The BIR is planning to auction off Marcos properties BIR — The Bureau of the Internal Revenue is planning to auction off some of the properties of late President Ferdinand Marcos as his heirs continue to refuse in paying the estate tax. Last March 30, the BIR disclosed in a report to Finance Secretary Carlos … Read more
President Duterte: “Nand’yan ang BIR, so tanungin natin ang BIR bakit hanggang ngayon, hindi nakolekta ‘yung estate tax?” PRESIDENT DUTERTE — Without naming names, the Philippine President has asked the Bureau of Internal Revenue (BIR) why it hasn’t yet collected a certain estate tax due. The President said in his weekly televised “Talk to the … Read more
BIR and PAGCOR allegedly failed to get taxes from “online sabong” operations, according to Senator Tolentino. On Monday, Senator Francis Tolentino chided the Philippine Amusement and Gaming Corporation (PAGCOR) and the Bureau of Internal Revenue (BIR) for allegedly failing to withhold the 20% tax from the winning profits of “online sabong” (online cockfighting) operations. During … Read more
Manila Mayor Isko Moreno: “There is no such thing as $15 million. It is prohibited by law.” ISKO MORENO — Manila Mayor Francisco Domagoso denied allegations that he received some USD 15 million from tech billionaire Bill Gates. Moreno made the statement during the CNN Philippines presidential debates after Jose Montemayor, who is also running … Read more
BIR: “All candidates, political parties/party-list groups, and campaign contributors are required to register with the BIR.” BIR — The Bureau of Internal Revenue warns of penalties against unregistered and tax-evading political parties and candidates. The tax bureau has reminded political candidates, political parties, as well as campaign financiers of their obligations ahead of May 2022 … Read more
BIR planned to start affixing tax stamps on alcoholic drinks this year. BIR — After years of delay, the Bureau of Internal Revenue planned to start affixing tax stamps on alcoholic drinks this year in order to better monitor excise payments. The list of the tax bureau’s priority programs and projects issued by Internal Revenue … Read more
The BIR was eyeing to increase digital payments by 50% in 2022. BIR — The Bureau of Internal Revenue was aiming to increase digital payment transactions to 50% in 2022 by accelerating modernization efforts. In a statement, the BIR said that it targeted to increase digital payment (ePayment) transactions by 50% in 2022 as modernization … Read more
The DOF has proposed the centralized government collection system through BIR. DOF — The Department of Finance has proposed that all government collection be coursed via the Bureau of Internal Revenue (BIR) as part of efforts in order to centralize business transactions in the Philippines. According to Finance Secretary Carlos Dominguez, the Department of Finance … Read more
The DOF wanted fintech companies to be “properly” taxed and regulated. DOF — The Department of Finance wanted fintech companies in the Philippines to be properly taxed and regulated while urging the sector’s growth and continued innovation. On Tuesday, DOF Secretary Carlos G. Dominguez III said in a statement that he has tasked the Bureau … Read more
The BIR will strengthen tex regulations as fintech usage grows, according to DOF. DOF — The Department of Finance said on Friday that the Bureau of Internal Revenue (BIR) will strengthen tax regulations for the financial technology (fintech) industry as online transactions continued to gain traction during the pandemic. Revenue Deputy Commissioner Marissa Cabreros recently … Read more