rice after all, but will impose more rigid safeguards against smuggling.
May 302016
THE Japan International Cooperation Agency (JICA), in partnership with the Department of Trade and Industry (DTI), will undertake a two-year joint project that will help develop plans to improve the Philippine auto industry, helping it win a place in the global value chain (GVC).
May 302016
We often hear the phrase: “Taxes are the lifeblood of the Government,” as the main reason why collecting them is essential. However, there are instances when this should give way to the taxpayer’s right to claim a tax refund or credit. One such instance is a claim for tax refund or tax credit on input Value-Added Tax (VAT) arising from VAT zero-rated export sales. A taxpayer claiming this type of tax credit or refund must present at least three types of documents, as follows: