The other Gulf states – Bahrain, Kuwait, Oman, and Qatar – are also committed to introducing VAT but have delayed the move until early 2019
Senate Minority Leader Franklin Drilon expects a difficult time in the bicameral conference committee due to polarizing provisions in the Senate and House versions
This is in contrast to the version of the House of Representatives, which scrapped the P10,000 VAT exemption for housing rent
The 6 states are now taking austerity measures a step further with the plan to introduce value-added tax, ending their decades-old reputation for being tax havens
Finance Secretary Carlos Dominguez III says incentives for BPO companies will remain The fate of milk products in the proposed tax reform package however is still up in the air
While HB 5636 will lower personal income tax rate to 25 VAT exemptions will be lifted on several sectors
The House of Representatives could approve the bill on both 2nd and 3rd readings this week
Speaker Pantaleon Alvarez agrees to retain the VAT exemptions for cooperatives in the proposed tax reform package at the request of party list representatives
House ways and means committee chairperson Dakila Cua estimates P157 2 billion in government revenues will be generated from the tax reform package in its first year of implementation
Nueva Ecija 1st District Representative Estrellita Suansing says collection will be used to assist sugar farmers and fund school based feeding programs
The House ways and means committee chairman says the package aims to generate revenue for social welfare infrastructure education healthcare job generation among others
House committee on cooperative development chairperson Rico Geron says he will oppose the tax reform package if it will include the removal of the VAT exemptions for cooperatives
The House ways and means panel is also eyeing a provision imposing an additional P10 excise tax on sugar sweetened beverages and carbonated drinks
The Philippine Tax Whiz shares what the public must know about the Tax Reform for Acceleration and Inclusion TRAIN bill
The Philippine Tax Whiz answers questions about donor s tax sending gifts to loved ones through balikbayan boxes and value added tax
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
The new benefit is on top of the 20 discount PWDs are already entitled to under the Magna Carta for Disabled Persons
Social Welfare Secretary Judy Taguiwalo signs the implementing rules and regulations of Republic Act 10754 An Act Expanding the Benefits and Privileges of Persons with Disability
The Senate Minority Leader says 7 months since the law was signed concerned government agencies have yet to promulgate its implementing rules and regulations
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
The House committee on ways and means meets with the Department of Finance to discuss possible changes to the anti poor measures under the proposed tax reform package
Speaker Pantaleon Alvarez also calls out the DOF for failing to include specific proposals to make tax collection more efficient
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
In our culture we respect senior citizens So why would we remove the exemption granted to them? asks veteran politician and Northern Samar 1st District Representative Raul Daza
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
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
To offset the loss the government is planning a series of measures such as eliminating some VAT exemptions and fiscal incentives
Taxpayers who need to update their status from self employed to employee ask about confusing BIR regulations
A taxpayer who owns a small business asks about confusing VAT regulations
2ND UPDATE Filipinos with disabilities can breathe a sigh of relief following the signing of Republic Act 10754 which now allows them to fully enjoy their mandated discounts
What should I do to get started on formal taxes? Can the youth be catalysts for genuine tax reform?
As ASEAN integration looms Senator Angara fears that the country s high tax will drive skilled workers to look elsewhere in the region
The Vice President says lower income tax rates will draw more foreign investments resulting in more jobs for the people and more revenues for the government
UPDATED President Benigno Aquino III says the proposal to raise VAT in exchange for lowering income tax levels will not benefit the majority
Communications Secretary Herminio Coloma Jr says the BIR is not proposing higher VAT rates and that the government will only focus on improving tax collection
The DTI warns of further price increases as the BIR plans to impose a VAT on raw and refined sugar
Why are they asking me to pay taxes more than my actual income in 2012?
Increasing excise tax in gasoline plus taking advantage of the current oil price drop could help the country raise revenues for infrastructure spending
Are all employees eligible to get a refund? Also what is a VAT refund?
Also do I have to register with BIR to issue official receipts for my additional compensation? And what is the difference between tax evasion and tax avoidance?
If you don t register as VAT taxpayer are you still required to pay VAT?
You just registered a small business Should you withhold taxes?
You re an online freelancer and barely making profit should you register? Are you subject to VAT?
Senator Aquino says subjecting small businessmen to income tax payment is an added burden to the poor and contrary to the mandate of the Constitution
The Philippine Sugar Milling Association questions the validity of a new BIR resolution redefining the definition of raw sugar
None of the complaints filed under the name and shame campaign of the tax bureau has led to conviction
The Aquino government says the only contribution of the Arroyo administration to investment grade was the imposition of the Value Added Tax
Homeowners associations are now required to pay value added tax
The former budget chief says the government must broaden the country s tax base so it could spend more for infrastructure