Archive for the ‘Taxation’ Category
BIR to do lifestyle check on professionals too
The Bureau of Internal Revenue will conduct a lifestyle check on professionals; this includes lawyers, doctors and accountants. The move is part of the tax agency’s effort to “convince” self-employed individuals to pay the right taxes.
August 2, 2011
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Tags: BIR, business news, income tax, lifestyle check, money, Philippines, professionals, tax, tax target, Taxation, taxes · Posted in: Business News, economy, finance, Government, Law, money, Philippine business news, Philippines, Taxation
BIR falls short of its target for the first semester of 2011
The Bureau of Internal Revenue missed its target for the first six months of the year. The BIR falls short of its target collection, with its total collection in totaling P67 billion which is 2.2% lower that its P68.5-billion target. Last month’s collection brings total collection for the first semester of 2011 to P458 billion, [...]
July 15, 2011
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Tags: BIR, collection target, economy, finance, money, Philippines, tax, tax collection, Taxation, taxes · Posted in: Announcement, Business News, economy, franchise, Government, Law, money, Philippine business news, Philippines, Taxation
BIR stood firm on the April 15 tax deadline
In spite of the appeal of taxpayers for an extension, Bureau of Internal Revenue (BIR) stood firm and kept the April 15 deadline for filing income tax returns (ITRs). Revenue commissioner Kim Henares said there were still a lot of people who filed their returns on the last minute, as she observed when she made [...]
April 16, 2011
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Tags: April 15 deadline, Arroyo, BIR, SALN, tax, tax evaders, tax evasion, Taxation · Posted in: finance, Government, Law, money, People, Philippine business news, Philippines, Taxation
BIR say filing of AIR for 2010 optional
With its implementation met with a lot of protests and not-so-good-comments, the BIR decided to make the filing of AIR for 2010 optional. The Bureau of Internal Revenue (BIR) gave taxpayers leeway by making the annual information returns (AIR) filing optional for 2010. Commissioner Kim Henares said it would give the affected taxpayers time to [...]
March 14, 2011
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Tags: AIR, BIR, income tax, ITR, money, Philippines, RR 2-2011, SALN, tax, Taxation, taxes · Posted in: finance, Government, Law, money, People, Philippine business news, Taxation
The Expanded Senior Act of 2010 (Republic Act 9994)
The Republic Act 9994 or the Expanded Senior Citizens Act of 2010 was finally signed into law, giving our senior citizens additional benefits. Among them is their exemption from the 12% value-added tax (VAT), as stated in the implementing rules and regulations signed last Friday by the Deparment of Social Works and Development (DSWD). This [...]
June 18, 2010
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Tags: Expanded Senior Citizens Act of 2010, Government, Law, Philippines, RA 9994, Republic Act 9994, value-added tax, VAT exemption · Posted in: Announcement, Consumers, finance, Government, Health, Law, Philippines, Taxation
BIR to check on companies’ year-end inventories
Here’s one last attempt of the Bureau of Internal Revenue (BIR) to catch up of companies trying to pull a fast one on the revenue agency. BIR field personnel will be going out and check the warehouses of companies to verify their year-inventories viz-a-viz their submitted year-end declaration. Revenue Memorandum Order No. 40-2009 was issued [...]
December 28, 2009
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Tags: BIR, businesses, entrepreneur, Government, Philippines, taxes · Posted in: Announcement, Corporations, economy, finance, Government, Law, money, Philippine business news, Philippines, Pricing, Products, Taxation
BIR allows claim for income tax deductions due to Ondoy and Pepeng
The Bureau of Internal Revenue (BIR) announced that business taxpayers whose enterprises have been damaged by typhoons Ondoy and Pepeng may file for income tax deduction for the losses they incurred. But the bureau said there should be proof to show the extent of the damage or the condition of the property before and after [...]
October 18, 2009
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Posted in: Announcement, finance, Government, Philippine business news, Philippines, Taxation
Pilipinas Shell gets P22 M tax refund
Pilipinas Shell Petroleum Corp. will be getting P22 million in tax refund. That is because the Court of Appeals (CA) upheld the decision of the Court of Tax Appeals (CTA) to compel the Bureau of Internal Revenue (BIR) to refund or issue a tax credit certificate worth more than P22 million to Pilipinas Shell. According [...]
September 22, 2009
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Tags: BIR, Court of Appeals, Court of Tax Appeals, documentary stamp tax, Philippines, Pilipinas Shell, tax credit certificate, tax refund, taxes · Posted in: Announcement, Corporations, Government, Law, money, Philippine business news, Philippines, Taxation
