Tax 1

Omnibus Law That Applies To All Businesses To Be Proposed By The DOF

The TRAIN 2 law has been announced and submitted. In accordance with it, businesses and corporations expect to enjoy lower corporate income tax. In a statement over the weekend, however, the Department of Finance said that these businesses and corporations...
bir tax

BIR Aims For Higher Collection Target In 2016

The Bureau of Internal Revenue, the government's largest revenue collection agency is under pressure for its collection target for 2016 is a whopping P2 trillion, which is 21 percent higher compared to last year's goal of P1.674 trillion. Based on...
income tax

Lower Taxes Pushed By Congress

We recall that in September, President Aquino objected against the proposal to reduce income tax rates. The bill already in Congress calculates for P30-billion revenue losses in government collections and Aquino has not been convinced that reducing taxes would bring...