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Senator Koko Pimentel III cautioned the public to exercise “necessary care and caution” in handling their tax matters and in dealing with tax authorities as the peak of the annual income tax season nears this month. The deadline for the filing of income tax returns (ITR) with the Bureau of Internal Revenue (BIR)is on April […]
Senator Sonny Angara has called on government to fast-track the release of the implementing guidelines on the value-added tax (VAT) exemption of medicines under Republic Act 10963. Under the law, “sale of drugs and medicines prescribed for diabetes, high cholesterol, and hypertension” shall be exempt from VAT beginning January 1, 2019. Such provision was introduced […]
Senator Sonny Angara has filed a bill which seeks to ensure that health insurance premiums paid by employers for their employees remain tax-free. Angara earlier chided the Bureau of Internal Revenue (BIR) for issuing Revenue Memorandum Circular (RMC) 50-2018 which taxed group health insurance premiums, noting that such issuance was not included among the provisions […]
Senator Sonny Angara has asked the Bureau of Internal Revenue (BIR) to withdraw its revenue memorandum circular which states that premiums on health cards shall be subject to tax. Revenue Memorandum Circular (RMC) 50-2018 (A7) provides that premiums on health cards paid by the employer for all employees shall be included as part of bonuses […]
Senator Sonny Angara has called on the Bureau of Internal Revenue (BIR) to make it easier for Filipinos, especially for small taxpayers, to pay their taxes correctly. “Matagal na nating panawagan, kasabay ng pagbaba ng buwis, na gawing simple ang forms and procedures ng pagbabayad ng buwis. The BIR should always be ready, equipped […]
Senator Sonny Angara has expressed his support for higher pay for employees and officials of the Bureau of Internal Revenue (BIR), and has filed a bill exempting the country’s largest tax-collection agency from the coverage of the Salary Standardization Law (SSL). “Better pay would allow the agency to hire the best and reward the honest […]