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Paying, filing of ITR ends today — BIR
The tax bureau previously said that there would be no extension for the filing and payment of the ITR......»»
No extension: Tax filings to lift BIR collections to P406 billion in April
The Bureau of Internal Revenue is expecting to collect more than P400 billion this month, largely driven by the annual income tax return filing which will not be extended beyond April 15......»»
Tax break for 2-wheeled EVs pushed
It is high time to bring the “green” to Philippine roads by expanding current tax breaks to include two-wheeled electric vehicles, a leading think tank said......»»
BIR seizes P5.4 billion worth of illicit cigarettes
The trade of illicit cigarettes remains a problem with the Bureau of Internal Revenue unearthing P5.4-billion in tax liabilities from its latest operation......»»
The truth in the case of false returns
For too long a time, there existed two opposing views in the interpretation of Section 222(a) of the Tax Code......»»
‘Traders divert imported fish to evade VAT’
Unscrupulous fish importers are diverting frozen stocks of round scad (galunggong), bonito (tulingan) and mackerel (alumahan) to the wet markets to evade paying value added tax (VAT), the Department of Agriculture said yesterday......»»
BIR-Davao urges taxpayers to file ITR before deadline
BUREAU of Internal Revenue-Davao Region (BIR-Davao) calls on taxpayers to file their income tax returns (ITR) and not wait for the deadline which would be this coming April 15, 2024......»»
Reclaiming compromise payments
In the context of tax assessments, the Bureau of Internal Revenue offers remedies for taxpayers with assessed deficiency taxes......»»
Government budget back to deficit in February
The government reverted back to a budget deficit in February after a quick surplus at the start of the year, but a narrower gap can still be expected as the tax season draws near......»»
Digital TIN IDs issued reaches 100,000
he Bureau of Internal Revenue has issued 100,000 tax identification number IDs in digital form as more Filipinos opt out from lining up at district offices......»»
Excise tax on single-use plastics to yield P34 billion
The move to slap excise taxes on single-use plastics is seen generating P34 billion for the government and curbing the increasing mismanagement that contributes to overall pollution......»»
‘No new taxes likely until 2028’
The stance of Finance Secretary Ralph Recto against new taxes could extend until the end of the administration as the government will try to focus on improving tax collection efficiency first......»»
BIR attempts ‘friendly’ tack
February is not just the love month, it also marks the start of a yearlong campaign for the Bureau of Internal Revenue (BIR) to encourage the public to pay their tax obligations. After all, collecting P3.05 trillion is no easy task......»»
Rama: No need to rush RPT revision
CEBU CITY, Philippines – Cebu City Mayor Michael Rama said revising the Real Property Tax (RPT) wasn’t yet necessary, showing a sudden change in his position. At first, Rama said the RPT revision had to be done this month. Later, he told the council that imposing the RPT suddenly wasn’t necessary, showing a change in.....»»
Rama to meet with council, LFC over RPT revision
CEBU CITY, Philippines –City Mayor Michael Rama is planning to meet with legislators and the Local Finance Committee (LFC) to discuss the general revision of the real property tax (RPT) code after he returns from his business trip to Taiwan. “I wish they will find time that once I come back, we will have a.....»»
No take back on tax: The irrevocability rule
Life is about choices and sometimes, we will make decisions that we cannot take back. In times of uncertainty and indecisiveness, it’s important to think about these choices a thousand times and consider the possible consequences......»»
Government agrees to restore interest deductions
Associate Finance Minister David Seymour has today announced that the Government has agreed to restore deductibility for mortgage interest on residential investment properties."Help is on the way for landlords and renters alike. The Government's restoration of interest deductibility will ease pressure on rents and simplify the tax code," says Assoc.....»»
FDA delists COVID-19 meds, devices from VAT exemption
The Food and Drug Administration has released a list of COVID-19 medicines that were removed from the group of health products given an exemption from value-added tax or VAT......»»
DOF mulls mining tax tweaks for royalties, windfall profits
The Department of Finance is pushing for higher rates and fewer tiers in taxing the extractive sector, but the mining industry argued that the proposed structure would make the sector more uncompetitive......»»
Daily Gospel, March 2
This is the Daily Gospel for today, March 2, 2024, which is the Saturday of the second week of Lent. READ MORE: Daily Gospel, March 1 Daily Gospel, February 29 Holy Gospel of Jesus Christ according to Saint Luke 15, 1-3.11-32. Tax collectors and sinners were all drawing near to listen to Jesus, but the.....»»