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Reclaiming compromise payments
In the context of tax assessments, the Bureau of Internal Revenue offers remedies for taxpayers with assessed deficiency taxes......»»
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......»»
Business group backs carbon emission trading
The government should prioritize implementing a carbon emission trading system instead of imposing taxes on carbon as the latter could cause power prices to spike, according to the Makati Business Club......»»
Hear ye, I will ease your burden but when? (2nd of 2 parts)
The Ease of Paying Taxes Act touches on one “problematic” process that occurs after the filing of tax returns – the refund process which is generally viewed as time-consuming......»»
To raise gov’t revenues, Recto says solution need not involve new taxes
New Finance Secretary Ralph Recto says non-tax efforts like helping businesses comply with the law will help government meet its revenue targets.....»»
Recto: No new tax on junk food, sweetened drinks
Finance Secretary Ralph Recto is not inclined to impose additional consumption-based taxes such as on junk food and sweetened beverages as these measures can be inflationary, while the debt level remains manageable and does not warrant extra burden on Filipinos......»»
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......»»
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Where do our taxes go?.....»»
How LMA Law founder sees mentoring, guiding people as legacy
Lawyer Ma. Louella “Peaches” Aranas believes that mentoring her law students, the next generation lawyers to being more conscientious in the matter of paying taxes and thereby contributing to nation building is the best legacy she can leave behind. .....»»
Subway sponsoring war - Ukraine
The US fast-food giant has provoked Kiev's ire for continuing operations in Russia The US-based multinational fast-food franchise Subway has been added to Kiev's list of "international sponsors of war" for continuing to operate and pay taxes in Russia, Ukraine's National Corruption Prevention Agency (.....»»
JG Summit sets higher capex for 2024
Conglomerate JG Summit Holdings Inc. expects its capital spending to balloon to over P99 billion this year, higher than the group’s originally allotted budget for 2024, due to additional engine deliveries for budget carrier Cebu Pacific......»»
Mayor Duterte says relief of 35 cops is “abuse of power from higher authorities;” seeks “immediate reinstatement”
DAVAO CITY (MindaNews / 26 May) – The relief of 35 members of the Davao City Police Office (DCPO), including its chief, “appears to be an abuse of power from higher authorities,” Mayor Sebastian Duterte said, as he asked for “immediate reinstatement of the unfairly relieved officers.” The relief was recommended by the Regional Internal […].....»»
El Niño pushes prices higher at Carbon Market
El Niño pushes prices higher at Carbon Market.....»»
Banks reap P92 billion profit in 3 months
Philippine banks turned more profitable in the first quarter, reaping almost three percent higher earnings to P92 billion due to higher net interest income. .....»»
Meralco expects higher generation charge this month
Energy utility provider Manila Electric Co. said indications point to a higher generation charge this month as the Luzon grid was placed under red and yellow alerts with several power plants are either offline or running at a reduced capacity......»»
PCSO sees higher earnings if illegal gambling curbed
The Philippine Charity Sweepstakes Office (PCSO) could have remitted higher dividends to the government had the authorities been successful in neutralizing illegal gambling operations in the country. .....»»
Banks see higher loan demand in Q2
Philippine banks are projecting a higher loan demand from both corporate and household borrowers in the second quarter amid a rosier economic outlook and more attractive financing terms from lenders......»»
Forex buffer hits 2-year high
The country’s dollar reserves rose to a 23-month high in March due to higher government deposits with the central bank and higher gold prices in the international market, according to the Bangko Sentral ng Pilipinas......»»
Forex buffer hits 2-year high
The country’s dollar reserves rose to a 23-month high in March due to higher government deposits with the central bank and higher gold prices in the international market, according to the Bangko Sentral ng Pilipinas......»»
Reissued T-bonds fetch higher rates
The reissuance of the government’s long-term securities fetched higher rates amid expectation of faster inflation in March that likely breached the target of the central bank......»»