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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 »

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 probes tax payments of banks, insurers

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The Bureau of Internal Revenue AFP FILE PHOTO

Tax collections for June fell short of the state’s ambitious monthly target yet again, prompting authorities to look into the effects on businesses of slow government spending and the City of Manila’s truck ban.

Posted: July 19th, 2014 in Editor's Pick,Headlines | Read More »

BIR misses collection target anew

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The Bureau of Internal Revenue AFP FILE PHOTO

Tax collections of the Bureau of Internal Revenue (BIR) in the month of May grew at a double-digit rate, although still short of the agency’s target.

Posted: June 18th, 2014 in Editor's Pick,Headlines | Read More »

Customs revenue growth slows sharply

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Bureau of Customs (BOC) building INQUIRER FILE PHOTO

The Bureau of Customs missed its collection target for April as revenue growth slowed sharply to less than half of the previous month’s expansion despite a slew of reforms implemented by its new chief.

Posted: May 27th, 2014 in Editor's Pick,Headlines | Read More »

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