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Customs misses target for 6th straight month

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Bureau of Customs (BOC) building INQUIRER FILE PHOTO

For the sixth consecutive month this year, the Bureau of Customs failed to meet its revenue target with June collections of only P26.96 billion, about P6.32 billion short of the P33.29-billion target for the 20-day trading period.

Posted: July 9th, 2014 in Latest Business Stories | Read More »

Condo association dues subject to VAT—BIR

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Bureau of Internal Revenue. AFP PHOTO

Association dues paid by residents of condominiums are still subject to value added tax (VAT), noting that recent rules on the issue remain valid, according to the Bureau of Internal Revenue (BIR).

Posted: June 26th, 2014 in Latest Business Stories | Read More »

BIR collections up in May but below target

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Bureau of Internal Revenue. AFP PHOTO

Tax collections of the Bureau of Internal Revenue in the month of May grew by a rate in double-digits although they were still short of the agency’s target.

Posted: June 17th, 2014 in Latest Business Stories | Read More »

Local governments urged to better manage finances

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How can provincial governors look after their own constituents if they still rely heavily on the national government’s coffers to fund projects at the local level?

Posted: June 9th, 2014 in Headlines | Read More »

BIR sets detailed tax audit after slow collection in April

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Collections of the Bureau of Internal Revenue (BIR) in March rose by nearly a tenth from a year ago but still fell short of the government’s goal despite aggressive campaigns against tax evaders. INQUIRER FILE PHOTO/RICHARD A. REYES

The Bureau of Internal Revenue (BIR) has announced plans for more detailed audits of taxpayers suspected of hiding profits from the government as part of efforts to boost collections.

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

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