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News and Events

High-Profile Tax Evasion Cases: Lessons for Ordinary Taxpayers

How to avoid being the target of the next Bureau of Internal Revenue (BIR) tax investigation

The Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) have been implementing their Run After Tax Evaders (RATE) program since 2005. The program aims to investigate criminal violations of the National Internal Revenue Code of 1997 and prosecute criminal ...

by Raymond Abrea  | April 11, 2018 12:00:00
News and Events

How Much Income Tax Will Manny Pacquiao, Kris Aquino, John Lloyd Cruz and Other Top Taxpayers Pay Under the New Tax Law?

Hypothetically, the country's top taxpayers are going to pay much more

Much of what has been written about the newly signed tax law, the Tax Reform for Acceleration and Inclusion (TRAIN) law, suggest that the new measure will lead to lower personal income tax payments of most wage and salaried employees. In fact, ...

by Entrepreneur Staff  | December 27, 2017 10:00:00
News and Events

‘Pera Na Naging Bato Pa’: Duterte Vetoes New Perks for Self-Employed and Professionals Earning Less Than Php500K Under New Tax Law

He also shot down four other provisions of the TRAIN law that takes effect Jan. 1, 2018

President Rodrigo Duterte has vetoed five provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) law which he signed last December 19 and is set for implementation on January 1, 2018.The law incorporates the first phase of his administration’s tax reform ...

by Entrepreneur Staff  | December 23, 2017 12:00:00
News and Events

The Extremely Busy Person’s Guide to the New Tax Law Just Signed By President Duterte

If you don’t have time or patience to read the new TRAIN law, this infographic’s for you

At 145 words, the official title of the new tax law just signed by President Rodrigo Duterte on Dec. 19 – “An Act Amending Sections … “ already makes for tedious reading. How much more the body of the Tax Reform for ...

by Entrepreneur Staff  | December 19, 2017 05:00:00
News and Events

How Much Cut in Personal Income Taxes Can You Expect Under the Newly Ratified Tax Reform Bill?

President Rodrigo Duterte just needs to sign the bill and it will take effect 15 days later

With the ratification of the reconciled version of the Tax Reform for Acceleration and Inclusion (TRAIN) bill by the two houses of Congress on Dec. 13, the government moves closer to its promise to sharply lower personal income taxes next year. The ...

by Entrepreneur Staff  | December 14, 2017 04:00:00
News and Events

Guess What Happens to Your Personal Income Tax Dues Under the Newly Approved Senate Tax Bill

A comparison of the estimated impact on personal income tax rates of the House and Senate tax proposals

In his press release announcing the Senate’s approval of the legislative body’s version of the tax reform package on November 28, the bill’s principal author Senator Sonny Angara said it was the biggest tax relief to be granted the country’s workers.The Senate ...

by Entrepreneur Staff  | November 29, 2017 07:00:00
News and Events

Cash Transfers for the Poor, Tax Cuts for the Middle Class and Tax Hikes for the Very Rich

Is the Duterte administration’s first tax reform package equitable enough?

 As with most government policies, the impact of the Duterte administration’s proposed first tax reform package on households depends to a large extent on their income level.Called the Tax Reform Acceleration and Inclusion (TRAIN) Act, the proposed tax measure was approved on ...

by Entrepreneur Staff  | June 19, 2017 03:00:00
News and Events

How Many Taxpayers Will Pay Zero Income Tax Under the Duterte Tax Plan?

Most will enjoy lower tax rates but some will will face a heavier burden

By proposing to cut income tax rates for most taxpayers, the Duterte administration’s economic managers have shown a certain boldness in policymaking that goes beyond the tepid parameters of past tax reform initiatives.Since the Ramos administration’s comprehensive tax reform package in the ...

by Entrepreneur Staff  | May 17, 2017 12:00:00
News and Events

Proposed Tax Cuts Could Boost Most Employees’ Incomes by More Than 10%

The DOF’s Online Tax Calculator shows hefty tax savings for taxpayers under the proposed tax package

As part of its efforts to raise public awareness about the Duterte administration’s proposed tax reforms, the Department of Finance (DOF) launched an online tax calculator that allows taxpayers to find out exactly how much income taxes they’ll be paying under the new ...

by Pauline Macaraeg  | May 12, 2017 04:00:00
Run & Grow

Financial Adviser: 5 Types of Income You Don’t Have to Pay Tax on This April 15

Here's some good news this tax-filing season

Q: It’s tax season once again and my accountant has been asking me for information on how much income I earned last year as part of their preparation for my annual income tax return this April. Are all earnings subject to income ...

by Henry Ong  | March 28, 2017 11:00:00
Startup Tips

What you need to know about income tax filing

Tax whiz Mon Abrea answers the frequently asked questions of taxpayers.

As the income tax filing deadline looms, most taxpayers are still confused about what to prepare, let alone what form to fill out with the multiple choices the Bureau of Internal Revenue (BIR) has made available to the public.Entrepreneur Philippines talked with ...

by Elyssa Christine Lopez  | April 08, 2016 07:00:00
Startup Tips

Financial Adviser: 5 ways to prepare for income tax filing

Know the things that you should prepare prior to filing your income tax returns.

by Henry Ong  | March 15, 2016 09:00:00
Startup Tips

Who pays tax?

All “persons” living in the Philippines must pay tax. The National Internal Revenue Code defines "person" as an individual, a trust, an estate, or a corporation. The term corporation includes partnerships, joint stock companies, and associations registered or unregistered with the Securities ...

by Riva Khristine Maala  | April 01, 2013 01:00:00
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