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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…
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…
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 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…
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…
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…
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…
FRENCH Prime Minister Edouard Philippe is to announce on Tuesday a suspension of fuel tax increases planned for January 1 in a move to end violent “yellow vest” protests against the measure, government sources said Tuesday. The…
MANILA, Philippines — Senator Sonny Angara has filed a bill seeking to ensure tax-free health insurance premiums among employees. Senate Bill No. 2112 seeks to exempt medical insurance premiums from income tax and fringe benefit tax. This…
Palace supportive of recommendation to proceed with second round of excise tax on oil amid drop in fuel prices; Not so fast, warns Cebu Business Club Prices of fuel have gone down in eight straight weeks. Based…
SEN. Sherwin Gatchalian wants President Rodrigo Duterte to continue with the suspension of the second tranche of the excise tax on petroleum products despite the advice of his economic managers. “I urge President Duterte to still push…
Some senators rejected Friday the plan of President Rodrigo Duterte’s economic managers to proceed with the second tranche of oil excise tax hike set on January 2019 as mandated under the Tax Reform for Acceleration and Inclusion…
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