News

Expert says new tax amnesty measure 'problematic'

ABS-CBN News
Updated as of Feb 20 02:58 AM

A tax expert backed President Rodrigo Duterte's move to partially veto the Tax Amnesty Act of 2019 after it lacked a much-needed clause relaxing the country's strict bank secrecy law.  Read more »

CTA to proceed with P70-million tax deficiency cases vs Ressa, Rappler

Adrian Ayalin, ABS-CBN News
Posted at Feb 15 06:47 PM

The Court of Tax Appeals 1st Division denied the appeal of Rappler Holdings Corporation and its Chief Executive Officer Maria Ressa to have her P70 million tax deficiency cases sent back to the Department of Justice. Read more »

World oil price hikes, 2nd excise tax seen driving inflation in January

ABS-CBN News
Posted at Jan 31 08:25 PM

A BSP think-tank said fuel costs climbed this month due to higher world oil prices and the second tranche of TRAIN excise taxes on petroleum products.  Read more »

'Tax tobacco to the max,' say health advocates

ABS-CBN News
Posted at Jan 29 04:16 PM

A group of health advocates march towards the Senate on Tuesday to support bills that will increase taxes on cigarettes to help curb smoking.  Read more »

Second tranche of excise taxes take effect in nearly 2,000 gas stations

ABS-CBN News
Updated as of Jan 22 08:04 AM

Oil firms will raise fuel prices for the third straight week, with the energy department expecting another price hike next week. Read more »

Oil firms to raise fuel prices anew

ABS-CBN News
Posted at Jan 14 10:58 PM

Motorists face a double whammy this week, with oil firms raising fuel prices again on January 15th.  Read more »

ANC Soundbytes: Rise in cigarette, alcohol taxes

ABS-CBN News
Posted at Jan 10 12:41 AM

An increase in the excise taxes of tobacco and alcohol may be looming as the President certifies as urgent the passage of bills reforming the Sin Tax law. By how much can these levies increase?  Read more »

Cutting incentives not a deal-breaker for investors, says AmCham official

ABS-CBN News
Posted at Jan 09 05:30 PM

Fiscal incentives are good but many foreign investors can also live without them as long as infrastructure improves at a faster pace, an official of the Amercian Chamber of Commerce of the Philippines said Wednesday.  Read more »

PH agri group, economist say rice tariffication can help lower rice prices

ABS-CBN News
Posted at Jan 08 12:00 AM

Philippine economic managers have been betting big on the rice tariffication bill as one of the government's way to keep inflation within its target range. Read more »

Macron gov't on tenterhooks as new tax regime takes effect

Clare Byrne, Agence France-Presse
Posted at Jan 03 07:30 AM

After years of delays, France on Jan. 1 ditched a system whereby residents file income tax returns based on the previous year's earnings, replacing it with a system where the state deducts the taxes directly from people's salaries or pensions each month. Read more »

Round 2 of fuel tax hike only for new stocks: Energy dept

ABS-CBN News
Posted at Dec 26 11:18 AM

The second tranche of fuel excise tax will only apply to new stocks expected to come out in retail stations by January 15, the Department of Energy said Wednesday. Read more »

Philippine taxes on sugary drinks could avert thousands of deaths: WHO study

Reuters
Posted at Dec 06 07:38 AM

The Philippines could avert 24,000 premature deaths linked to diseases such as diabetes, stroke and heart failure in the next 2 decades after it adopted taxes on sugar-sweetened beverages, the World Health Organization (WHO) said on Wednesday.   Read more »

Macron makes U-turn on fuel-tax increases in face of 'yellow vest' protests

Simon Carraud and Michel Rose, Reuters
Posted at Dec 05 07:42 AM

France's prime minister on Tuesday suspended planned increases to fuel taxes for at least 6 months in response to weeks of sometimes violent protests, the first major U-turn by President Emmanuel Macron's administration in 18 months in office. Read more »

Macron weighs 'strong gesture' to end fiery tax protests

Clare Byrne and Adam Plowright, Agence France-Presse
Posted at Dec 04 07:52 AM

French leader Emmanuel Macron faced growing pressure Monday to find a way out of the deepest crisis of his presidency after protests over taxes sparked Paris's worst rioting in decades. Read more »

Ressa returns to Manila facing possible arrest

Anjo Bagaoisan, ABS-CBN News
Updated as of Dec 03 01:49 AM

Amid fears of her being arrested due to multiple tax evasion cases filed by the government, journalist Maria Ressa arrived in Manila saying she was ready to face these charges. Read more »

Consumer group urges Duterte to scrap fuel excise tax

ABS-CBN News
Updated as of Nov 30 12:09 PM

With the existing 12-percent VAT and the decrease in world crude prices, there is "no need" to implement the second and third tranches of the excise tax on fuel, United Filipino Consumers and Commuters President Rj Javellana said. Read more »

House panel OKs higher taxes on alcoholic drinks

RG Cruz, ABS-CBN News
Updated as of Nov 21 09:40 PM

The House Ways and Means Committee endorsed to the plenary House Bill 8618 raising excise tax rates on alcohol products to curb consumption while raising revenues for the Universal Health Care Program of the government. Read more »

Fresh clashes in French 'yellow vest' fuel price protests

Marc Preel, Agence France-Presse
Posted at Nov 19 07:27 AM

Fresh clashes in the "yellow vest" fuel price protests across France led to more injuries on Sunday, adding to the more than 400 already reported by the government, as some demonstrators vowed to continue their action over the coming days. Read more »

Profits-based royalty is 'equitable,' says Chamber of Mines

ABS-CBN News
Posted at Nov 13 09:34 AM

Profits-based royalty and a windfall profits tax, as passed by a House of Representatives committee, is the "most equitable manner" to raise revenues, the Chamber of Mines said Tuesday. Read more »

House approves bill on mining revenue reforms

RG Cruz, ABS-CBN News
Posted at Nov 12 10:58 PM

The House of Representatives approved on Monday a bill seeking reforms on how the government collects revenues from mining operations. Read more »