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Senator Pia Cayetano brought a bit of good news to the public: The exemption of several life-saving medicines and maintenance drugs from the 12 percent value-added tax (VAT) under the Corporate Recovery and Tax Incentives for Enterprises, or CREATE Law (Republic Act No. 11534). Cayetano shared the positive development with local government executives and members […]
Senator Win Gatchalian is urging the Bureau of Internal Revenue (BIR) to suspend the imposition of a 25 percent corporate income tax on private schools, warning that the added burden on struggling institutions amid the COVID-19 pandemic could lead to more school closures, job losses, and a more restricted access to education. For the chair […]
A measure seeking to clarify the latest Bureau of Internal Revenue (BIR) regulation imposing 25 percent corporate income tax on private schools has been filed at the House of Representatives. Deputy Speaker Rufus Rodriguez filed House Bill 9577, which seeks to correct an erroneous interpretation of the tax imposed on proprietary educational institutions under the […]