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BIR to appeal local court ruling exempting Filipino ADB employees from income tax

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Internal Revenue Commissioner Kim Henares. INQUIRER FILE PHOTO

The government shall appeal the Mandaluyong court ruling stating that Filipino employees of the Manila-based multilateral lender Asian Development Bank (ADB) are exempted from paying income taxes.

Posted: October 2nd, 2014 in Latest Business Stories | Read More »

DOF proposes expanded VAT coverage instead of income tax cuts

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Any tax-eroding measure should be compensated by new and additional revenue-generating schemes, including expanding the coverage of the value-added tax (VAT) system and widening the tax base, Finance Secretary Cesar V. Purisima reiterated Wednesday.

Posted: September 15th, 2014 in Latest Business Stories | Read More »

Finance chief eyes tax overhaul

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An overhaul of the country’s entire tax structure may be overdue, according to Finance Secretary Cesar V. Purisima. This comes as authorities struggle to meet monthly revenue targets due to established leakages that promote inequity by sourcing most of the state’s money from fixed salary earners. Finance authorities argue that several parts of the law need […]

Posted: August 25th, 2014 in Headlines | Read More »

Customs seizes Harbor Star tugboat

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Bureau of Customs. INQUIRER FILE PHOTO

Harbor Star Shipping Services Inc., a leading provider of harbor assistance, lighterage, salvage and towing services in the country, is at odds with the Bureau of Customs over a tugboat importation.

Posted: August 22nd, 2014 in Latest Business Stories | Read More »

Simplifying the tax system redux

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“The only thing that is constant is change,” said Greek philosopher Heraclitus. Here, the constancy of change is colliding with a seemingly irresistible force—inertia against tax reform. But the Asean economic integration in 2015 and the need to be competitive may yet be the catalyst for change.

Posted: August 18th, 2014 in Columnists,Inquirer Columns | Read More »

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