By: Mark Anthony P. Tamayo on August 29, 2019 Under Republic Act 10963, or the Tax Reform for Acceleration and Inclusion Act (Train), the excise tax rates (which went up from last year’s rates) on diesel, bunker fuel and gasoline will further increase in 2020. A likely consequence of an excise […]
By: Euney Marie J. Mata-Perez on August 22,2019 With the passage of Republic Act 11346, which increases the excise tax on tobacco products to P45 per pack by 2020 from the current P35, Congress is quickly working on the passage of the other bills comprising the so-called Package […]
By: Euney Marie J. Mata-Perez on August 1, 2019 There is a specific rationale behind the imposition of value-added tax (VAT). VAT was not intended to be imposed on every transaction or transfer. Its imposition must bear some relevance to the taxpayer’s role or link in the production […]
By: Samantha L. Poblacion on July 5, 2019
In pursuit of its mandate to enact the implementing rules and regulations (IRR) of the Tax Amnesty Act (otherwise known as Republic Act 11213), the Bureau of Internal Revenue (BIR) released the IRRs for availment of amnesty on estate and delinquent taxes.
By: Euney Marie J. Mata-Perez on June 27, 2019
In last week’s article, we mentioned that it has been almost 10 years since the passage of (RA 9856), or “An Act Providing the Legal Framework for Real Estate Investment Trust and for Other Purposes” (REIT Act). However, up to this date, no REIT has been established in our country.