by ev3v4hn | Aug 17, 2020 | Business News
Raids conducted by the Bureau of Internal Revenue’s (BIR) “strike team” against the illicit trade of cigarettes have already yielded over P1.2 billion in counterfeit sticks and fake tax stamps at a time when the government needed more revenues to finance its COVID-19 response. BIR Deputy Commissioner Arnel S.D. Guballa told the Inquirer they confiscated […]
by ev3v4hn | Jul 29, 2020 | Business News
The Bureau of Internal Revenue (BIR) has given online businesses one more month, or until Aug. 31, to register without penalty as movement restrictions remained in place despite a less-stringent COVID-19 community quarantine. The original cutoff date was July 31 or...
by ev3v4hn | Jul 27, 2020 | Business News
The Bureau of Internal Revenue (BIR) is bent on collecting 5 percent franchise taxes owed by Philippine offshore gaming operators (Pogos) based overseas despite opposition from the Philippine Amusement and Gaming Corp. (Pagcor). In a statement on Monday (July 27), the...
by ev3v4hn | Jul 10, 2020 | Business News
To plug hefty tax leakages from local and foreign deals involving related parties, the Bureau of Internal Revenue (BIR) on Friday mandated reporting of these types of transactions. The country’s biggest tax-collection agency published Revenue Regulations (RR) No....
by ev3v4hn | Jul 9, 2020 | Business News
Medicines for diabetes, high cholesterol and hypertension are exempt from value-added tax (VAT), so importations slapped with the 12-percent levy at the start of the year will be refunded, the Bureau of Internal Revenue (BIR) said on Thursday (July 9). The BIR...
