DAVAO CITY — The launch of the Bureau of Internal Revenue’s (BIR) Large Taxpayers Service (LTS) office in the city yesterday is expected to help the agency meet its target collection of P1.829 trillion for 2017, which if accomplished would represent a gain of 16% year on year.
Have plans for the Holy Week? For individual and corporate taxpayers with an accounting year ending Dec. 31, plans for this upcoming Lenten season should include the preparation of the annual income tax filing. Why? Because this year’s due date falls on April 17th (since April 15th falls on Black Saturday which is a holiday). The timing can be a hassle considering that it is right after the holidays.
DAVAO CITY — Budget Secretary Benjamin E. Diokno identified the priority projects in Mindanao that are planned for construction starting this year or early 2018, including the Davao-Samal Bridge and the Mindanao Railway System.
THE Department of Agriculture (DA) said the unmilled rice harvest in the first quarter of 2017 rose more than 5% year on year with hybrid rice seed driving the expansion.
Ernst & Young (EY) recently conducted a Transfer Pricing Survey to determine how companies are addressing the Action Plans issued by the Organisation for Economic Co-operation and Development (OECD) under the Base Erosion and Profit Shifting (BEPS) project. The survey involved respondents in 36 jurisdictions and across 17 industries. As a background, the BEPS project was initiated at the request of G20 countries to address issues arising from the use of old tax frameworks that do not match current practice of doing business across borders.
THE Department of Environment and Natural Resources (DENR) has released an order realigning the agency to be more involved in developmental projects to aid a shift in favor of a “green economy.”
THE Department of Energy (DoE) has called for the immediate passage of legislation that will allow the government to tap into its accumulated share in the revenue from the offshore Malampaya natural gas project.
THE GOVERNMENT is set to notify the World Trade Organization (WTO) on its failure to prepare for the end of the quantitative restriction (QR) regime on rice.
THE Department of Finance (DoF) has filed a motion for reconsideration on a Supreme Court (SC) ruling that nullified limits on tax exemptions enjoyed by minimum wage earners.
THE Bureau of Customs (BoC) will investigate the disposal of substandard steel angle bars, after the Federation of Philippine Industries (FPI) claimed possible irregularities in the process that may result in the seized bars leaking onto the market.