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CA dismisses Shell’s libel complaint vs Customs collector over firm’s taxes

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SHELL BULLISH  Royal Dutch Shell, through its upstream unit Shell Philippines Exploration BV, is poised to invest another $1 billion to increase the production of the Malampaya deepwater gas-to-power project off Palawan. Shell Philippines vice president for communication Roberto S. Kanapi said there are opportunities for investment and expansion, unlike in the past when the Philippines was placed on low priority.

The Court of Appeals has dismissed the petition filed by the Pilipinas Shell Petroleum Corp. that sought to prosecute for libel a Bureau of Customs port collector who said the oil firm owed the government P7.34 billion in back taxes.

Posted: October 20th, 2013 in Latest Business Stories | Read More »

Chinese-Filipino traders may stop school program after tax evasion allegations

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filipino-chinese-chamber

Chinese-Filipino businessmen are still smarting from President Aquino’s allegations that some of its members have been evading taxes.

Posted: May 2nd, 2013 in Latest Business Stories | Read More »

Chinese-Filipino traders vow to back Aquino’s tax effort

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SUPPORT FOR TAX DRIVE. President Benigno S. Aquino III witnesses the presentation of Plaque of Recognition to outgoing FFCCCII president Tan Ching presented by FFCCCII chairman emeritus Dr. Lucio Tan during the opening ceremony of the 29th biennial convention of the FFCCCII at the SMX Convention Center, SM Mall of Asia Complex in Pasay City on Friday. The organization pledged to support the government’s tax campaign. CONTRIBUTED PHOTO/MALACAÑANG PHOTO BUREAU

The head of the 207-member Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) has vowed to strongly support not only the government’s tax collection campaign but also President Aquino’s “Daang Matuwid” crusade.

Posted: March 25th, 2013 in Latest Business Stories | Read More »

BIR misses January target by 6%

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BIR collections for October brought the 10-month tax-take of the BIR to P858.6 billion, short of the P886.5-billion target by 3.15 percent.

The Bureau of Internal Revenue raised P94.74 billion in January, increasing by 11.3 percent from the year-ago collections of P85.15 billion but falling short of the month’s target of P100.93 billion by 6.1 percent.

Posted: February 28th, 2013 in Editor's Pick,Headlines | Read More »

BIR initiates programs to further boost revenue

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The Bureau of Internal Revenue will initiate 26 priority programs this year to further drum up collections, as the agency hopes to top the estimated P1 trillion it collected in 2012.

Posted: February 15th, 2013 in Headlines | Read More »

BIR exceeds November collection target, but still P96.8B off full-year target

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BIR logo

The Bureau of International Revenue reported collecting P110.8 billion in taxes in November, exceeding by 8 percent its target of P103 billion.

Posted: December 17th, 2012 in Latest Business Stories | Read More »

Group warns sin taxes to encourage smuggling, sees gov’t increasing income taxes

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A vendor sells cigarettes at a supermarket in Quezon City. AFP FILE PHOTO

A group of businessmen and professionals has warned that the government would lose, instead of generate more, revenues if it implements the proposal to slap much higher taxes on cigarettes. In the end, government might resort to increasing income taxes, the group warned.

Posted: November 16th, 2012 in Latest Business Stories | Read More »

Purisima, Henares deny favoring sin tax bill version of House

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BIR Commissioner Kim Jacinto-Henares. INQUIRER FILE PHOTO

Finance Secretary Cesar Purisima and Bureau of Internal Revenue Commissioner Kim Henares denied on Wednesday that they favored the House of Representatives’ version of the sin tax bill that imposed much less taxes on beer and alcohol, as alleged by Sen. Ralph Recto.

Posted: October 17th, 2012 in Latest Business Stories | Read More »

BIR exceeds target for 2nd straight month

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BIR collections for October brought the 10-month tax-take of the BIR to P858.6 billion, short of the P886.5-billion target by 3.15 percent.

The Bureau of Internal Revenue collected P68.69 billion in February, exceeding revenue targets for the second month in a row this year.

Posted: March 30th, 2012 in Editor's Pick,Headlines | Read More »

Tax collection grew 14% to P85.5B in January—BIR

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The Bureau of Internal Revenue (BIR) reported on Monday that it collected P85.15 billion in taxes in January, a double-digit rise from the 2011 figure but slightly short of the official target for the month.

Posted: March 19th, 2012 in Latest Business Stories | Read More »

September tax collections rise to P66.55B but still short of target—BIR

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MANILA, Philippines—The Bureau of Internal Revenue fell slightly short of its tax-collection goal in September, saying tax evasion has remained a key problem that the government must fight more intensely. “It is evident that there are still people who continue to pay less tax than what they are supposed to under the law. It is [...]

Posted: October 17th, 2011 in Latest Business Stories | Read More »

BIR misses June target by 2.2%

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NO NEW TAXES. The Aquino administration will propose no new tax measures next year but is still confident that it can lessen the budget deficit.

The Bureau of Internal Revenue collected P67 billion in June, falling short of the P68.5-billion target by 2.2 percent. Last month’s collection brought revenues in the first semester of 2011 to P458 billion, short by 0.5 percent or P2.3 billion of the P460.3-billion goal. Compared to 2010 figures, the collections in June were up 12.7 [...]

Posted: July 16th, 2011 in Editor's Pick,Headlines | Read More »

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