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‘Remove excise tax on gold of small-scale miners’

POT OF GOLD A small-scale miner takes a break after taking out sacks of gold ore from a tunnel at the Acupan mines in Itogon, Benguet province. But there is still no light at the end of the tunnel for cutting taxes on gold sales. RICHARD BALONGLONG / INQUIRER NORTHERN LUZON

Two lawmakers from gold-rich Benguet province want to remove taxes on gold extracted by small-scale miners to curb the smuggling of the precious metal out of the country.

Posted: September 18th, 2014 in Latest Business Stories | Read More »

Group urges gov’t to scrap tax on jet fuel

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The Supreme Court effectively slapped new taxes on aviation fuel suppliers after it denied in a recent decision the excise tax refund claims of Pilipinas Shell and Petron, the Joint Foreign Chambers said.

The Joint Foreign Chambers is urging the government to scrap the excise taxes on jet fuel as it describes Manila to be “the most expensive place in Asia to fuel an aircraft.”

Posted: February 14th, 2014 in Latest Business Stories | Read More »

For automakers, lower taxes, more perks eyed

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Trade Secretary Gregory L. Domingo: Additional incentives

The Department of Trade and Industry is looking at possible revisions in the excise tax structure and additional incentives for higher local content in the automotive manufacturing sector, as it moves to make the Philippines the automotive hub of the region.

Posted: November 8th, 2013 in Latest Business Stories | Read More »

4-month ‘sin’ tax take surges

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The Bureau of Internal Revenue’s collection of excise tax from alcohol and cigarette manufacturers grew by over P4 billion in the first four months of the year, due mainly to the implementation of the controversial Sin Tax Reform law.

Posted: June 30th, 2013 in Headlines | Read More »

‘Sin’ taxes seen to boost BIR collection to P1.25T

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The Bureau of Internal Revenue aims to collect P102.4 billion in excise taxes this year and boost total revenue collection for the year to P1.25 trillion.

Posted: January 31st, 2013 in Editor's Pick,Headlines | Read More »

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