2018

Government dismantling REIT hurdles

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By Elijah Joseph C. Tubayan, December 5 2018; Business World https://www.bworldonline.com/government-dismantling-reit-hurdles/ Image Credit to Business World GOVERNMENT MOVES to dismantle the two roadblocks to the establishment of real estate investment trusts (REIT) may finally kick-start their formation. At a hearing of the House of Representatives Economic Affairs committee on Tuesday, an official of the Securities and […]

2018

Palace: It’s a go for fuel tax hike

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By Christine O. Avendaño, Jovic Yee, Julie M. Aurelio https://newsinfo.inquirer.net/1059687/palace-its-a-go-for-fuel-tax-hike Image Credit to Inquirer.net Malacañang is supporting the decision of government economic managers to push through with the second round of fuel tax increases next month. Presidential spokesperson Salvador Panelo said the economic managers had their reasons for withdrawing their initial recommendation to suspend the fuel tax increase […]

2018

Alcohol tax hike hurdles House committee on 2nd reading

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By Charmaine A. Tadalan, November 26 2018; Business World https://www.bworldonline.com/alcohol-tax-hike-hurdles-house-committee-on-2nd-reading/ Image Credit to Philippine Star A BILL imposing higher excise taxes on alcohol products was approved on second reading at the House of Representatives on Monday. House Bill 8618, approved by voice vote, is expected to generate P60 billion within five years of implementation. The measure […]

2018

DOF reviewing mechanics of fuel excise tax suspension

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By Rea Cu, November 27 2018; Business Mirror https://businessmirror.com.ph/dof-reviewing-mechanics-of-fuel-excise-tax-suspension/ Image Credit to Business Mirror THE Department of Finance (DOF) is reviewing the measure on the suspension of the fuel excise tax increase for 2019, looking at how to shorten the period of the suspension when it is implemented next year. Finance Secretary Carlos G. Dominguez […]

2018

House committee approves tax measures on passive income

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By Charmaine A. Tadalan, November 21 2018; Business World https://www.bworldonline.com/house-committee-approves-tax-measures-on-passive-income/ Image Credit to Business World THE HOUSE WAYS and Means Committee on Wednesday approved the bill simplifying the tax regime for financial investors, which forms part of the government’s comprehensive tax reform program (CTRP). After a fourth deliberation, the unnumbered Substitute Bill, which proposes to […]

2018

Non-extension of TEZ incentives may adversely impact tourism competitiveness

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By Catherine Talavera, November 19 2018; Philippine Star https://www.philstar.com/business/2018/11/19/1869682/non-extension-tez-incentives-may-adversely-impact-tourism-competitiveness Image Credit to Business World MANILA, Philippines — The possibility of not extending the grant of incentives given to Tourism Enterprise Zones (TEZ) is seen to put a dent in the competitiveness of the country’s tourism sector. “For us, it’s similar from what we see in the […]

2018

Duterte gives go-ahead for halting 2019 fuel tax hike

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By Rea Cu, November 15 2018; Business Mirror https://businessmirror.com.ph/duterte-gives-go-ahead-for-halting-2019-fuel-tax-hike/ Image Credit to Philippine Daily Inquirer THE government is holding off the increase in fuel excise tax of P2 per liter in 2019, as President Duterte has given his go-ahead to the inflation-busting recommendation of economic managers. Budget Secretary Benjamin E. Diokno said the President may issue […]

2018

Zubiri backs action on ‘non-inflationary’ tax reform

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By Charmaine A. Tadalan, November 8 2018; Business World https://www.bworldonline.com/zubiri-backs-action-on-non-inflationary-tax-reform/ Image Credit to Philippine Star SENATE Majority Leader Juan Miguel F. Zubiri said the Department of Finance (DoF) needs to focus on tax measures that will have minimal inflationary impact. “I think we should sustain the momentum in containing inflation before we tackle another tax proposal […]

2018

Fuel tax hike suspension stands, review possible next year — DoF

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By Arjay L. Balinbin, November 7 2018, Business World https://www.bworldonline.com/fuel-tax-hike-suspension-stands-review-possible-next-year-dof/ Image Credit to Business Mirror THE SUSPENSION of additional increases in fuel excise tax next year will continue even amid signs that international oil prices will not breach $80 per barrel in the last quarter of the year, Finance Assistant Secretary Antonio Joselito G. Lambino […]

2018

No railroading TRAIN 2 by Christmas

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By Butch Fernandez, November 7 2018; Business Mirror https://businessmirror.com.ph/no-railroading-train-2-by-christmas/ Image Credit to Business Mirror SENATORS said on Tuesday Congress is not likely to wrap up plenary deliberations and approve the Duterte administration’s second package of the Tax Reform for Acceleration and Inclusion, also known as TRAIN 2, before lawmakers adjourn for their traditional Christmas recess from […]