Apple becomes one of the biggest beneficiaries of a new US tax bill which lowers the rate of repatriated profits to around 15% and cut the corporate tax rate to 21% from 35%.
The Philippine Tax Whiz explains what the Tax Reform for Acceleration and Inclusion (TRAIN) law is all about
'We cannot unilaterally change the budget because the Congress has the power of the purse...We cannot spend what Congress has not approved,' says Budget Secretary Benjamin Diokno
A total of 10 million families would benefit from the Unconditional Cash Transfer (UCT) scheme, says the Department of Social Welfare and Development
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The exclusive franchise holder of McDonald's in the Philippines says it is thinking of ways to balance the impact of the newly-enacted tax on sugar-sweetened beverages
With most mass market vehicles costing more because of the tax reform law, the Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) projects flat growth in sales this 2018
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While some netizens find P200 too meager, others say the poor have no right to complain
ACT Teachers Representative Castro says Budget Secretary Diokno 'consistently opposed proposals for the increase of benefits and salaries of teachers'
'Why am I not surprised at your blatant disrespect for basic democratic principles, Mr Solicitor General?' says ACT Teachers Representative Antonio Tinio, one of the petitioners
(UPDATED) Leftist lawmakers argue that the House had no quorum and did not call a vote when it ratified the joint bicameral conference report on the Train bill
Energy Secretary Alfonso Cusi warns that the government would cancel the certificate of compliance (COC) of violators
'This is in response to critics who say that Train is anti-poor because the informal sector and already tax-exempt wage earners will be faced with higher excise taxes,' says Budget Secretary Benjamin Diokno
'All in all, the first package of TRAIN was an opportunity to correct many problems that have long ailed our tax system. While a step in the right direction, many of TRAIN’s well-meaning provisions got watered down by politicians.'
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The movement of prices of basic goods and services in the Philippines is seen to move faster this year than last year, due to the newly-implemented tax reform package
Meralco, the country's largest power distributor, estimates an additional charge of 8 centavos per kilowatt hour (kWh)
The Land Transportation Franchising and Regulatory Board says it will consult with the National Economic and Development Authority on a 'justifiable' fare increase
Malacañang bares President Rodrigo Duterte's plan amid criticism that the first tax reform package is anti-poor
Payroll managers start adjusting their systems to reflect the new withholding tax rates. Supermarkets, oil retailers, convenience stores, and even sidewalk vendors begin updating their price lists.
The National Tax Research Center says this increase would discourage low-income earners from gambling and would also lead to higher revenue collection for infrastructure projects
Maglalaho ang mga ngiti sa ating mga labi kapag nilimas ng price increases ang nadagdag sa paycheck
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The education department doesn't take into account how the teachers have to spend more on products made pricier by the same tax reform law
The movement of prices of basic goods and services was steady at 3.3% in December, bringing the full-year 2017 rate to 3.2%. But the newly-implemented tax package and higher global oil rates could put pressure on inflation this year.
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As a tax lawyer, I noticed that there are a lot of news reports on the changes. But actually, there are much more significant changes under the Train law which are not being reported.
Prices go up for models below premium levels, while rates for more expensive vehicles are either maintained or even slightly lowered
The BIR claims customs fixer Mark Taguba – the whistleblower in the smuggled P6.4-billlon shabu shipment – owes the government P850 million
Piston says public utility vehicles should get the discount to counter the effects of the tax reform law
The Associated Labor Unions-Trade Union Congress of the Philippines says it would seek a nationwide wage increase if the tax reform law triggers 'exorbitant' inflation
The Department of Trade and Industry also eyes freezing prices of sugar-sweetened beverages until the middle of January
Fuel prices could go up in two weeks' time, once existing petroleum stocks of retailers are used up
(UPDATED) Investors remain upbeat even as the 20% hike in stock transaction tax takes effect at the local bourse
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The other Gulf states – Bahrain, Kuwait, Oman, and Qatar – are also committed to introducing VAT but have delayed the move until early 2019
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New excise tax rates on petroleum products are levied upon importation, not at the point of sale to the consumers
Communications Secretary Martin Andanar says the TRAIN Law will open more job opportunities for Filipinos
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Come Monday, January 1, employees earning P685 per day or P20,833 per month will be exempt from withholding tax
Palace Communications Secretary Martin Andanar reiterates that under the new tax law, 99% of taxpayers will pay lower income tax
By passing a law that makes expensive cars cheaper rather than costlier, our lawmakers not only weakened the promise of TRAIN, but also benefitted the wealthy at the expense of the Filipino people
The Tax Reform for Acceleration and Inclusion (Train) Law will take effect on January 1, 2018
'So, tataas 'yung bilihin. [Pero] hindi ba nila naisip na dahil dito...ay tataas din po ang koleksiyon ng ating bayan?' says Presidential Communications Secretary Martin Andanar
The vetoes will help the first package of tax reforms expected to reach the target P90 billion in revenue in 2018, according to the Department of Finance
'We are making America great again,' says US president Donald Trump
(UPDATED) The Republican legislation passes the Senate along strict party lines, 51 votes to 48, with all Democrats united in opposition