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Pacquiaos ask SC to stop tax court

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Manny and Jinkee Pacquiao File Photo by Elton Lugay

World boxing champ and Saranggani Rep. Manny Pacquiao and his wife Jinkee have asked the Supreme Court to stop the Court of Tax Appeals (CTA) from requiring them to deposit a cash bond of P3.29 billion or a surety bond of P4.94 billion as a condition to suspend the collection of their alleged tax deficiencies in 2008 and 2009.

Posted: August 16th, 2014 in Latest Business Stories | Read More »

BIR exceeded collection target in July

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The Bureau of Internal Revenue AFP FILE PHOTO

“Sheer hard work” drove tax collections in July past the state’s ambitious tax target for the first time this year, Revenue Commissioner Kim Jacinto-Henares said on Thursday.

Posted: August 15th, 2014 in Editor's Pick,Headlines | Read More »

BIR stands pat on bank secrecy law position

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The Bureau of Internal Revenue (BIR) on Tuesday said the days of investors profiting from the lax implementation of disclosure rules were over, as the agency defended its move to require more information from holders of privately issued securities.

Posted: August 13th, 2014 in Headlines | Read More »

BIR’s next target: ‘Ironman’ triathlon winners

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The Bureau of Internal Revenue AFP FILE PHOTO

It’s Taxman versus Ironman. The Bureau of Internal Revenue (BIR) in Central Visayas now wants to run after the organizer and winners of the recently-concluded Cobra Ironman 70.3 Philippines triathlon.

Posted: August 10th, 2014 in Latest Business Stories | Read More »

BIR rule seen to trigger capital flight

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The Bureau of Internal Revenue AFP FILE PHOTO

Nine of the country’s most influential business groups—including the entire banking and capital market industry—have warned of capital flight arising from a new Bureau of Internal Revenue (BIR) regulation requiring the submission of an alphabetical list (alphalist) of payees of income payments subject to withholding taxes.

Posted: August 4th, 2014 in Editor's Pick,Headlines | Read More »

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