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SSS Surpass 2023 Revenue Target by 9.5%
The Social Security System (SSS) said it surpassed its revenue target for 2023, the highest revenue ever recorded according to SSS Chief Executive Officer Rolando Ledesma Macasaet. In a press release, SSS said they had initially set the revenue target for last year at Php330 billion but have achieved 9.5% more or Php362.20 billion. “Our […].....»»
New finance chief eyes carbon tax
Newly installed Finance Secretary Ralph Recto is pursuing the tax reform proposals of his predecessor, starting with the imposition of a carbon tax in a bid to generate additional revenues and address environmental concerns......»»
Maroons gain new backer, head overseas for UAAP buildup
The UP Fighting Maroons received a big boost in their UAAP Season 87 men’s basketball buildup as BPI joined the list of backers for the Diliman-based team earlier this month......»»
Tax Notes: BIR clarifies tax treatment of interest on borrowings
Tax Notes: BIR clarifies tax treatment of interest on borrowings.....»»
Tax Notes: Online sellers subject to 1% expanded withholding tax
Tax Notes: Online sellers subject to 1% expanded withholding tax.....»»
Prime Infra unit starts first auto MRF plant
Prime Integrated Waste Solutions Inc., a subsidiary of Enrique Razon’s Prime Infra, has inaugurated the country’s first automated materials recovery facility (MRF) that will help address solid waste management problems......»»
P126-B earmarked for C. Luzon infra projects
P126-B earmarked for C. Luzon infra projects.....»»
DPWH completes infra projects in Aurora, Ecija
DPWH completes infra projects in Aurora, Ecija.....»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
Digital times call for digital measures
The Bureau of Internal Revenue has recognized the undeniable rise of digital commerce in the Philippines by promulgating Revenue Regulation16-2023, issued on Dec. 21, 2023, and Revenue Memorandum Circular 08-2024, issued on Jan. 15, 2024, respectively......»»
‘No tax breaks for eco-zone work-from-home firms’
Work-from-home setups of business enterprises in economic zones should no longer get tax incentives under the Corporate Recovery and Tax Incentives for Enterprises Act as the public health emergency status for COVID-19 has already been lifted, Justice Secretary Jesus Crispin Remulla clarified in a legal opinion......»»
New tax proposals seen to yield P213 billion revenue
The Marcos administration expects to generate P213 billion over the next five years from the priority tax proposals of the Department of Finance......»»
Vape products found with P151 million tax deficiencies
More vape products are found evading tax liabilities of around P151 million as the Bureau of Internal Revenue ramps up its enforcement activities......»»
BIR files case vs Ever Bilena over P1.6 billion tax liability
The Bureau of Internal Revenue has filed criminal charges against popular cosmetics brand Ever Bilena for allegedly failing to settle at least P1.6 billion in tax liability......»»
Ever Bilena tax liability pegged at P1.6 billion
The alleged tax deficiency of popular cosmetic brand Ever Bilena has ballooned to P1.6 billion, according to the Bureau of Internal Revenue......»»
Ever Bilena faces P9.3 million tax rap
The Bureau of Internal Revenue has filed a criminal complaint against popular cosmetic brand Ever Bilena for nearly P10 million in alleged tax deficiencies......»»
BIR ramps up tax compliance drive
The Bureau of Internal Revenue has initiated a nationwide tax compliance drive to boost awareness and encourage taxpayers to pay their obligations......»»
More vital drugs exempted from VAT with TRAIN law
More vital drugs exempted from VAT with TRAIN law.....»»
E. Samar farmers finish farm business school
Thirty-three members of an agrarian reform beneficiaries organization (ARBO) from a remote farming village in this fifth class municipality completed the Farm Business School (FBS) of the Department of Agrarian Reform (DAR)......»»
Tax revenues jump to P3.4 trillion
The country’s tax revenues rose by five percent to hit P3.38 trillion as the government ramped up its tax administration and digitalization program......»»