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Amazon, Apple stay away from new French initiative to set principles for Big Tech

Michel Rose, Agence France-Presse
Posted at Nov 30 09:27 PM

US tech giants Amazon and Apple have not signed up to a new French initiative to get global tech companies to publicly commit to principles including paying their fair share of taxes, government officials said on Monday. Read more »

CREATE bill hurdles Senate on final reading after DOF agrees to easing some provisions

Katrina Domingo, ABS-CBN News
Updated as of Nov 26 08:34 PM

The Senate on Thursday approved on final reading the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, after the Department of Finance (DOF) agreed to ease several provisions that might discourage investors from coming to the Philippines. Read more »

France says will apply 'digital tax' for 2020 despite US retaliation threat

Agence France-Presse
Posted at Nov 25 10:06 PM

France will require online technology giants to pay a new "digital tax" on their 2020 earnings, the finance ministry said Wednesday, despite Washington's warning that it could retaliate with new tariffs on French imports.   Read more »

Senate settles deadlock on CREATE bill with separate tax rules for exporters, domestic players

Katrina Domingo, ABS-CBN News
Posted at Nov 25 12:14 AM

The Senate on Tuesday settled a deadlock on when incentives for several industries would end under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill by approving an amendment that would treat exporters and domestic players "differently." Read more »

Recto scoffs at DOF's hesitance to accept minor CREATE amendments

Katrina Domingo, ABS-CBN News
Posted at Nov 24 11:09 PM

Senate President Pro Tempore Ralph Recto on Tuesday scoffed at the Department of Finance (DOF) for nitpicking on several proposed amendments to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill. Read more »

Making financial decisions when you don’t have all the facts

Paul Sullivan, The New York Times
Posted at Nov 22 10:01 AM

So how can you make financial decisions that carry significant tax consequences before the end of the year? Read more »

Apple to lower App Store fees for smaller developers

Stephen Nellis, Reuters
Posted at Nov 18 07:29 PM

Apple Inc on Wednesday said it plans to start a program to lower its App Store commissions for software developers who make $1 million or less in proceeds each year from the store. Read more »

Electronics industry to shrink at slower pace: SEIPI

Bruce Rodriguez, ABS-CBN News
Posted at Nov 13 06:08 PM

The Philippine electronics industry will shrink at a slower pace this year than initially forecast as the country eases quarantine measures imposed to check the spread of COVID-19.   Read more »

Vietnam rebukes Netflix, Apple over lack of tax payments

Phuong Nguyen, Reuters
Posted at Nov 11 01:40 PM

Vietnam's information minister on Tuesday accused foreign streaming companies like Netflix and Apple of skirting their tax responsibilities, saying it would create unfair competition for domestic firms. Read more »

DOF extends deadline for payment of local taxes, fees to Dec. 19

ABS-CBN News
Posted at Nov 09 11:32 AM

Tax payments are extended until December 19 this year for payment of local taxes, fees and charges imposed by local government units, the Finance department said on Monday. Read more »

Football: FIFA plan crackdown on agents with new licence idea

Agence France-Presse
Posted at Nov 06 01:08 PM

FIFA said Thursday they plan to reinstate a licence for players' agents, banning anyone who has been convicted of "corruption, money laundering, tax evasion, sexual abuse or harassment". Read more »

No to new taxes, sell off state-owned assets to cover revenue shortfall: Dominguez

ABS-CBN News
Updated as of Nov 02 03:43 PM

Dominguez said the government will instead borrow money from commercial sources, even from the Bangko Sentral ng Pilipinas.   Read more »

As tax base shrinks during pandemic, proposed law seeks to cut revenue sources

Robert JA Basilio Jr., Philippine Center for Investigative Journalism
Posted at Oct 30 05:00 PM

The Duterte government is pushing for a bill cutting the corporate income tax in exchange for strict limits to tax perks enjoyed by investors. Economists however warn against eroding the revenue base at a time of a pandemic, when funds are needed the most. Read more »

Obama mocks Trump's Chinese bank account: 'They would've called me Beijing Barry'

Glenn Thrush, The New York Times
Posted at Oct 22 11:15 AM

Former U.S. President Barack Obama speaks as he campaigns on behalf of Democratic presidential nominee and his former Vice President Joe Biden in Philadelphia, Pennsylvania, U.S., October 21, 2020. REUTERS/Kevin Lamarque TPX IMAGES OF THE DAY Read more »

ALAMIN: Mga benepisyo ng healthcare workers na tax-free ngayong pandemya

ABS-CBN News
Updated as of Oct 21 09:43 PM

Exempted sa buwis ang actual hazard duty pay o kompensasyon ng temporary frontline health workers na nagsisilbi ngayong may pandemya. Read more »

Senate eyes early session resumption to tackle 2021 budget, CREATE bill: Zubiri

Katrina Domingo, ABS-CBN News
Posted at Oct 15 01:35 PM

Senate Majority Leader Juan Miguel Zubiri on Thursday said the Senate plans to resume session a week earlier in November to work on the passage of the 2021 budget and a bill that will rationalize corporate income taxes, 2 measures cited as priorities of the executive branch. Read more »

Trump again asks Supreme Court to block subpoena for his tax records

Charlie Savage, The New York Times
Posted at Oct 15 12:16 AM

Personal lawyers for US President Donald Trump, seeking to appeal their case to the Supreme Court for the second time in less than a year, asked the justices Tuesday to delay a ruling that would allow the Manhattan district attorney to obtain Trump’s financial records. Read more »

Imee Marcos seeks to 'defer' removal of tax incentives under CREATE bill

Katrina Domingo, ABS-CBN News
Posted at Oct 12 09:42 PM

Senate Committee on Economic Affairs chair Imee Marcos on Monday sought for the "outright deferment" a bill that would reduce incentives given to several businesses, saying the government needs to "protect" investors who have been creating jobs and generating revenue for the Philippines for several decades. Read more »

Cash no longer king in Italy as COVID helps government push for plastic

Reuters
Posted at Oct 08 02:24 PM

Italy's love affair with cash is fading. The coronavirus is turning Italians off notes and coins and the government is launching a raft of incentives to accelerate the trend, believing plastic payment can curb rampant tax evasion. Read more »

Trump took $70,000 in tax deductions for hair care. Experts say that's illegal.

James B. Stewart, The New York Times
Updated as of Oct 07 08:22 AM

Donald Trump spent more than $70,000 on hairstyling during several years of his run on “The Apprentice,” his reality-TV show. What is really remarkable about the revelation is that Trump’s production company deducted his hairstyling expenses from its taxable income, reducing its tax bill. Read more »