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The incoming administration of Cagayan de Oro City said there will be no tax increase for the business sector which is still recovering from the COVID-19 pandemic. During a press conference, Cagayan de Oro Mayor-elect Rolando Uy asked the help of the city council to pass an ordinance supporting his plans that include providing incentives for […]
A measure seeking to intensify local government participation in national development by increasing the share of local government units (LGUs) from national taxes hurdled final reading approval at the House of Representatives. A total of 175 lawmakers voted to approve House Bill 10296, which proposes to modify the current formulation of the internal revenue allotment […]
The House of Representatives approved on final reading a proposal imposing a 12 percent value-added tax (VAT) on digital transactions in the country to generate new funding sources for the country’s COVID-19 response efforts. With 167 affirmative votes, six negative votes, and one abstention, the Chamber passed on third reading House Bill 7425 seeking to […]
With roughly a month to go before the end of the rgistration for the 2022 polls, Senator Win Gatchalian pushes anew for the tax exemption of teachers’ election honoraria. In 2019, Gatchalian filed Senate Bill No.1193, which seeks to seeks to exclude from gross income and exempt from taxation the honoraria, travel allowance, and other […]
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 […]
The House of Representatives will prioritize the passage of measures aimed at boosting the country’s economic recovery from the impact of the coronavirus disease 2019 (COVID-19). Deputy Speaker Mikee Romero said their focus is on passing the rest of the Comprehensive Tax Reform Program as the third regular session of the 18th Congress formally opened […]
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 […]
A House of Representatives panel has approved a measure exempting election workers such as members of the Board of Election Inspectors (BEIs) from having their honoraria or allowances subjected to income and other withholding taxes. During a virtual hearing, the House Ways and Means Committee approved an unnumbered substitute bill that would provide income tax […]
The revenues raised by Philippine Offshore Gaming Operations (POGO) will not offset the harm caused by this industry.This was emphasized by Deputy Speaker and Manila 6th District Rep. Benny Abante, Jr., who explained his negative vote on House Bill No. (HB) 5777, a measure that would tax persons engaged in POGO. “We are not thinking […]
Senator Joel Villanueva lauded Congress’ ratification of the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) law that would now cover training incentives to cushion the impact of automation in employed and upskill workers. At the same time, Villanueva challenged the Department of Finance (DoF) and the Foreign Investment Review Board (FIRB) to fulfill […]