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Philippines Achieves Record Fiscal Surplus In April 5/24/2012 The government of the Philippines saw a record fiscal surplus in April 2012,
due to continued double-digit growth in revenue collections which were more than
enough to support accelerated public spending.
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ASEAN, World Bank Monitor Progress To AEC 5/17/2012 The Secretariat of the Association of Southeast Asian Nations and the
East Asia and Pacific Region of the World Bank have signed an agreement for the
World Bank to provide advisory services to ASEAN to strengthen its capacity to
monitor progress towards achieving the ASEAN Economic Community.
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Parliamentary Committee Approves Philippines 'Sin Tax' Reform 5/11/2012 The Ways and Means Committee of the Philippines House of Representatives
has approved an amended version of the bill to reform the existing ‘sin
taxes’ on alcohol and cigarette products.
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US Issues Annual IPR Country Report 5/3/2012 The Office of the United States Trade Representative has released its annual
‘Special 301 Report’ on the perceived adequacy and effectiveness of
US trading partners’ protection and enforcement of intellectual property
rights (IPR).
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ASEAN Enhances Patent Cooperation Programme 5/2/2012 As announced by the Association of Southeast Asian Nations Intellectual
Property Offices, their Patent Examination Co-operation
(ASPEC) programme has now been enhanced, after a regular review at a working
group meeting in Bangkok in November last year.
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ASEAN, EU Confirm Importance Of FTA Talks 5/2/2012 When the foreign ministers of the Association of Southeast Asian Nations and European Union held a meeting in Brunei on April 27, emphasis was
laid on the on-going negotiation of free trade agreements between the two
regions.
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Philippines Wins More Time In Booze Tax Case 5/1/2012 The government of the Philippines has confirmed that it has concluded negotiations
with the United States and the European Union on the reasonable period of
time for it to comply with the World Trade Organization ruling that
the excise taxes it applies on imported distilled spirits are
discriminatory.
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France Publishes Revised 2012 'Black List' 4/26/2012 French Finance Minister François Baroin and Budget Minister Valérie
Pécresse have recently updated the country’s ‘black
list’ of countries deemed to be ‘uncooperative’ in tax matters.
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Philippines Sees Tax Revenues Surge Early In 2012 4/9/2012 Despite rising government spending, the Philippines saw a much reduced PHP5bn budgetary deficit in the first two months of 2012, with the Bureau
of Internal Revenue achieving a significant rise in revenues.
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APEC Focuses On Trade And Investment 4/6/2012 The Asia-Pacific Economic Cooperation is moving ahead with cooperative
efforts to evaluate and identify initiatives to support freer, faster and more
beneficial trade in the region that will lead ultimately, it is hoped, to a Free
Trade Area of the Asia Pacific.
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ASEAN Comprehensive Investment Agreement Enters Into Force 4/9/2012 At the recent 20th Association of Southeast Asian Nations Summit in Phnom
Penh, Cambodia, its leaders welcomed the entry into force of the ASEAN Comprehensive
Investment Agreement.
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Philippines Targets Over USD930m From 100 Tax Cases 4/4/2012 At a press briefing at the Department of Justice, the Philippines’
Bureau of Internal Revenue confirmed that it has now filed a total of 100
cases under its Run After Tax Evaders scheme since the start of President Benigno
Aquino’s government.
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ASEAN Reaffirms Commitment To AEC By 2015 4/4/2012 In Phnom Penh, on April 3-4 2012, at the 20th Association of Southeast Asian Nations Summit, its member states acknowledged the significance of the progress
that has been made in the implementation of the roadmap towards an ASEAN Economic
Community by 2015.
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Last Direct Philippines-EU Flight Cut Over Taxes 3/29/2012 Citing the additional taxes payable by international airlines flying from the Philippines, Air France-KLM is stopping the one remaining direct flight from Manila to Europe.
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Philippines Confident Of Passing 'Sin Tax' Reforms 3/27/2012 The Philippines Budget and Management Secretary Florencio Abad has disclosed
that the government is confident that reform of the country’s alcohol and
tobacco taxes will pass through parliament.
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Thai Stock Exchange Calls For CGT Relief 3/20/2012 The President of the Stock Exchange of Thailand, Charamporn Jotikasthira,
has disclosed that he will request that the Ministry of Finance exempt investments
made through the intra-Association of Southeast Nations trading platform
from capital gains tax.
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Philippines Will Not Cancel VAT On Oil 3/19/2012 Despite political and transport industry pressure following further increases
to the domestic price of oil products, the Philippines government has insisted
that the 12% rate of value-added tax on oil products will remain.
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Philippines Delays Hike In Mining Taxes 3/13/2012 Following concerted opposition from within the sector, the proposed executive
order to increase the Philippine government’s revenues from mining contracts,
which was to have been issued by President Benigno Aquino last month, has been
delayed.
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Philippines Rejects IMF Call For New Taxes 3/9/2012 Presidential spokesman Edwin Lacierda has confirmed that, contrary to suggestions
by the International Monetary Fund, the Philippines will not be introducing any
new taxes in the near future.
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Philippines Advised To Scrap Airline Taxes 3/2/2012 Following a study by Oxford Economics, the International Air Transportation Association has pointed out the benefits that would accrue to the Philippines economy,
if the government was to remove taxes imposed on foreign airlines.
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Philippines Issues New VAT Rules 3/1/2012 The Philippines Bureau of Internal Revenue has recently issued revenue
regulations which affect the payment of value-added tax on the import of
oil products and the sale or leasing of property.
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ASEAN Economic Community On Track For 2015 2/29/2012 The Association of Southeast Asian Nations economic ministers, at the
conclusion of their meeting in Myanmar, noted the developments in the implementation
of various initiatives aimed at establishing the ASEAN Economic Community in 2015.
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APEC Business Leaders Push Asia-Pac FTA 2/29/2012 The Business Advisory Council of the Asia-Pacific Economic Cooperation is focused on taking further steps towards realizing the goal of an integrated
Asia Pacific economy, and on liberalizing and facilitating trade and investment,
leading ultimately to a Free Trade Area of the Asia Pacific.
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Philippines Targets Higher Mining Tax Revenue 2/21/2012 The Finance Secretary Cesar Purisima has disclosed that the Department of Finance
is looking at how tax revenues can be increased, within the government’s
review of its mining sector policies in the Philippines.
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Reform Of Philippine 'Sin Taxes' Gets Closer 2/6/2012 The implementation of the proposed bill to reform alcohol and tobacco taxes, which
is a top priority for the Philippines government while it continues its policy
of not introducing new taxes, has come a step closer with its formal filing
in parliament.
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Philippines Tax Man To Target Professionals 2/3/2012 The Philippines Bureau of Internal Revenue has received an instruction from
Finance Secretary Cesar Purisima to formulate policies leading to
a substantial increase in the income tax compliance of the country’s professionals
and self-employed.
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Canada Secures Greater Access To Philippine Market 1/26/2012 The Canadian government has secured live ruminant market access to the Philippines, a deal which will benefit cattle, sheep and goat producers.
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Philippine Gambling Authority Settles Tax Dispute 1/9/2012 The Philippine Amusement and Gaming Corporation (PAGCOR) has settled unpaid back taxes incurred under the agency’s previous administration amounting to almost PHP857m (USD13.3m) as the government seeks to boost its overall tax take.
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USTR Issues GSP, AGOA Annual Reviews 1/3/2012 United States Trade Representative Ron Kirk has announced the outcome of
the 2010 Annual Review under the Generalized System of Preferences programme,
as well as the results of the annual African Growth and Opportunity Act Eligibility Review.
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Philippines Looks To Increase Individual Income Tax Revenue In 2012 12/27/2011 The Philippines’ Bureau of Internal Revenue has disclosed that it
will raise its budget in 2012 and plans to increase its collection of individual
income tax by some 15%.
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WTO Rules Again Against Philippines Excise Taxes 12/26/2011 In a decision issued on December 21, the Appellate Body of the World Trade Organization has rejected the Philippines’ appeal against the dispute resolution
panel ruling in August, that the excise taxes applied by the Philippines on imported
distilled spirits are discriminatory.
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Philippines Debates Removal Of Airline Taxes 12/13/2011 The Philippines Department of Finance has recently written letters
to the Ways and Means Committees of both the House of Representatives and Senate
to inform them that it 'interposes no objection' to the repeal of
country’s common carrier’s tax, provided that countervailing
tax revenue-raising measures can be identified.
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Singapore Tops Asia-Pac 'Good Governance' Index 12/14/2011 Vriens and Partners, an Asia-focused corporate advisory firm, has issued its 2011
‘Good Governance for International Business’ index of 19 economies
in the Asia-Pacific region, in which Singapore has edged out Hong Kong for the
number one position.
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China Pushes For Faster Asian Trade Liberalization 11/22/2011 China’s Premier Wen Jiabao, in his speech to the 14th Association of Southeast
Asian Nations Plus Three Summit in Bali on November 18, 2011, proposed
that the participating countries should look to accelerate and deepen regional
trade liberalisation and facilitation.
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APEC Approves Cross-Border Privacy Rules 11/18/2011 The Asia-Pacific Economic Cooperation group has approved a new initiative to harmonize cross-border data privacy protection, which is designed to enhance the protection of consumer data that moves between its members, including the United States, at a time when more consumer information is moving across national borders.
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APEC Looks At Regional Economic Integration 11/17/2011 Under the chairmanship of US President Barack Obama, the leaders of the Asia-Pacific
Economic Cooperation group, at their recent meeting in Hawaii, adopted the ‘Honolulu
Declaration’, which looks towards a 'seamless regional economy',
by strengthening regional economic integration and expanding trade, promoting
green growth, and advancing regulatory convergence and cooperation.
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Philippines Encourages Professionals To Pay Their Taxes 11/10/2011 The Bureau of Internal Revenue is urging professionals in the Philippines
to comply with tax laws and file their income tax returns correctly and on time.
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Philippines Increases Thresholds For VAT Exemptions 11/7/2011 The Philippines’ Bureau of Internal Revenue has released revenue
regulations which increase, in line with the rise in the consumer price index,
the threshold amounts for value added tax on sales and leases of residential
lots and houses.
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Philippines Issues Retirement Account Tax Regulations 11/4/2011 The new revenue regulations to implement the tax provisions of the Personal Equity
and Retirement Account Act have been issued by the Philippines Bureau of
Internal Revenue.
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Foreign Airlines Push For Philippines Tax Exemptions 10/26/2011 The Philippines’ Department of Finance is being put under pressure from
foreign airlines to reduce the 2.5% Gross Philippine Billings Tax and the
3% Common Carrier’s Tax to which they are subjected.
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Philippines, Thailand Agree Trade Dispute Settlement 10/20/2011 Filipino and Thai authorities have agreed to a timeframe for the implementation of a resolution following a ruling from the World Trade Organization's Dispute Settlement Board in favour of the Philippines in its action against tax and customs procedures applied in Thailand on imported cigarettes.
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Banks Contest Philippine Bond Tax 10/19/2011 Eight banks in the Philippines have obtained a temporary restraining order from
the Supreme Court against the Bureau of Internal Revenue in its attempt
to impose a 20% withholding tax on the redemption proceeds of the government's
Poverty Eradication and Alleviation Certificates (PEACe) bonds.
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India, Philippines To Revise DTA 10/18/2011 India’s Finance Minister Pranab Mukherjee has confirmed that there are on-going
negotiations for a revision of the existing double taxation agreement between
India and the Philippines.
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Philippines Appeals WTO Booze Tax Ruling 9/29/2011 The Philippines has appealed the ruling, circulated last month, of
a World Trade Organization dispute resolution panel, that the excise taxes
applied by the Philippines on imported distilled spirits are discriminatory.
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Philippines Miners Oppose Proposed 5% Royalty 9/21/2011 Following the recent official statement that tax measures would be introduced
to ensure that part of the increased profits being obtained by mining companies
in the Philippines would be translated into additional tax revenue, the Chamber
of Mines of the Philippines has called for the proposal for a 5% royalty
on mining operations to be revoked.
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EU-Singapore Trade Pact In The Offing 9/8/2011 Following his meeting with Singapore's Prime Minister Lee Hsien Long, the President of the European
Commission, Jose Manuel Barroso (pictured) said that a comprehensive Free
Trade Agreement between the EU and Singapore will likely be finalized 'very soon'.
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Philippines Expects Higher Income Tax Take 9/7/2011 The Bureau of Internal Revenue is aiming to increase individual income tax
collections by at least 20% in 2011, as a result of its campaign in the Philippines
to check the tax affairs of professionals and self-employed individuals.
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Philippines Losing Revenue From Unchanged Sin Taxes 9/6/2011 The Philippines Finance Undersecretary, Gil S. Beltran, has claimed that the government’s
annual loss of revenue will amount to as much as PHP2.4bn from the
lack of inflation linkage alone, until the proposed reforms to alcohol and tobacco
taxes are passed by the country’s parliament.
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WTO Finds Against Philippine Spirits Taxes 8/18/2011 While a dispute resolution panel of the World Trade Organization has decided
that the excise taxes applied by the Philippines on imported distilled spirits
are discriminatory, it has been indicated that the Philippine government will
appeal its ruling.
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Philippine Parliament Suspends Sin Tax Hearing 8/16/2011 The Speaker of the Philippines House of Representatives, Feliciano Belmonte, has
agreed to postpone parliamentary consideration of the bill to introduce a unitary
system of cigarettes and alcohol “sin” taxes in the Philippines.
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Philippine VAT On Road Tolls Effective From October 1 8/15/2011 Following a recent ruling by the Philippines’ Supreme Court, the Bureau
of Internal Revenue has decided to impose a 12% value-added tax on
the country’s road tolls with effect from October 1, 2011.
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Philippine Taxpayers Urged To File Online 8/10/2011 The Philippines Bureau of Internal Revenue Deputy Commissioner, Celia
King, has encouraged taxpayers to enrol in its Electronic Filing and Payment System
(eFPS), which allows taxpayers to file tax returns and pay taxes online.
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Teves Advises Aquino To Increase Philippine Taxes 8/9/2011 The Finance Secretary in the previous government, Gary Teves, has said that President
Benigno Aquino (pictured) should look at increasing taxes in the Philippines sooner rather
than later.
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Philippines Half-Year Fiscal Deficit Plunges 8/4/2011 The Philippine government’s much-reduced deficit in the first half of the
2011 fiscal year was partly due to improved tax collection, but was also the result
of a failure to achieve its spending budget.
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Philippines Issues REIT Revenue Regulations 8/1/2011 The Bureau of Internal Revenue has issued its much-delayed revenue regulation
governing the tax incentives to be granted to real estate investment trusts in the Philippines.
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Philippines Parliament Looks To Increase Tax Revenue 7/27/2011 The Speaker of the Philippines House of Representatives, Feliciano Belmonte, in
his remarks to open its current session, has urged his colleagues to prioritize
measures that would plug loopholes in the country’s tax system and rationalize
its tax incentives law, but not to enact new taxes.
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Philippines Court Approves VAT On Road Tolls 7/25/2011 The Philippines’ Supreme Court has ruled that the Bureau of Internal Revenue
(BIR) can impose a 12% value-added tax on the country’s road tolls.
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Philippines To Give Investors Long Tax Holidays 7/22/2011 While legislation for an Investments and Incentives Code to enhance the competitiveness
of the country’s economy through productive investment awaits final approval,
the Philippines’ Trade Undersecretary for Industry and Investments, Cristino
Panlilio, has said that the government is ready to give investors income tax holidays
for up to eight years.
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Philippines Modifies Insurance And VAT Exemptions 7/14/2011 The Philippine Bureau of Internal Revenue has issued clarifications
to its revenue regulations with regard to the income tax deductibility of insurance
contributions, and to the applicability of value-added tax following takeovers
and mergers.
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Moody's Calls For Philippine Tax Reform 7/13/2011 In an analysis similar to the views previously expressed by Standard and Poor’s last month, Moody’s, another credit rating agency, has expressed
the view that the Philippines will require reforms to produce additional tax revenue,
particularly if it wants to acquire an investment grade rating.
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Philippines REIT Tax Regulations Approved 7/12/2011 It is expected that the much-delayed publication by the Bureau of Internal Revenue of the proposed tax incentives for real estate investment trusts in the Philippines will be published shortly.
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Aquino Rejects Rating Agency's Call For New Taxes 6/29/2011 In an interview, Philippine President Benigno Aquino has dismissed a call from the credit
rating agency, Standard and Poor’s, to impose new taxes, if the
Philippines wants to achieve an investment grade rating.
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Philippines 'No New Taxes' Policy Questioned 6/24/2011 A member of the Philippines House of Representatives has urged its Committee on
Ways and Means to conduct an inquiry into the measures undertaken by the Department
of Finance and Bureau of Internal Revenue to implement the government’s
‘no new taxes’ policy.
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Philippines Incentives Code Clears Hurdle 6/9/2011 The Philippines House of Representatives Committee on Ways and Means has approved
a bill to introduce a proposed Investments and Incentives Code, which
aims to enhance the competitiveness of the country’s economy through investment
promotion and industrial development.
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OECD Reviews Jurisdictions' Tax Transparency 6/2/2011 The Organisation for Economic Cooperation and Development has released a series of new Peer Review reports, covering the exchange of information for tax purposes, and making recommendations for improvements in this area.
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Philippines Five-Year Plan Looks For Fiscal Reforms 6/1/2011 The National Economic and Development Authority has issued the Philippines Development
Plan 2011-2016, which envisions economic growth rates of up to 8% per year
accompanied by increased tax collections.
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APEC Stresses Doha Urgency 5/24/2011 A major negotiating breakthrough is required if the Doha Round is to reach a successful conclusion, with many gaps remaining unbridgeable, the Asia-Pacific Economic Cooperation organization has said.
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Philippines To Announce REIT Tax Exemptions 5/19/2011 It is expected that the much-delayed approval by the Bureau of Internal Revenue of the proposed tax incentives for real estate investment trusts in the Philippines will be available shortly.
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ASEAN Bloc Tackles Trade Obstacles 5/13/2011 Indonesian Minister of Finance Agus Martowardojo has urged members of the ASEAN
trade bloc to implement reforms to establish greater financial sector integration
between nations, including through easing tax and non-tax barriers and setting
up frameworks to mitigate criminality.
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Philippines Due To Roll Out Eco Car Tax Incentives 5/9/2011 Influential Filipino Senator, Ralph Recto is to champion a proposal in the Senate for the
introduction of tax credits to encourage a shift towards the use of more environmentally
friendly fuels to power motor vehicles, urging an end to the country's 'overdependence
on expensive but fast-depleting fossil fuels'.
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Moves To Strengthen SMEs In ASEAN 5/10/2011 In the run-up to the 18th Association of Southeast Asian Nations Summit
later this month in Jakarta, more than 200 participants from the
business community, government and academia, have met in a major symposium to
formulate concrete recommendations on what can be done to strengthen small and
medium-sized entities in the region.
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Philippines, France Agree DTA Amendment 5/9/2011 The Commissioner of the Philippines Bureau of Internal Revenue, Kim
Henares, has disclosed that the Philippines and France have agreed an amendment
to their existing double taxation agreement.
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EU Striving For ASEAN Trade Deal 5/9/2011 Karel De Gucht, the European Commissioner for Trade, in his closing remarks to
the first ever Association of Southeast Asian Nations-European Union Business Summit, has said that the European Commission’s ultimate goal
is a free trade agreement with the region.
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APEC Business Leaders Call For Free Trade Deal 5/3/2011 The APEC Business Advisory Council, formed of business leaders from the
21 economies of the Asia-Pacific Economic Cooperation have recommended,
during a recent meeting in Seoul, that concrete steps should be taken to realise
a Free Trade Area of the Asia-Pacific.
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Philippines Could Increase Taxes After 2011 4/28/2011 In a press briefing, Edwin Lacierda, spokesperson for the Philippines’
President, Benigno Aquino III, has confirmed that there will be no imposition
of new taxes this year, but that the President’s promise did not extend
into 2012.
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BIR Clarifies Long-Term Deposit Interest Tax Treatment 4/21/2011 The Philippines’ Bureau of Internal Revenue has issued a circular
clarifying the income tax exemption of interest income earnings from long-term
deposits or investment certificates.
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Dispute Over Who Handles Philippine Tax Cases 4/13/2011 The Philippines’ Department of Justice has written to parliament in
order to contest a proposal that the responsibility for prosecuting tax-related
cases should be handed to the Department of Finance and the Bureau of Internal
Revenue.
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Philippines BIR Puts Professionals Under Microscope 4/12/2011 The Bureau of Internal Revenue is conducting a campaign in the Philippines
to check the tax affairs of professionals and self-employed individuals, such
as doctors, engineers and lawyers.
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ASEAN Establishes Tax Forum 4/11/2011 Following a meeting in Indonesia, the Finance Ministers of the Association of
Southeast Asian Nations have established a forum on taxation involving
the tax authorities of all member states.
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Philippines Mull 'Sin' Tax Reform 4/1/2011 Philippines’ Finance Secretary, Cesar Purisima, has stated that the introduction
of a unitary system of cigarettes and alcohol 'sin' taxes could provide
a welcome increase in tax revenue, as the government strives to reduce its budgetary
deficit.
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Philippines Looks To Reform Simplified Income Tax 3/21/2011 The Philippines’ House of Representatives Committee on Ways and Means has
approved a bill simplifying the net income taxation scheme that will limit
the allowable business deductions from gross revenues for self-employed individuals
and professionals.
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Aquino Rules Out Philippine Oil Tax Reductions 3/14/2011 President Benigno Aquino III has appeared to reject proposals to cut value added
tax on petroleum products to reduce the inflationary effect of rising global
oil prices in the Philippines.
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Philippines Introduces New Taxpayer Information Return 3/9/2011 The Philippines’ Bureau of Internal Revenue has promulgated regulations
requiring the filing by certain taxpayers of an annual information return,
either alone or in addition to their annual tax return, beginning with income
earned in the 2010 tax year.
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Philippines Not Ready To Raise Taxes 3/8/2011 Despite recent suggestions from the International Monetary Fund and the
Philippine Institute for Development Studies that it would have to raise
taxes in order to meet its future revenue targets, the Philippine government has
repeated its intention not to do so, except as a last resort.
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Move To Rationalise Philippines Investment Tax Incentives 3/4/2011 The Speaker of the Philippines House of Representatives, Feliciano Belmonte, is
proposing a bill that would consolidate and rationalize investment incentives,
in an effort to use investments to promote growth in the economy.
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EU Promotes FTA With Philippines 2/28/2011 There has been a further confirmation from the European Union that it is
ready to negotiate a free trade agreement with the Philippines.
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Philippines Moves Towards Air Carrier Tax Exemptions 2/24/2011 The Philippines’ House of Representatives Committee on Ways and Means has
approved a bill to recognize the tax exemptions for international air carriers,
under tax treaties and international agreements signed by the Philippines.
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Purisima Climbs Down Over Philippine REITs Rules 2/21/2011 Cesar Purisima, the Philippines Finance Secretary, has disclosed that the government
is now willing to accept that the proposed tax incentives for real estate investment
trusts will be available even if a majority of their shares are not listed
on the stock exchange.
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Plea For Philippines Billing Tax Exemption 2/2/2011 Hermilando Mandanas, chairman of the Committee on Ways and Means of the House
of Representatives, has projected that the Philippines would gain significant amounts
from boosted tourism and export earnings by exempting international air carriers
from paying the Gross Philippine Billings Tax and Common Carrier’s
Tax.
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ADB Says Asian FTAs Need Consolidation 1/25/2011 A new book from the Asian Development Bank and the Asian Development Bank
Institute considers that Asia is benefiting hugely from the many free trade agreements reached over the last decade, but that the region now needs to consolidate
those agreements.
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Philippines Stock Exchange Rejects Tax Increase 1/25/2011 Hans B. Sicat, president and chief executive officer of the Philippine Stock Exchange, has written to the Philippines Securities and Exchange Commission rejecting any claim by the Bureau of Internal Revenue to impose an
increased capital gains tax on listed companies.
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Philippines Mulls New Oil Exploration Legislation The Department of Energy is hoping that a new oil exploration law will be introduced into parliament to clarify, and possibly increase, the incentives given to companies in the granting of profit-sharing contracts. |
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Philippines To Restrict Tax Incentives For Listed Companies 1/19/2011 The Philippines Bureau of Internal Revenue is insisting that, to maintain
their tax incentives, listed companies will need to prove their compliance with
a minimum 10% public holding of their share capital.
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No New Taxes In Philippines Legislative List 1/13/2011 It has been confirmed that there will be no new taxes contained within the Philippine
government’s proposed legislative programme to be presented to the country’s
parliament for approval shortly.
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Philippines To Suffer Fewer Tax Losses in 2011 1/5/2011 The Assistant Secretary of the Philippines' Department of Finance, Gil Beltran,
has disclosed that the government expects fewer measures eroding its tax revenues
to be made effective in 2011.
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Philippines' Budget Deficit Now On Track 12/23/2010 The Philippines’ government managed a small surplus last month, which, for
the first time, brought the fiscal deficit within its 2010 budgeted target.
|
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Philippines Looks For Increased Mining Royalties 12/21/2010 The Philippines’ Department of Environment and Natural Resources is proposing
to recommend to President Benigno Aquino III, by the end of the year, that the
collection of royalties should be enforced from operating mines in the country.
|
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Philippines To Consider Simplified VAT 12/9/2010 The Committee on Ways and Means of the Philippines’ House of Representatives
has approved a bill, which would impose a value-simplified tax, in place
of the value added tax.
|
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PSE-Listed Firms May Lose Tax Breaks 12/2/2010 The Philippines Department of Finance is to insist that, to maintain their
tax incentives, listed companies will need to prove their compliance with the
minimum 20% public holding of their share capital.
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Philippines To Rationalise Investor Tax Incentives 11/30/2010 The Philippines' Department of Finance, the Department of Trade and Industry
and the National Economic and Development Authority are to produce a joint plan
to rationalize the tax incentives available to local investors.
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