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Biz Buzz: Winning streak

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They say good things come in pairs or threes but the transportation department—which is the one agency now that needs a positive lift as Metro Manila commuters simmer on MRT’s woes—has been defying those averages.

Posted: April 14th, 2014 in Headlines | Read More »

Tax perks in 2011 reached P144B, or 1.5% of GDP

The government loses the equivalent of 1.5 percent of the country’s gross domestic product (GDP) in foregone revenues due to “unnecessarily complex” and ineffective tax perks for local businesses.

Posted: March 27th, 2014 in Headlines | Read More »

Biz Buzz: Looming upgrade

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It seems the folks over at the Civil Aviation Authority of the Philippines are expecting some good news to come out of Wednesday’s “validating visit” by inspectors of the US Federal Aviation Administration (FAA).

Posted: March 26th, 2014 in Headlines | Read More »

Professionals ordered to disclose rates

The government has blinked on rules aimed at improving the tax compliance of self-employed professionals, such as lawyers and doctors, amid controversies over their portrayal as tax cheats in state-funded shame campaigns.

Posted: March 22nd, 2014 in Headlines | Read More »

BIR zeroes in on big corporate taxpayers’ record

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Bureau of Internal Revenue building. INQUIRER FILE PHOTO

The Bureau of Internal Revenue (BIR) said less than half of the biggest corporate entities in the country did not make it to the list of top taxpayers.

Posted: March 20th, 2014 in Latest Business Stories | Read More »

Effective ‘shame’ campaign

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The advertisements the Bureau of Internal Revenue put out this week in some broadsheets accomplished their objective—they raised public awareness about the need to pay the right taxes.

Posted: March 7th, 2014 in Columnists,Inquirer Columns | Read More »

BIR to audit real estate, construction companies

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AP FILE PHOTO

The Bureau of Internal Revenue has been tasked to conduct an audit of real estate and construction companies as weak tax collection from this sector elicited suspicions of rampant tax evasion.

Posted: February 27th, 2014 in Latest Business Stories | Read More »

Tax me notch

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Early this year, the Aquino (Part II) administration boasted about some minor “improvement” in its tax effort, noting that revenue hit 13.4 percent of the GDP last year, versus the target of 13.5 percent.

Posted: February 27th, 2014 in Columnists,Inquirer Columns | Read More »

BIR collections hit P1.217T last year

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Bureau of Internal Revenue building. INQUIRER FILE PHOTO

Collections by the Bureau of Internal Revenue (BIR) rose at a double-digit pace in 2013 compared to the previous year’s level in what officials credited to the anti-tax evasion drive and rising incomes resulting from economic growth.

Posted: February 20th, 2014 in Editor's Pick,Headlines | Read More »

BIR to run after PUV operators

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Bureau of Internal Revenue building. INQUIRER FILE PHOTO

The Bureau of Internal Revenue is in talks with the Land Transportation Franchising and Regulatory Board to draw up a system to curb tax evasion in the transport sector.

Posted: February 14th, 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 »

Non-life insurance sector calls for lower taxes

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Philippine Insurers and Reinsurers Association president Emmanuel Que: Merge or surrender. FILE PHOTO

The non-life insurance sector is calling for the rationalization of taxes imposed on its members, saying taxes have to be lowered to make surety products more accessible to Filipinos.

Posted: January 24th, 2014 in Latest Business Stories | Read More »

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