Group presses tax perks for small firms
The Philippine Exporters Confederation Inc. (Philexport) wants the government to offer incentives under the second tax reform package specifically designed for micro, small and medium-sized enterprises...
View ArticleGov’t revenue, spending up
The implementation of the first tax reform package coupled with the rollout of the ambitious infrastructure program helped grow both the government’s revenue collection and expenditures at a faster...
View ArticlePeza: 2nd tax reform package ‘unconstitutional’
Duterte’s second tax reform package would invalidate existing government contracts with investors, a move which the Philippine Economic Zone Authority (Peza) has called “unconstitutional.” The post...
View ArticleTax perk removal ‘unconstitutional’
The Duterte administration’s second tax reform package would invalidate existing government contracts with investors, a move that the Philippine Economic Zone Authority (Peza) has called...
View ArticleTax reform generated P33.7B in 1st 6 months
The head of the Duterte administration’s economic team on Tuesday reminded legislators of President Duterte’s wish to pass by yearend the second tax reform package that will bring down the corporate...
View ArticleMore taxes on ‘sin products’ eyed
On top of further raising the excise taxes on tobacco and alcohol products, the Department of Finance is also seeking to stop the sale of cigarettes per stick as well as the use of e-cigarettes under...
View ArticleGov’t urged to address widening trade deficit
The Joint Foreign Chambers of the Philippines (JFC) wants the Duterte administration to address the country’s trade imbalance, a problem it pointed out could not be solved with the Trabaho bill. The...
View ArticleTeleperformance counts 19th site, but future in PH gloomy
Business process outsourcing (BPO) firm Teleperformance launched its 19th site here in the Philippines, but its top official said tax reform might make it harder to further expand despite market...
View ArticleCompanies seen looking for ‘exit strategies’
PwC Philippines said some of its clients were now asking for “exit strategies” amid concerns about the government’s second tax reform package. The post Companies seen looking for ‘exit strategies’...
View ArticleDOF optimistic on passage of Duterte’s tax reform packages this 2019
The DOF is optimistic that the entire comprehensive tax reform program of the government would be passed this year. The post DOF optimistic on passage of Duterte’s tax reform packages this 2019...
View ArticleBusiness groups throw support for critical Citira
Business groups are urging the government to pass the Duterte administration’s latest tax reform package. Ten business groups voiced their support for the Senate version of the Corporate Income Tax and...
View ArticleDOF expects credit rating upgrades; Moody’s lauds tax reform OK
Finance Secretary Carlos G. Dominguez III said the Philippines remained underrated by credit ratings agencies while Moody’s Investors Service on Monday tagged as credit positive the passage of the...
View ArticleActs to grind
About two weeks ago, with Congress about to go on break, the House of Representatives did a buzzer beater: It passed the tax reform package of the motorbiking Duterte Harley. The post Acts to grind...
View ArticleBPO sector says no to removal of perks
The IT and Business Process Association of the Philippines (IBPAP), which represents the sector that has become one of the pillars of the Philippine economy, warned that provisions in the first tax...
View ArticleBPO firms’ perks to stay under tax reform package, says DOF
The Department of Finance (DOF) on Friday said business process outsourcing (BPO) companies need not worry about the government’s first tax reform package as they will continue to enjoy a number of...
View Article‘Hot money’ swings to net outflow of $460.83 million in 1st half of 2017
Despite a net inflow of hot money posted in June on the back of positive market sentiment, more foreign portfolio investment left the country at the end of the first half of 2017, resulting in a net...
View ArticleCars selling briskly ahead of new tax setup
Vehicle sales went up 14.1 percent in June, keeping the car industry on the right track as it races toward its goal this remaining half of the year, data from automotive and truck manufacturers showed....
View ArticleExperts upbeat on consumer, retail plays as spending rises
The benchmark Philippine Stock Exchange index (PSEi) may be richly valued, having gained 14 percent in the first half of 2017 to end at 7,866.52. The post Experts upbeat on consumer, retail plays as...
View ArticleDOF hopes for swift Senate OK of tax reform
The head of the Duterte administration’s economic team yesterday said he was hoping the Senate would heed President Duterte’s call to approve the first tax reform package. The post DOF hopes for swift...
View ArticleSugar and splice
The tax program of this administration had a tough time in Congress, and so in his recent Sona, the motorbiking Duterte Harley threatened Congress to pass it in full and pronto. The post Sugar and...
View ArticleDOF moves submission of 2nd tax reform package to January
The Department of Finance will pitch the second package of the comprehensive tax reform program to Congress in January next year, as it first focuses on securing approval for the pending bill aimed at...
View ArticleSenate version sets higher excise taxes on cars
The latest Senate version of the first comprehensive tax reform package is proposing that the excise tax on cars would have a higher rate next year from what was passed in the Lower House last May, a...
View ArticleRHQ Head welcomes ‘grandfather’ clause in Senate’s Tax Reform Bill with...
The Senate version of the administration’s first tax reform package would be keeping a crucial tax perk enjoyed by a subsector of the business process outsourcing (BPO) industry, albeit it would not be...
View ArticleSSS to increase contributions of members to over 12.5%
Starting January next year, the contribution rate of Social Security System (SSS) members will increase to over 12.5 percent as a means for the state-run pension fund to compensate for the higher...
View ArticlePH posts $112.6-million net inflow of ‘hot money’ in September
Foreign portfolio investments swung to a net inflow of $112.63 million in September as investors looked forward to the passage of the first tax reform package pending in Congress, even as more “hot...
View ArticleDOF: Fuel marking to generate P20-billion additional revenues
The fuel marking system to be implemented early next year as part of the first tax reform package will generate P20 billion in additional revenues for the government and combat oil smuggling,...
View ArticlePH posted $112.6M in net ‘hot money’ inflow in Sept.
Foreign portfolio investments registered a net inflow of $112.63 million in September as investors looked forward to the passage of the first tax reform package pending in Congress, although more “hot...
View ArticleFuel marking seen yielding P20B in gov’t revenue
The fuel marking system to be implemented early next year as part of the first tax reform package will generate P20 billion in additional revenue for the government as it is seen substantially curbing...
View ArticleVAT few are chosen
To wrap up the so-called Train in Congress, the administration of the motor-biking Duterte Harley will have the next 18 working days. The post VAT few are chosen appeared first on Inquirer Business.
View ArticleBusiness processing group backs Senate version of tax reform package
The IT-Business Process Association of the Philippines (IBPAP) backed the recently passed Senate version of the first tax reform package. The post Business processing group backs Senate version of tax...
View ArticleGroup hits Senate version of tax reform
Bringing down the personal income tax rates under the first tax reform package will make the Philippines competitive with its Asean neighbors, the Department of Finance said Friday. The post Group hits...
View ArticleFilthy reach
Last week marked a breakthrough in one major business in our country: The lawmaking industry. The post Filthy reach appeared first on Inquirer Business.
View ArticleTrade groups unhappy with tax reform
Some of the biggest local and foreign business chambers in the country have expressed reservations about the final version of the first tax reform package, warning that some of the tax changes imposed...
View ArticleDiokno: Doubling public school teachers’ pay ‘not a priority’
Despite the President’s promise to double the pay of public school teachers, Budget Secretary Benjamin Diokno said Wednesday it would take a backseat to more pressing programs needed to be funded,...
View Article2nd tax reform package seeks to curb gov’t losses due to fiscal incentives
The government is losing more than P300 billion in revenue yearly from the wide array of tax and other perks being enjoyed by big corporations, highlighting the need for the rationalization of...
View ArticleApply new tax rates, firms told
The Bureau of Internal Revenue yesterday told employers to implement the lower personal income tax rates that went into effect at the start of the year even as the country’s biggest tax-collection...
View ArticleRevenue gains key to cut in corporate income tax
The reduction in corporate income tax rates under the Duterte administration’s second tax reform package will depend on the revenue gains once the government consolidates existing laws giving away...
View ArticleFinance chief: Tax regime under federal gov’t seen ‘very challenging’
Tax administration and revenue sharing under a federal form of government are expected to be “very challenging,” the head of the Duterte administration’s economic team said Tuesday, even as the...
View ArticlePeso back down to 51:$1
The peso on Tuesday slid back to the weaker 51:$1 level, closing at 51.1:$1 partly due to the impact on consumption of the first tax reform package. The post Peso back down to 51:$1 appeared first on...
View ArticleBSP raises 2018 inflation forecast to 4.3%
The Bangko Sentral ng Pilipinas expects inflation to average 4.3 percent this year and breach the 2-4 percent projected range due to the impact on consumer prices of the first tax reform package and...
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