THE FINANCE department said groundbreaking is expected this year on three railway projects outside Metro Manila, as well as new public transport lines along the main Metro Manila artery, Epifanio de los Santos Avenue (EDSA).
Mar 162017
Mar 162017
PASSAGE of the comprehensive tax reform program may be pushed back to October, falling three months behind the government’s July target, as strong opposition remains to the removal of exemptions.
Mar 162017
CIGARETTE manufacturer Mighty Corp.’s liability should not be limited to taxes allegedly evaded via fake excise stamps, as it must also be held accountable for the social costs associated with selling cheaper cigarettes, a senior legislator and member of the House’s revenue-raising committee on Ways and Means said.
Mar 152017
LOCAL and foreign business groups expressed support for the government and some of the country’s biggest companies as they finally move forward with a planned common station project that will link Metro Manila’s three urban rail systems, ending nearly eight years of disputes.
Mar 152017
THE DEPARTMENT of Social Welfare and Development (DSWD) said targeted cash transfers contemplated to offset lost entitlements under the tax reform programs will not be enough to offset the more expensive goods that will result from higher excise taxes.
Mar 152017
Once a newly-established business is registered with the Securities and Exchange Commission (SEC), it must subsequently register with the Bureau of Internal Revenue (BIR) and secure a tax identification number (TIN). In addition, it must register books of account for record-keeping of transactions which will be used as the basis to compute its internal revenue taxes.
Mar 142017
THE TAX REFORM failed to gain committee level approval at the House Ways and Means committee hearing yesterday, but a technical working group (TWG) will be convened during the Congress session break to discuss final concerns, specifically the removal of exemptions on cooperatives.
Mar 142017
THE FINANCE department is considering tapping the proposed national ID system to spell out benefits due to cardholders to discourage revenue leakage from entitlements granted to senior citizens and persons with disabilities (PWDs).
Mar 142017
PRESIDENT Rodrigo R. Duterte asked his legislative allies for their support on tax reform, as he acknowledged the “resistance” encountered by the bill, particularly the parts which seek to raise additional revenue for the government’s aggressive spending programs.
Mar 132017
JAPANESE businesses have expressed interest in investing as much as P198.5 billion in the Philippines, according to the Department of Trade and Industry (DTI).