More meds for cancer, diabetes, mental illness in VAT-free list

Ma. Teresa Montemayor - Philippine News Agency 11/26/2024

MANILA – The Food and Drug Administration (FDA) has expanded the list of medicines exempted from value-added tax (VAT) to ensure accessible treatment of serious illnesses affecting Filipinos. Seven medicines were added to the list to help patients…

House OKs bill imposing tax on digital transactions; solon says ‘this isn’t the way forward’

Beatrice Pinlac 11/15/2022

MANILA, Philippines – A bill taxing transactions with foreign digital service providers (DSPs) like Netflix and Spotify has won the approval of the House of Representatives in its third and final reading. House Bill No. 4122, which…

Progressive groups stage peaceful rally vs rising fuel prices

Mary Rose Sagarino 03/18/2022

  MANDAUE CITY, Philippines- Several progressive groups in Cebu led by BAYAN Central Visayas staged a rally in front of the Petron Oil Depot on Friday, March 18, 2022, to protest the series of oil price hikes.…

COVID-19 prompts another BIR extension: VAT refund claims until April 30

Ben O. de Vera 03/19/2020

The Bureau of Internal Revenue (BIR) has also extended the deadline to apply for value-added tax (VAT) refunds as the ongoing community quarantine of the entire island of Luzon keeps people immobilized at home in the hope…

Imee Marcos wants VAT suspended

Delta Dyrecka C. Letigio 11/17/2018

Ilocos Norte Governor Imee Marcos batted for the five-year suspension of the Value Added Tax (VAT) in order to address inflation. Speaking in a press conference in Cebu City on Saturday, Marcos said that although the economic…

VAT system overhaul instead of Trabaho bill — lawmaker

Inquirer.net 11/06/2018

Senator Joel Villanueva wants an “overhaul” of the value-added tax (VAT) system in the country. Aside from lowering the VAT rate from the present 12 percent to 10 percent, Villanueva also sees the need to rationalize the…

Senate wants VAT on BOT contracts

Inquirer.net 11/27/2017

The Senate has rejected a proposal to exempt from the value-added-tax (Vat) all Build-Operate-Transfer (BOT) contracts despite a senator’s warning that the public might shoulder the additional burden. Seven senators voted against Senate President Pro Tempore Ralph…

Lacson seeks reduction of VAT exemptions

Inquirer.net 11/26/2017

The government should consider removing the dozens of value-added tax (VAT) exemptions that corporations enjoy under the law to compensate for the losses under the proposed VAT reduction to 10 percent, Sen. Panfilo Lacson said Sunday. Lacson,…

BIR readies VAT compliance notices for 4 firms

Vanessa Claire Lucero 03/29/2016

THE Bureau of Internal Revenue (BIR) regional office has prepared compliance notices for four establishments that have been found violating revenue laws. Neri Yu, BIR 13 chief legal officer, said a VAT (value-added tax) Compliance Notice will…

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