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By: Euney Marie J. Mata-Perez on January 3,2019. Happy new year! The year 2018 was an interesting year in the tax arena. Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (Train) Law, amending the National Internal Revenue Code (Tax Code), became effective on January 1, 2018. We...

By: Mark Anthony P. Tamayo on December 27, 2018 The annual yuletide festival is certainly the most joyous time of the year. Not only do we celebrate the birth of our Lord but it is also the time to reconnect with friends, acquaintances and most specially, family and relatives. It is traditionally...

By: Euney Marie J. Mata-Perez on December 20, 2018 The Senate and the House of Representatives have ratified a bicameral conference committee report that harmonized provisions of tax amnesty bills (House Bills 4814 and 8554 and Senate Bill 2059 [SB 2059]) passed by both houses of Congress. We will...

By Euney Marie J. Mata-Perez on December 13, 2018 Advent is the time for giving. Thus, it is a good time to be reminded of the taxes imposed on donations and the tax benefits of making them. Republic Act No. 10963 or TRAIN 1 (RA 10963) introduced several amendments to our National Internal Revenue...

By: Euney Marie J. Mata-Perez on December 6, 2018 Senate Bill 1979 (in relation to House Bill 4800) proposes to impose a royalty tax on both metallic and non-metallic mining operations conducted outside mineral reservations, whether large scale or small scale, at three percent of the market value...

        By: Euney Marie J. Mata-Perez on November 29, 2018 Medical and hospitalization costs in the Philippines are not cheap and could be daunting for ordinary employees. Thus, to cover these costs, many employers obtain group health insurance plans or “health cards” for their...

By: Euney Marie J. Mata-Perez on November 22, 2018 We are finally moving forward on the proposed general and estate tax amnesties. The Senate approved Senate Bill No. 2059 (SB 2059) on third and final reading last Nov. 19, 2019. On the other hand, the House of Representatives approved its counterpart...

By: Euney Marie Mata-Perez on November 15, 2018 Mutual trust and respect between taxpayers and tax authorities, as well as fairness in tax laws, are cornerstones to a successful and effective tax system. Taxation is one of the State’s inherent and great powers. However, when exercising such power,...

By: Euney Marie J. Mata-Perez on November 8, 2018 In the recently published 2019 World Bank Doing Business (DB) Report, the ranking of the Philippines dropped 11 notches from 113th place for the year 2018 to 124th place for the year 2019 out of 190 economies. In 2017, the Philippines was ranked 99th. The...