News Articles on {?keyword?} | ABS-CBN News

Palace backs tax hike on private schools

ABS-CBN News
Posted at Jun 10 05:58 PM

Malacañang said on Thursday it supports a a new regulation by the Bureau of Internal Revenue that raises the income tax of private educational institutions by 150 percent. Read more »

Private schools ask court to halt tax hike

Jaehwa Bernardo, ABS-CBN News
Updated as of Jun 09 04:12 PM

MANILA — A group of private schools has asked the Court of Tax Appeals to stop the implementation of a new regulation by the Bureau of Internal Revenue that raises the income tax of private educational institutions by 150 percent. Read more »

Bezos, Musk and other billionaires avoid US income taxes: report

Agence France-Presse
Updated as of Jun 09 07:39 AM

Some of the richest Americans "pay little in income tax compared to their massive wealth -- sometimes, even nothing," said ProPublica. Read more »

EXPLAINER: What is a global minimum tax and what will it mean?

Leigh Thomas and David Lawder, Reuters
Posted at Jun 06 07:52 AM

Such a deal aims to end what US Treasury Secretary Janet Yellen has called a "30-year race to the bottom on corporate tax rates" as countries compete to lure multinationals.   Read more »

Biden pushes 17 years of free school, asks companies and wealthy to pay 'fair share'

Jeff Mason, Reuters
Posted at May 04 09:00 AM

NORFOLK, Virginia - President Joe Biden on Monday called on wealthy Americans and corporations to pay their "fair share" to fund free community college and other benefits for workers as he promoted his sweeping jobs and safety-net plans in Virginia. Read more »

China 'closing in fast,' Biden warns Congress, as he asks for trillions in spending

Trevor Hunnicutt and Susan Cornwell, Reuters
Posted at Apr 29 11:26 AM

WASHINGTON - President Joe Biden declared on Wednesday that the United States is "on the move again" 100 days after he took office, in a speech to a joint session of Congress that he used to promote a $1.8 trillion plan he said is needed to compete with China. Read more »

Anti-red tape body orders LGUs to stop collecting pass-thru fees

Bruce Rodriguez, ABS-CBN News
Posted at Apr 28 06:33 PM

ARTA issued a joint memorandum with the DOF and DILG telling LGUs to stop collecting fees and taxes from vehicles transporting goods. Read more »

Senate adopts resolution urging Duterte to recall order cutting pork tariff

Katrina Domingo, ABS-CBN News
Posted at Apr 15 02:37 PM

Several senators on Thursday filed a resolution seeking to revoke President Rodrigo Duterte's order to reduce tariffs for imported pork to protect local hog raisers from bankruptcy. Read more »

Philippines to lose P3.6B in revenue due to reduced tariff for imported pork: Lacson

Katrina Domingo, ABS-CBN News
Updated as of Apr 12 12:37 PM

The Philippines may lose at least P3.6 billion in potential revenue should the government proceed with its plan to reduce imported pork tariffs this year, a senator said Monday as the Senate began reviewing the policy that would allegedly hit local hog raisers. Read more »

BIR to allow taxpayers to file 'anywhere' amid COVID-19 surge

ABS-CBN News
Posted at Mar 29 10:03 PM

The Bureau of Internal Revenue (BIR) on Monday said taxpayers can file returns and pay taxes outside the Revenue District Office where they are registered from March 22 to April 30.    Read more »

Dominguez: Government loans weren't just for COVID-19 vaccines

John Gabriel Agcaoili, ABS-CBN News
Posted at Mar 22 11:29 PM

MANILA - Finance Sec. Carlos "Sonny" Domínguez III said Monday the loans which the Philippines took since 2020 were not only used for acquiring COVID-19 vaccines but also for other expenditures, such as paying other loans and government projects. Read more »

Bicam approves CREATE bill which lowers corporate income taxes

Reuters
Updated as of Feb 02 12:16 AM

MANILA (UPDATED) - A joint Philippine congressional panel approved on Monday a bill that will reduce the rate of corporate income tax in a bid to attract more foreign investment and help the coronavirus-hit Southeast Asian economy recover. Read more »

BIR says fewer tax collections last year, but more tax-paying businesses

ABS-CBN News
Posted at Jan 25 06:50 PM

The Bureau of Internal Revenue said Monday it collected P1.94 trillion taxes last year, 11.23 percent less than the P2.19 trillion in 2019 as taxpayers were unable to pay taxes amid the pandemic. Read more »

Philippine chamber calls on Congress to fast-track corporate tax reform bill

ABS-CBN News
Posted at Jan 18 03:22 PM

The Philippine Chamber of Commerce and Industry said lawmakers should "focus on the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE)."  Read more »

SC halts increased taxes on POGOs under Bayanihan 2

Mike Navallo, ABS-CBN News
Updated as of Jan 05 07:32 PM

The Supreme Court on Tuesday has temporarily halted the collection of increased franchise taxes from Philippine Offshore Gaming Operators (POGOs) under the Bayanihan to Recover As One Act (Bayanihan 2), an SC source said, which would have raised billions in additional revenues for the government to address the coronavirus pandemic. Read more »

Japanese investors welcome CREATE bill says DOF

ABS-CBN News
Posted at Dec 29 11:18 AM

Japanese investors welcome a bill seeking to lower corporate income tax rates, the Department of Finance said Monday.    Read more »

Makati may online payment system para sa buwis

ABS-CBN News
Updated as of Dec 12 04:48 PM

Ito ang "Maka-Connect" na naglalayong padaliin ang pagbabayad ng buwis ngayong may coronavirus disease (COVID-19) pandemic pa rin. Read more »

Manufacturing recovery underway, to get boost from tax reform, free trade deal: DTI

ABS-CBN News
Posted at Dec 09 09:08 PM

The Department of Trade and Industry said the manufacturing sector is recovering after suffering a steeper decline than the rest of the economy because of the COVID-19 pandemic.    Read more »

Hontiveros eyes incentives for LGUs to help raise funds for local programs

ABS-CBN News
Posted at Nov 16 10:00 PM

MANILA - Senator Risa Hontiveros on Monday said she will propose provisions on the budget of the Department of Finance (DOF) to give incentives to local government units (LGUs) when they borrow from banks and financial lenders to help the national government in financing local projects. 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 »