S. Korea to extend tax cut on passenger cars to boost consumption
Yonhap via The Korea Herald/Asia News Network SEJONG — South Korea’s finance ministry said Monday it will extend a temporary cut in consumption tax on passenger cars by another six…
BIR extends tax amnesty deadline to Dec. 31
MANILA, Philippines — The Bureau of Internal Revenue (BIR) has further extended the ongoing tax amnesty on delinquencies until Dec. 31, giving more time for taxpayers to settle their liabilities…
Tax amnesty on delinquencies extended to Dec 31
MANILA, Philippines — The Bureau of Internal Revenue (BIR) has further extended the ongoing tax amnesty on delinquencies until Dec. 31, giving more time for taxpayers to settle their liabilities…
End-May BIR, BOC tax take dropped 24.8% to P874.9 billion – DOF
MANILA, Philippines — No thanks to a COVID-19-induced recession, tax collections dropped by almost a fourth year-on-year to P874.9 billion as of end-May, the Department of Finance (DOF) said Friday.…
Temporary tax measure on oil imports yields P1.49B in revenue
The additional 10-percent import duties temporarily slapped on certain oil products amid the COVID-19 crisis so far raised P1.49 billion in additional revenue for the government. Data provided by Finance…
BIR’s 2020 tax goal slashed to below P2-trillion mark
The Bureau of Internal Revenue’s (BIR) 2020 tax-collection goal has been further reduced to P1.74 trillion—lower than its actual 2019 take—amid a COVID-19-induced recession that had shut down many firms,…
Indonesia defends digital tax policy despite US scrutiny
Finance Minister Sri Mulyani Indrawati said Tuesday the government was only requiring internet companies to pay VAT on sales of digital products and services starting July 1, adding that the…
Gatchalian on BIR proposal to tax online sellers: ‘Ill-timed, insensitive’
Senate PRIB MANILA, Philippines — Senator Sherwin Gatchalian has dismissed as “ill-timed” and “insensitive” the move of the Bureau of Internal Revenue (BIR) to tax online resellers who are still…
Globe, Innove sustain increase in tax payments in 2019
Globe and Innove Communications Inc.’s tax payments continue to rise for the fifth consecutive year. For fiscal year 2019, Globe paid over P20.7 billion in taxes, P3-Billion or 20% higher…
‘Sin’ tax collections slumped in May
Collections from “sin” taxes continued to slide in May amid the liquor ban and restricted deliveries of cigarettes during the extended COVID-19 quarantine. Finance Secretary Carlos G. Dominguez III on…