News

SC affirms ruling that gives LGUs their IRAs based on all national taxes

Mike Navallo, ABS-CBN News
Posted at Apr 10 08:19 PM

The SC en banc voted 8-3 to deny the motion for reconsideration filed by the OSG which claimed that the Court erred in expanding the basis of the IRA of LGUs. Read more »

BIR reminds Filipinos to file income tax returns before April 15 deadline

ABS-CBN News
Posted at Apr 03 05:39 PM

Those who will fail to meet the deadline will have to pay a 25-percent surcharge and a 12-percent interest per annum, the BIR said in a statement.  Read more »

NFA tasked with buffer stocking under rice tariffication

ABS-CBN News
Updated as of Mar 07 10:31 AM

Under the draft implementing rules and regulations of the Rice Tarrification Law, the NFA will be required to maintain an "optimum level" inventory that is good for 30 days or equivalent to 1.5 million metric tons, NFA Administrator Tomas Escarez said. Read more »

China cuts taxes, sees 'tough struggle' as growth slows

Eva Xiao and Ryan McMorrow, Agence France-Presse
Posted at Mar 05 11:44 AM

China's premier warned Tuesday that the country faces a "tough struggle" as he unveiled tax cuts and other measures to prop up an economy expected to slow further this year. Read more »

8 kompanya, negosyante kinasuhan ng BIR dahil sa buwis

ABS-CBN News
Posted at Feb 28 04:03 PM

Aabot sa higit P1 bilyong pinagsamang hindi nabayarang buwis, interes at multa ang hinahabol ng Bureau of Internal Revenue sa walong kompanya at negosyante sa Caloocan at Laguna. Read more »

Duterte determined to continue implementation of TRAIN law

Joworski Alipon, ABS-CBN News
Posted at Feb 25 12:14 AM

President Rodrigo Duterte is determined to continue with the implementation of the Tax Reform Acceleration and Inclusion (TRAIN) law, citing the increasing need for a bigger budget to fund other newly approved legislations. Read more »

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 »