Most businesses and individuals who avoid paying taxes are based not in Metro Manila but outside the National Capital Region (NCR), according to the National Statistical Coordination Board (NSCB). Read the rest of this entry »
NSCB: Most ‘tax evaders’ are outside NCR
April 10, 2012
Excessive tax hikes to worsen unemployment, poverty
April 2, 2012
A labor leader has warned that increasing tax rates on tobacco and alcohol excessively will exacerbate problems on unemployment, poverty, and crime incidence in the country. Read the rest of this entry »
Tax bureau tags priority areas for improvement
March 20, 2012
STRATEGIC AREAS for reforms this year have been identified by the Bureau of Internal Revenue (BIR) under the aim of modernizing tax administration to make it more convenient, efficient and transparent.
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Taxing the professionals
March 13, 2012
he Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular No. 03-2012 (RMC 03-12) to remind BIR officials and taxpayers alike of the proper tax treatment of income payments made to General Professional Partnerships (GPP), as well as the distributive shares of net profits received by the partners from such GPPs. Read the rest of this entry »
Lawmaker blames revenue shortfall on gov’t failure to stop smuggling
February 16, 2012
In the wake of new reports the government lost P1 billion in taxes due to undervaluation of rice importation, House Minority Leader Quezon Rep. Danilo Suarez yesterday called on the administration to strengthen its campaign against the unabated smuggling which is taking its toll on the government revenue collection target. Read the rest of this entry »
BIR vows to run after tax-evading vendors
January 30, 2012
THE Bureau of Internal Revenue (BIR) would go after public market vendors and smaller business establishments to ensure that they are complying with the mandatory issuance of official receipt. Read the rest of this entry »
BIR shelves tax hike on income payments
January 24, 2012
The Bureau of Internal Revenue (BIR) has shelved its plan to increase the rate on the expanded creditable withholding tax that is levied on self-employed individuals.
Kim Jacinto-Henares, BIR commissioner said that based on a public hearing last month, affected taxpayers warned that to increase the creditable withholding tax (CWT) rate might result in the influx of tax refunds and unutilized tax credits. Read the rest of this entry »
BIR hopes to collect P95B in taxes from self-employed
January 20, 2012
MANILA, Philippines – The Bureau of Internal Revenue (BIR) is aiming to increase to P95 billion a year the tax collections from self-employed individuals from only P9-billion annual tax take from this sector, its top official said. Read the rest of this entry »
House body to look into taxes levied on SSS, GSIS contributions
January 10, 2012
MANILA, Philippines – The House committee on ways and means will look into another controversial issuance of the Bureau of Internal Revenue (BIR), which imposes tax on contributions to state pension and insurance institutions like the Social Security System (SSS), Government Service Insurance System (GSIS), Philippine Health Insurance Corp. (PhilHealth) and the Pag-Ibig Fund. Read the rest of this entry »
Tax evaders, smugglers getting more sophisticated
January 2, 2012
MANILA, Philippines – When President Aquino was elected into office, the nation wrapped itself in euphoria. Filipinos were filled with hope as Aquino promised that he would finally be that leader the country needed. Read the rest of this entry »
