Spare small online sellers, BIR urged

Ben O. de Vera, Julie M. Aurelio, Leila B. Salaverria 06/12/2020

Several senators are questioning the move by the Bureau of Internal Revenue (BIR) to press owners of online shops to register their businesses during an economic crisis, saying this would burden and not help small entrepreneurs who…

Palace backs taxing online sellers, but those earning P250K below are exempt

Darryl John Esguerra 06/11/2020

MANILA, Philippines — While it supports the Bureau of Internal Revenue’s (BIR) directive to online sellers to settle their taxes, Malacañang on Thursday said those earning below P250,000 yearly are exempted from paying taxes. In a televised…

Aboitiz Power posts P2.1 billion consolidated net income for 1st quarter of 2020

Irene R. Sino Cruz 05/01/2020

CEBU CITY, Philippines —The Aboitiz Power Corporation registered a lower consolidated net income for the first quarter of 2020. In an emailed statement, Aboitiz Power placed its consolidated net income at P2.1 billion for the period, 43…

Cebu City earns P7 billion from tax collection in 2019

Delta Dyrecka Letigio 10/31/2019

CEBU CITY, Philippines –The Cebu City government reported an earning of P7 billion from the city’s tax collection from January 2019 to October 2019, which already includes business taxes, permits and licensing community taxes, and other collections.…

Former Finance Secretary De Ocampo favors TRABAHO Bill, sees tax compromise for ecozone firms

Irene R. Sino Cruz 08/10/2019

CEBU CITY— Former Finance Secretary Roberto De Ocampo favors the Tax Reform for Attracting Better and Higher-quality Opportunities (TRABAHO) bill, the second package under the administration’s comprehensive tax reform program (CTRP).  “The thrust of the administration in…

BREAKING: Duterte signs higher sin tax for tobacco

07/25/2019

MANILA, Philippines — President Rodrigo Duterte signed on Thursday a law that would increase further the excise tax imposed on tobacco products, Executive Secretary Salvador Medialdea said. Duterte signed Republic Act 11346. “To address the urgent need…

Self-employed professionals exempted from paying business permit fees for clinics, offices

07/03/2019

The government has harmonized the taxes and other fees that self-employed professionals such as doctors, accountants and lawyers pay to local government units to cut red tape. In a statement, the Department of Finance said Local Finance…

DepEd: Higher tobacco tax to make cigarettes less available to youth

Inquirer.net 02/07/2019

MANILA, Philippines — The Department of Education (DepEd) has expressed support to the proposal to impose a higher tax on tobacco products, saying it would make cigarettes “less available and affordable” to the youth. “Significant increase in…

Cebu firms to feel adverse impact of additional excise tax on fuel

Irene R. Sino Cruz 01/15/2019

CEBU CITY, Philippines — Businesses face rising operating costs and lower net income due to the imposition of the additional P2 excise tax on oil products. Bob Gothong, chief executive officer of Gothong Southern group, admitted that…

PRA-Cebu president: Tobacco, liquor sales to take hit with another sin tax hike

Irene Sino-Cruz 01/09/2019

CEBU CITY, Philippines — Another round of sin taxes would result in lower volume sales of tobacco and liquor products. Robert Go, president of Philippine Retailers Association Cebu chapter (PRA-Cebu), recalled that volume sales of the two…

CCCI bucks Cebu City’s proposed new business tax scheme

Jose Santino S. Bunachita 12/06/2018

Imposing a flat rate of 1.5 percent on business taxes in Cebu City may hinder investments coming into the city. The Cebu Chamber of Commerce and Industry (CCCI) believed that while there is a need to adjust…

Fuel tax hike worries farm sector

Inquirer.net 12/05/2018

Stakeholders of the agriculture sector are afraid the second round of fuel tax increases next month may not bode well for food producers since the measure will translate to higher production costs. Industry leaders who talked to…

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