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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 »

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 »

Group urges to keep Petron refinery running amid closure reports

Warren de Guzman, ABS-CBN News
Posted at Oct 29 12:03 AM

Several news organizations earlier reported that Petron was planning to permanently shut down its Bataan refinery because the tax system put it at a disadvantage versus importers of finished products.  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 »

Google's war on all fronts over media, competition and tax

Vanessa Carronnier, Agence France-Presse
Posted at Oct 21 06:58 AM

Californian internet giant Google faces a growing list of battles around the world, from tussles in Europe and Australia over fair compensation for media outlets to competition probes on both sides of the Atlantic. Read more »

Pandemic exposes holes in Sweden's generous social welfare state

Peter S. Goodman and Erik Augustin Palm, The New York Times
Updated as of Oct 09 07:56 AM

In the popular imagination, Sweden does not seem like the sort of country prone to accepting the mass death of grandparents to conserve resources in a pandemic. Yet among the nearly 6,000 people whose deaths have been linked to the coronavirus in Sweden, 2,694, or more than 45%, had been among the country’s most vulnerable citizens: those living in nursing homes. 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 »

18 revelations from a trove of Trump tax records

David Leonhardt, The New York Times
Posted at Sep 28 08:03 AM

The New York Times has obtained tax-return data for President Donald Trump and his companies that covers more than two decades. Trump has long refused to release this information, making him the first president in decades to hide basic details about his finances. His refusal has made his tax returns among the most sought-after documents in recent memory.   Read more »

Trump paid just $750 in federal income tax in 2016: NYT

Agence France-Presse
Posted at Sep 28 06:54 AM

US President Donald Trump paid just $750 in federal income taxes in 2016, the year he won the election, The New York Times reported Sunday, citing tax return data extending more than 20 years.  Read more »

Recto wants long-time ecozone investors exempted from new tax rates under CREATE

Katrina Domingo, ABS-CBN News
Posted at Sep 23 11:03 PM

Recto pushed for the inclusion of a "grandfather rule" -- which allows existing investors in the country to enjoy status quo, while a new rule is applied to future investors -- in the Corporate Recovery and Tax Incentives for Enterprises bill. Read more »

Trump must turn over tax returns to DA, judge rules again

Benjamin Weiser and William K. Rashbaum, The New York Times
Posted at Aug 20 11:11 PM

A US federal judge on Thursday rejected President Donald Trump’s latest effort to block the Manhattan district attorney from obtaining his tax returns, dismissing Trump’s arguments that the prosecutor’s grand jury subpoena was “wildly overbroad” and issued in bad faith.  Read more »

Nissan slapped with more back taxes from Ghosn period

Kyodo News
Updated as of Aug 20 06:10 AM

TOKYO - Nissan Motor Co. has been ordered to pay several hundreds of millions of yen in back taxes in connection with misuse of funds by the Japanese automaker under former boss Carlos Ghosn, sources familiar with the matter said Wednesday. Read more »

Cigarette tax stamps down 59 percent during lockdown: DOF

ABS-CBN News
Posted at Aug 11 03:12 PM

The total number of cigarette tax stamps issued by the Bureau of Internal Revenue (BIR) during the lockdown of Metro Manila and other parts of Luzon fell by more than half, the Department of Finance (DOF) said Tuesday. Read more »

Marcos wants PPE, medical supply manufacturers exempted from some taxes

Katrina Domingo, ABS-CBN News
Posted at Jul 23 09:29 PM

Sen. Imee Marcos on Thursday pushed to exempt local medical supply manufacturers from some taxes to ensure that Filipino-owned businesses would be more competitive against their international counterparts amid the coronavirus disease 2019 (COVID-19) crisis. Read more »

National govt swings back to budget surplus position in June

ABS-CBN News
Updated as of Jul 22 01:33 PM

The national government's fiscal position swings back to surplus in June as it ramped up collection of delayed income taxes and economic activities resume following easing of lockdowns, the Bureau of Treasury said Wednesday.    Read more »

Excise tax collections from large taxpayers exceed January - June target: DOF

ABS-CBN News
Posted at Jul 13 02:54 PM

Collections by the Bureau of Internal Revenue from large taxpayers reached P128.59 billion, exceeding the adjusted P113.64 billion target for the period by 13.15 percent, the DOF said in a statement.   Read more »

Villanueva urges BIR: Collect unpaid POGO taxes, probe illegal tax collector

Katrina Domingo, ABS-CBN News
Posted at Jul 03 06:20 PM

Sen. Joel Villanueva on Friday urged the Bureau of Internal Revenue (BIR) to investigate an unnamed official who has been illegally collecting "under the table" taxes from Chinese-run online gambling firms in the Philippines. Read more »

POGOs paid taxes 'under the table' says Locsin

Willard Cheng, ABS-CBN News
Posted at Jul 03 01:33 PM

Philippine Offshore Gaming Operators (POGO) did pay their taxes but "under the table” said Foreign Affairs Secretary Teodoro Locsin, Jr. in a tweet on Thursday. Read more »

Solon warns loss of gov't revenues, not just jobs, if ABS-CBN franchise not renewed

ABS-CBN News
Updated as of Jul 02 09:19 PM

The BIR on Thursday said ABS-CBN Corp. remitted P15.4 billion in various taxes from 2016-2019 making it one of the top taxpayers in the country.  Read more »