income tax
ARTICLE FINDER

COA defies 3 admins: Contractors should pay P146B Malampaya tax

May 16, 2018 - 4:32 PM

Shell, Chevron and Philippine National Oil Company-Exploration Corporation (PNOC-EC), or collectively known as the Malampaya Consortium, were allowed not to pay P146.7 billion in income taxes by Presidents Arroyo, Aquino and Duterte

RUNNING OUT. Gas from the Malampaya project is expected to run out in a decade prompting firms to contemplate alternative sources. File photo from Sembcorp Marine website

#AskTheTaxWhiz: ITR filing deadline in April 2018 and more

Apr 04, 2018 - 4:55 PM

The Philippine Tax Whiz answers taxpayers' key questions on the filing of annual income tax returns

BIR on Sereno, Duque confirmation, NFA rice shortage | Evening wRap

Feb 07, 2018 - 9:12 PM

Watch the evening newscast with Marguerite de Leon

Tax calculator: Compute your new income tax

Feb 02, 2018 - 9:00 AM

Here's a step-by-step guide to compute for your new income tax under the tax reform law

INCREASE. Majority of taxpayers can expect higher take-home pay starting in January 2018.

#AskTheTaxWhiz: Have you received your ITR?

Jan 31, 2018 - 10:35 AM

The Philippine Tax Whiz reminds employers that they should release BIR Form 2316 to employees by Wednesday, January 31

Higher fuel prices in 2018? Fill your tanks now, says Andanar

Dec 31, 2017 - 12:55 PM

Palace Communications Secretary Martin Andanar reiterates that under the new tax law, 99% of taxpayers will pay lower income tax

NEW TAX LAW. Palace Communications Secretary Martin Andanar says reduced income tax under the new tax law would give the people more purchasing power. File photo from Malacañang Photo

Higher take-home pay but pricier cars, fuel, tobacco by 2018

Dec 11, 2017 - 10:05 PM

The Senate and the House of Representatives are set to ratify their reconciled version on Tuesday, December 12, before sending it to President Rodrigo Duterte for signing into law

Senate approves tax reform bill on final reading

Nov 28, 2017 - 6:31 PM

Senate Minority Leader Franklin Drilon expects a difficult time in the bicameral conference committee due to polarizing provisions in the Senate and House versions

Senate OKs P250K annual income tax exemption

Nov 22, 2017 - 2:42 PM

The Senate follows the version of the Department of Finance and House of Representatives

Photo by Camille Elemia/Rappler

Taguiwalo: CA rejection due to my fight vs pork barrel, tax reform

Aug 16, 2017 - 4:20 PM

‘I have served the people well I gave my all and I’m proud to say that my integrity is intact ’ says the social welfare secretary

How will the proposed tax reform package affect Filipinos?

Jun 24, 2017 - 9:59 AM

Take a look at how the Duterte administration s proposed tax reform package will affect your take home pay and the prices of commodities

EFFECT ON FILIPINOS. The proposed tax measure will have an impact on Filipino workers' salaries and the prices of fuel and other commodities.

INFOGRAPHIC: How tax reform hits your favorite drinks

Jun 03, 2017 - 5:00 PM

The Philippine Chamber of Food Manufacturers says the excise tax on sugar sweetened beverages in the proposed tax reform package is the highest in the world

No tax for Filipinos earning P21,000 or below monthly under revised DOF proposal

Apr 24, 2017 - 12:30 AM

For instance a call center agent who earns P21 000 a month with a gross income of P273 000 inclusive of the 13th month pay and other benefits will still fall under the zero tax bracket

PROPOSED REVISIONS. The revised package under HB 4774 includes lowering rates for estate and donor’s taxes, adjusting automobile and fuel excise taxes, and expanding VAT base but retaining exemptions for senior citizens citizens and persons with disabilities. Rappler file photo

#AskTheTaxWhiz: All about filing income tax returns

Apr 06, 2017 - 12:15 PM

The Philippine Tax Whiz answers taxpayers key questions and reminds the public that the deadline has been moved from April 15 to April 17

PAYING TAXES. Taxpayers line up at the Quezon City Hall. File photo from QC Public Affairs and Information Services Office

FAST FACTS: Avoiding double taxation for nonresidents

Apr 01, 2017 - 1:30 PM

The Philippines is currently a signatory to 41 tax treaties that address double taxation situations

DOUBLE TAX. To avoid the double taxation of nonresidents, the Philippines is currently a signatory of 41 tax treaties.

FAST FACTS: Time to pay taxes, what should you know?

Mar 29, 2017 - 4:29 PM

As we approach the tax month of April check if you know enough about the Philippine tax landscape

Low-income earners shoulder 72% of tax burden – DOF

Feb 27, 2017 - 9:45 PM

High income earners shoulder only 28 4 of the tax burden and it has a bigger gap between the taxes they owe government and the amount actually collected from them

Job applicants queue up at a counter for job vacancies offered by different local companies during a job fair at a mall in Manila on October 27, 2010. The Philippines is creating more jobs but too many skilled people are still unable to find work, economic planning minister said. Unemployment eased to 6.9 percent in July as an improving economy opened up more jobs, mostly in the farm sector, the government reported a day earlier. AFP PHOTO/TED ALJIBE

#AskTheTaxWhiz: Is the proposed tax reform package really pro-poor?

Feb 26, 2017 - 6:00 PM

The Philippine Tax Whiz shares what the public must know about the Tax Reform for Acceleration and Inclusion TRAIN bill

Duterte's tax reform: More take-home pay, higher fuel and auto taxes

Feb 02, 2017 - 11:06 AM

The government also seeks the removal of VAT exemptions except those covering senior citizens and persons with disablity to counter loss in revenue

TAX REFORM. The government seeks to lower income tax rates of Filipinos but not without accompanying increase in excise taxes on fuel and automobiles, among others.

India to halve basic rate of income tax – minister

Feb 01, 2017 - 3:48 PM

UPDATED Finance Minister Jaitley: I propose to reduce existing rate for income to 5 from 10

An Indian man carries a sack of vegetables at the wholesale market in Mumbai on January 28, 2017. Punit Paranjpe/AFP

Gov't backtracks, keeps tax-free 13th month pay in new proposal

Jan 31, 2017 - 3:20 PM

Under the new Department of Finance proposal people earning P250 000 and below a year will no longer be taxed in addition to the P82 000 ceiling of 13th month pay

Higher fuel excise tax means more funds for social services – lawmaker

Jan 24, 2017 - 7:05 PM

The tax reform proposal also aims to reduce poverty incidence from 21 6 to 14 by 2022

BETTER SERVICES. The increased revenue expected fromt he proposed excise tax on fuel will be used to fund social services. Photo by Noel Celis/AFP

DOF eyeing tax exemption for annual income below P250,000

Jan 19, 2017 - 6:00 PM

Marikina 2nd District Representative Miro Quimbo says this proposal is already a great victory for tax reform advocates

TAX REFORM. The Department of Finance eyes to grant tax exemption to individuals earning P250,000 and below.

#AskTheTaxWhiz: BIR deadlines to remember for January

Jan 16, 2017 - 12:50 PM

The Philippine Tax Whiz also answers questions on business permit renewal

Ex-DOF, NEDA chiefs back Duterte tax reform plan

Jan 09, 2017 - 4:50 PM

19 former heads and deputy chiefs of the Department of Finance and the National Economic and Development Authority say the comprehensive tax reform plan would correct the structural weaknesses of the system

ESSENTIAL. Finance Secretary Carlos Dominguez III says the tax reform plan is the lynchpin of the administration's wider reform agenda.

The pitfalls of Special Economic Zones

Nov 10, 2016 - 4:35 PM

While SEZs generate foreign investment and employment they also deprive farmers of their land and distort the economy

#AskTheTaxWhiz: Top 10 frequently asked tax questions by startups

Nov 03, 2016 - 7:25 PM

The Tax Whiz tackles everything entrepreneurs need to know about taxes including whether taxes are due even if a company is unprofitable local business taxes and important deadlines

DOF eyes higher VAT exemption threshold as 'safety net for the poor'

Oct 26, 2016 - 9:40 PM

The Department of Finance also defends measures criticized as anti poor – the proposed higher fuel excise tax and the planned removal of certain VAT exemptions

DOF: Sin tax reform also in the pipeline

Sep 29, 2016 - 7:30 PM

The Department of Finance wants to raise taxes on tobacco and alcohol as well as sweetened beverages

DOF tax reform proposal ‘anti-poor’ – lawmakers

Sep 29, 2016 - 6:00 PM

Speaker Pantaleon Alvarez also calls out the DOF for failing to include specific proposals to make tax collection more efficient

ANTI-POOR REFORMS. The Makabayan bloc airs their reservations against the DOF's proposed tax reform on September 29. Photo by Mara Cepeda/Rappler

DOF submits first package of tax reforms to Congress

Sep 27, 2016 - 7:45 PM

The first of 4 packages to be submitted includes the restructuring of personal income tax reducing the coverage of VAT exemptions and raising fuel excise tax

DTI, DOF looking to ‘modernize’ investment incentives

Sep 20, 2016 - 7:21 PM

Both agencies are working together to craft a new set of tax breaks to offer potential investors as ‘the icing on the cake’ to get them to invest in the country and hope to finalize the tax breaks by the end of the year says Trade Secretary Ramon Lopez

Gov’t eyes higher taxes for 'ultra-rich' earning over P5M a year

Sep 14, 2016 - 5:24 PM

Finance Secretary Carlos Dominguez III says those earning less than P3 million a year will enjoy a tax break

HIGHER TAXES FOR THE RICH. Finance Secretary Carlos Dominguez III says the Duterte government will impose higher personal income taxes on the 'ultra-rich'

Poor to be shielded from fuel excise tax increase – DOF

Sep 05, 2016 - 7:03 PM

Socioeconomic Planning Secretary Ernesto Pernia says now is the best time to adjust fuel excise taxes when crude oil prices are low and impact on inflation is almost negligible

'BEST TIME.' NEDA chief Ernesto Pernia points out that every P1-per-liter increase in fuel prices would translate into an inflation spike of just 0.1 percent. Rappler file photo

Duterte admin keeping seniors' 20% discount, most VAT exemptions

Aug 31, 2016 - 2:45 PM

But the VAT exemption granted to senior citizens when dining in restaurants will be lifted says the DOF because such discounts are usually availed of by affluent senior citizens

VAT ON SENIOR CITIZENS. The VAT exemption granted to seniors when dining in restaurants will be lifted. Photo by Mark Saludes/Rappler

Extrajudicial killings, tax reform, Prince | 12PM wRap

Aug 23, 2016 - 12:39 PM

Watch the 12PM wRap with Paterno Esmaquel

Gov't tax reform to cost P173.8B in lost revenue

Aug 22, 2016 - 8:49 PM

To offset the loss the government is planning a series of measures such as eliminating some VAT exemptions and fiscal incentives

SPENDING BREAKDOWN. (from left) Socioeconomic Planning Secretary Ernesto Pernia, Budget secretary Benjamin Diokno and Finance Secretary Carlos Dominguez III detail the particulars of the 2017 budget to members of congress at the House of Representatives on August 22. Photo by Chrisee dela Paz/Rappler

#AskTheTaxWhiz: Is there tax on prizes for our sports heroes?

Aug 22, 2016 - 6:30 PM

A reader asks if sporting icons like Manny Pacquiao and Hidilyn Diaz get tax exemptions and if winners of local tournaments need to pay tax on their prizes

House minority to push for tax exemption for P30k-and-below earners

Aug 17, 2016 - 6:58 PM

House Minority Leader Danilo Suarez says he plans to file a bill imposing a water tax on the MWSS to address the projected government revenue loss

NO INCOME TAX FOR THE POOR. House Senior Deputy Minority Leader Lito Atienza and House Minority Leader Danilo Suarez lead a press conference on August 17. Photo by Mara Cepeda/Rappler

#AskTheTaxWhiz: What if my employer doesn’t pay my income taxes?

Aug 13, 2016 - 10:00 AM

A graphic designer s employer doesn’t withhold his taxes He wonders if that makes him liable for tax evasion

Quimbo wants to lower corporate income tax to 25%

Aug 04, 2016 - 11:46 AM

Deputy Speaker Miro Quimbo also authors a measure seeking to adjust individual income tax to inflation

LOWER TAXES. Deputy House Speaker Miro Quimbo files bills seeking to lower personal income and corporate taxes. Photo by Mara Cepeda/Rappler

#AskTheTaxWhiz: Tax amnesty and holiday the way forward?

Aug 02, 2016 - 4:10 PM

The Tax Whiz breaks down the difference between a tax amnesty and a tax holiday while also clearing up tax issues from the last election

The pet bills of President Duterte

Aug 01, 2016 - 10:00 AM

Duterte did not mention in his first SONA two bills that his top allies in the 17th Congress declared they would prioritize: the reimposition of the death penalty and the lowering to 15 years the minimum age of criminal responsibility

President Rodrigo Duterte delivers his State of the Nation Address, as Senate President Aquilino Pimentel III and House Speaker Pantaleon Alvarez listen. Photo by Francis R. Malasig/EPA

What bills have been refiled in the 17th Congress?

Jul 26, 2016 - 3:32 PM

Lawmakers in the 17th Congress refile bills that languished in the past including measures pushing for freedom of information ending political dynasties and increasing the pension for SSS members

LEGISLATIVE AGENDA. Senate President Koko Pimentel and House Speaker Pantaleon Alvarez listens to President Rodrigo Duterte as he delivers his first State of the Nation Address on July 25. Photo by Francis R. Malasig/EPA

SONA 2016: Lawmakers happy Duterte supports their bills

Jul 25, 2016 - 9:34 PM

UPDATED Some lawmakers have filed bills on tax reform passport validity and universal health care even before President Rodrigo Duterte mentions them in his SONA

1ST SONA. President Rodrigo Duterte gestures while delivering his first State of the Nation Address on July 25. PHoto by Francis R. Malasig/EPA

SONA 2016: Duterte vows to cut income, corporate taxes

Jul 25, 2016 - 6:15 PM

At the household level there must be sufficient income for all Filipinos to meet the basic food and non food needs for their families says Duterte

Dominguez bares tax reform plans to businessmen

Jun 21, 2016 - 2:30 PM

The reforms which include lowering both income tax and corporate tax follow suggestions from outgoing Finance Secretary Purisima

Former agriculture secretary Carlos "Sonny" Dominguez during a press conference in Davao City. Photo by Manman Dejeto/Rappler

Adjusting fuel tax to inflation could net PH P20B

Apr 22, 2016 - 8:15 AM

While the measure would raise fuel prices it could have the same effect on traffic as the sin tax has had on health says the Action for Economic Reforms Group

Gov’t targets 'suspicious' accountants in new tax ad

Apr 20, 2016 - 9:00 PM

Out of 1 944 NCR accountants who filed income tax returns in 2014 214 declared zero income tax says the DOF and BIR

Diokno to next president: Focus on tax reform, foreign ownership limits

Apr 19, 2016 - 7:30 PM

Former budget secretary Benjamin Diokno says President Benigno Aquino III s successor can make major changes to entice foreign investors

Photo by Chris Schnabel/Rappler