tax exemption - updates

Rappler's latest stories on tax exemption


Books will stay tax-exempt under Trabaho bill – DOF

Sep 25, 2018 - 2:35 PM

'Contrary to the wrong information spreading online, the Trabaho bill will not remove the VAT and customs duties exemption on the publication, sale, and importation of books,' says the Department of Finance

India withdraws controversial tax on sanitary pads

Jul 22, 2018 - 6:30 PM

'I think all women will be happy to know that sanitary pads will now have 100% exemption,' says India's acting finance minister Piyush Goyal

NO TAX. In this file photo taken on April 10, 2018 Indian employees at the Myna Mahila Foundation prepare sanitary pads at their office in Mumbai. India has withdrawn a controversial tax on sanitary pads as a part of slew of changes to its national goods and services tax ahead of next year's general election. Photo by Indranil Mukherjee/AFP

Flying to BIMP-EAGA? Travel tax waived for certain travelers

May 10, 2018 - 6:30 PM

BIMP-EAGA includes Brunei, Indonesia, and Malaysia, and the travel tax exemption aims to 'accelerate economic development in Mindanao and Palawan'

DUTERTE'S ORDER. President Rodrigo Duterte orders the travel tax exemption of Mindanao and Palawan travelers flying to BIMP-EAGA. Malacañang file photo

Senate OKs P250K annual income tax exemption

Nov 22, 2017 - 2:42 PM

The Senate follows the version of the Department of Finance and House of Representatives

Photo by Camille Elemia/Rappler

The problem with our tax system and how it affects us

Jan 21, 2017 - 3:00 PM

Not only do our taxes disproportionately burden the poor and benefit the rich but they also yield too little revenue given the distortions they create Needless to say both problems need to be resolved soon

Implement new tax exemption rules on balikbayan boxes – Angara

Nov 12, 2016 - 2:53 PM

Senator Juan Edgardo Sonny Angara says this will help overseas Filipino workers OFWs sending home goods for Christmas

TAX EXEMPTION. A new law imposes a higher tax exemption ceiling on balikbayan boxes. File photo from the Bureau of Customs

Recto: Why the delay in implementing VAT exemption for PWDs?

Oct 28, 2016 - 10:04 PM

The Senate Minority Leader says 7 months since the law was signed concerned government agencies have yet to promulgate its implementing rules and regulations

Aquino signs law increasing tax-exempt value of balikbayan boxes

May 31, 2016 - 7:04 PM

UPDATED President Benigno Aquino III signs the Customs Modernization and Tariff Act which is expected to reduce corruption in the Bureau of Customs as well as technical smuggling in the country

GOOD FOR OFWS. With the new law, OFWs will now pay less whenever they send balikbayan boxees to their loved ones in the Philippines. File photo by Jay Directo/AFP

Aquino signs law on VAT exemption for PWDs

Mar 30, 2016 - 9:15 AM

2ND UPDATE Filipinos with disabilities can breathe a sigh of relief following the signing of Republic Act 10754 which now allows them to fully enjoy their mandated discounts

Binay's proposed income tax exemption ‘good for the masses’

Feb 11, 2016 - 7:23 PM

The Vice President plans to convene the Legislative Executive Development Advisory Council during his first 100 days to push for his income tax exemption proposal

FOR THE SAKE OF THE POOR. Vice President Jejomar Binay delivers his speech during his campaign rally at the covered court of San Sebastian Recoletos de Cavite in Cavite City on February 11. He tells the crowd about his proposal to remove the income tax for employees earning P30,000 and below. Photo by Lito Boras/Rappler

Senate approves customs modernization act

Jan 18, 2016 - 9:47 PM

The act will modernize and digitize procedures raise tax exemptions on balikbayan boxes and raise penalties for smuggling

House panel OKs tax break for first-time home buyers

Dec 04, 2015 - 6:02 PM

Under the proposed measure first time home buyers are also entitled to at least 5 discount from housing contractors and suppliers

HOUSE FOR SALE. The bill aims to encourage people to purchase their own houses as construction boom may benefit the economy.

Pope to priests, nuns: Help refugees or pay taxes

Sep 18, 2015 - 11:47 AM

A religious school is tax exempt because it is religious but if it is functioning as a hotel then it should pay taxes just like its neighbor Pope Francis says

HOLY FATHER. Pope Francis delivers his Sunday Angelus prayer from the window of the apostolic palace overlooking St Peter's Square, Vatican City, on August 30, 2015. Photo by Claudio Peri/EPA

Customs heeds Aquino's order on Balikbayan boxes

Aug 25, 2015 - 2:51 PM

The bureau will follow effective immediately President Aquino’s directive on no physical check of balikbayan boxes Customs Bert Lina says

 RLMPhotography2015/UBE Media/BOC-PIAD

Recto's balikbayan box bill to increase tax exemption to $2,000

Aug 24, 2015 - 10:33 PM

The proposed law seeks to exempt the tax exempt value of the contents of a balikbayan box to 2 000 from the current 500

#AskTheTaxWhiz: How are withholding taxes computed?

Jul 20, 2015 - 4:00 PM

And are all 13th month pay and bonuses exempted from income tax starting this year?

Tax exemption cap only for 13th month, other bonuses – BIR

Mar 16, 2015 - 5:52 PM

The exclusion from gross income is not applicable to self employed individuals and income generated from business says the Bureau of Internal Revenue

Give Pacquiao tax exemption in Mayweather bout – senator

Feb 27, 2015 - 5:44 PM

Senator Aquilino Pimentel III wants to inspire the boxing champ with the incentive but Philippine tax laws do not exempt modern day heroes – the ‘People’s Champ’ included

INCENTIVE. Senator Aquilino Pimentel III believes Manny Pacquiao deserves a special tax exemption in his earnings from the May 2 fight with Floyd Mayweather Jr. Photo by Ethan Miller/Getty Images/AFP

BIR lowers quarterly revenue goals for 2015

Feb 16, 2015 - 1:00 PM

The Bureau of Internal Revenue sets the highest collection target in the second quarter of the year covering the April 15 deadline for income tax returns

10 with MERS symptoms, Purisima leaves, freed AJ staff | The wRap

Feb 13, 2015 - 7:02 PM

10 more are quarantined for MERS symptoms Ex police chief Purisima moves out of Crame Egypt frees Al Jazeera journalists

Aquino signs law raising tax exemption cap for bonuses

Feb 12, 2015 - 6:10 PM

UPDATED The new law raises the tax exemption ceiling on 13th month pay Christmas bonuses and other workers benefits to P82 000

AirAsia plane search, Bilibid probe, tax exemption | The wRap

Dec 29, 2014 - 9:05 PM

The search for the missing AirAsia plane continues The Justice secretary sacks more prison officials Some Filipino workers’ benefits are now tax exempt

Filipino workers to enjoy higher tax exemption

Dec 28, 2014 - 3:52 PM

The government allows an additional P10 000 worth of benefits starting January 15

VOTER'S REGISTRATION. Overseas absentee voters register for the 2016 elections at the Philippine embassy in Riyadh, Saudi Arabia, on Tuesday, May 6, 2014. Photo by the Philippine Embassy in Riyadh

House OKs P82k tax exemption cap for Christmas bonuses

Dec 01, 2014 - 7:27 PM

The House of Representatives adopts the Senate version of the bill It only needs the President s signature to become a law effective December 2015

Senate hikes proposed 13th month pay tax exemption to P82k

Nov 19, 2014 - 12:04 PM

The Senate which has passed the bill on second reading views the measure as a timely Christmas gift for hard working Filipinos

CHRISTMAS GIFT FOR WORKERS? Senator Juan Edgardo Angara (right) confers with Senate President Pro Tempore Ralph Recto during a hearing on the proposed higher tax exemption on workers' 13th month pay. File photo by Senate PRIB

Catholic school wins versus BIR's Henares

Nov 05, 2014 - 7:17 PM

A Makati court declares unconstitutional a BIR memorandum that requires schools to justify their tax exempt status

Christmas card to consumers: Raise tax exemption on 13th month pay

Oct 22, 2014 - 6:28 PM

Full text of Senate President Pro Tempore Ralph Recto s co sponsorship speech on the bill seeking to raise to P75 000 the amount of 13th month pay that is exempted from taxes

PASS THE LAW. Senator Ralph Recto delivers on October 22 his co-sponsorship speech on the bill raising to P75,000 the tax exemption on 13th month pay of workers. Photo of Recto's office

Tax exemptions: The pros and cons

Oct 18, 2014 - 2:15 PM

Rappler talks to Marikina City Representative Miro Quimbo on tax exemptions and its pros and cons

House OKs bill raising tax exemption cap for bonuses to P70k

Sep 26, 2014 - 11:58 PM

House Bill 4970 seeks to increase the ceiling for tax exemptions for Christmas bonuses and 13th month pay from P30 000 to P70 000

DOF opposes plan to raise 13th month pay tax exemption cap

Feb 20, 2014 - 4:31 PM

Raising the cap will result in billions of pesos in foregone revenues that government can use for social services says the Finance department

DEFICIT SPENDING. The Philippines is hard-pressed to shore up tax collections to trim its budget deficit. AFP Photo

Congress to raise 13th month pay tax exemption cap

Feb 18, 2014 - 11:31 AM

Drilon says Congress will prioritize a bill raising the tax exemption cap on the 13th month pay to P75 000 from P30 000

Napoles was basis for BIR clampdown on schools

Jan 14, 2014 - 8:30 PM

Napoles NGO scam prompts the BIR to go after schools and foundations

Nuns storm heavens with prayers vs Kim Henares in tax case

Jan 09, 2014 - 6:13 PM

Nuns of different shades come in full force and storm the heavens with silent prayers before the court hearing begins

Why the BIR is running after schools

Jan 04, 2014 - 5:27 PM

There is a lingering suspicion that some are defrauding government of its lifeblood

Catholic school wins Round 1 vs BIR’s Henares

Dec 28, 2013 - 7:08 PM

It is a case that crosses religious lines and covers even non sectarian schools as it could impact on their tax exempt status

Tax exemption for Pacquiao? No way, says Palace

Dec 06, 2013 - 3:25 PM

It s the duty of every citizen to pay the right taxes Paying taxes is one of the basic obligations of every Filipino citizen says a presidential spokesman

GAG ORDER. A Philippine court decision disallows Manny Pacquiao and the tax bureau to speak about the former's alleged tax evasion case. File photo from EPA/Dennis Sabangan

Foreign aid: Process from donor to beneficiaries

Nov 15, 2013 - 5:54 PM

The government puts up a one stop shop to cater to all incoming assistance

TO TACLOBAN. US Marine Corps, Marines board a KC-130J Hercules aircraft on November 10, 2013 at Marine Corps Air Station Futenma, Okinawa, Japan, moments before departing for a humanitarian assistance and disaster relief mission to the Philippines. Photo by AFP/USMC/Lance Cpl. David N. Hersey

Recto wants tax breaks for those who care for elderly, disabled

Aug 04, 2013 - 2:34 PM

Recto says the status quo does not help Filipino taxpayers who naturally wish to care for their elders

OceanaGold completes first concentrate shipment

Apr 09, 2013 - 5:56 PM

The Australian miner clears tax hurdles allowing it to ship out 5 000 dry metric tons of gold copper concentrate from Nueva Vizcaya

FIRST SHIPMENT. Australian miner OceanaGold cleared tax hurdles to complete its first concentrates shipment to Japan. Photo from media website of OceanaGold

OceanaGold pays tax, resumes shipment

Mar 14, 2013 - 9:24 AM

Australian miner OceanaGold Corp reluctantly paid excise taxes to proceed with the shipment of ores from its Didipio mine

SETTLEMENT. Miner OceanaGold reluctantly paid taxes so it could proceed with the shipment of ores from this Didipio mine where open pit operations started last December 2012. Photo from media website of OceanaGold

Color-plated cars in ecozones pushed

Feb 19, 2013 - 6:14 AM

Finance and Transportation departments collaborate to implement different colored license plates in economic zones to prevent car smuggling

Cars imported into economic zones may soon have to have different colored license plates. Source AFP

BIR to homeowners associations: No more tax perks

Feb 06, 2013 - 12:12 PM

Homeowners associations are now required to pay value added tax