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The House of Representatives overwhelmingly approved on third and final reading a bill that would define the tax rates for proprietary schools to allow them to avail of the 10-percent preferential rate on taxable income. With 202 affirmative votes, the chamber passed House Bill No. 9913, which seeks to clarify that the preferential tax rate […]
Senator Nancy Binay urged the Bureau of Internal Revenue and Department of Finance to reconsider its decision not to extend the April 15 deadline for the filing and payment of annual income tax returns for 2020. “I-extend na lang sana ang April 15 deadline, kahit na sa NCR Plus lang. We already extended last year […]
Senator Joel Villanueva has appealed to the government to give more leeway for online sellers, instead of cracking the whip on them, especially since they come mostly from the ranks of the unemployed and are on survival mode. In a statement, Villanueva explained that most online sellers are focused on earning enough to provide for […]
Senator Win Gatchalian expressed his opposition to the proposed repeal of the 2% special tax rate for microfinance non-government organizations (NGOs) under the Passive Income and Financial Intermediary Taxation Act (PIFITA), the fourth tranche of the Department of Finance’s (DoF) comprehensive tax reform program. Gatchalian said microfinance NGOs have been instrumental in providing low-interest, no […]
The House Ways and Means Committee will sustain its commitment to fund President Rodrigo Duterte’s key infrastructure and human development priorities, its chairman, Albay Rep. Joey Salceda said. Salceda said he will push for the passage in plenary of key tax measures that hurdled committee level, particularly: the tax regime for Philippine Offshore Gaming Operators […]
Following the latest order of President Rodrigo Duterteto ban vaping only in public places, Albay Rep. Joey Salceda said the House of Representatives will now propose the imposition of higher taxes on vaping products. Salceda, the chairman of the House Committee on Ways and Means, said the Chamber will remove from its proposal the additional […]
Senator Joel Villanueva described the overtaxation concern on Philippine offshore gaming operations (POGO) as unfounded, saying its poor regulation has contributed to mounting social concerns such as rising property prices and an increase in criminality and illegal activities. In a statement, Villanueva expressed support for the move to impose taxes on this particular sector of […]
Senator Pia Cayetano said she will still push for the passage of a measure seeking to impose higher taxes on electronic cigarettes (e-cigarettes) and vaping products. Cayetano made the statement following President Rodrigo Duterte’s directive to ban the use and importation of vaping devices. “The way I look at it is my work continues. Because […]
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 Bam Aquino lauded the latest memorandum by the Bureau of Internal Revenue (BIR), announcing that taxpayers covered by the Barangay Micro Business Enterprise (BMBE) may file their income tax returns (ITR) without paying taxes. “Nagpapasalamat tayo sa BIR sa paglalabas ng nasabing memorandum na nagbigay linaw sa mga isyu at problemang bumabalot sa […]