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News and Events

It's Definite: TRABAHO Bill Won't Remove Tax Exemption of Books, says DOF

Books will continue to enjoy exemption from VAT and import duties, according to top official

  Moving to end the social media chatter that the Duterte administration’s second tax reform package will result in the re-imposition of the value added tax (VAT) and import duties on books, the Department of Finance (DOF) issued a statement on September 25 ...

by Elyssa Christine Lopez  | September 25, 2018 06:00:00
News and Events

Will TRAIN 2 Mean More Expensive Books?

Here's what you should know about the TRABAHO bill and what it means for our book industry

You've probably seen the posts circulating online raising the alarm on a particular section of the TRAIN 2 bill that has just been approved by Congress. You may even have signed this petition to protest the provision.In short, the TRAIN 2 tax ...

by Esquire Philippines  | September 18, 2018 12:00:00
News and Events

House Approves Bill Cutting Corporate Income Taxes From 30% to 20% Over 11 Years

TRABAHO bill also aims to reduce and rationalize fiscal incentives

The House of Representatives has approved on third and final reading the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) bill, the second package of the government’s comprehensive tax reform program, according to news reports.Related story: Call it TRAIN 2 or ...

by Elyssa Christine Lopez  | September 10, 2018 07:00:00
News and Events

Call It TRAIN 2 or TRABAHO, Small Businesses Stand to Benefit From Lower Corporate Income Taxes

New tax reform bills aim to reduce income taxes on companies from 30% to 20-25%

The second package of the Comprehensive Tax Reform Package is back in the spotlight after President Rodrigo Duterte urged its approval in his third State of the Nation Address. According to the President, Package 2 will benefit all businesses especially small and ...

by Raymond Abrea  | August 22, 2018 10:00:00
News and Events

Under TRAIN Law, Consumer Spending Was Supposed to Grow Faster. Here's What Really Happened

The faster pace of price increases is upending the government's neat plan

When the Tax Reform for Acceleration and Inclusion (TRAIN) law took effect in January 2018, President Rodrigo Duterte’s economic managers expected consumer spending growth to pick up as employees were expected to receive higher take-home pay. Under the law, taxpayers earning a taxable ...

by Elyssa Christine Lopez  | August 15, 2018 09:00:00
Franchising

Want to Get into Franchising? Here's a Guide to Taxes You Must Consider

A leading tax expert says it's better to be safe than be sorry when it comes to business taxes

The economic gains and opportunities contributed by the fast-growing micro, small, and medium enterprises (MSMEs) are undeniable. As of 2016, MSMEs comprised 99.57 percent of the businesses in the country, contributing 63.3 percent of the employment for the same year.Under the Duterte ...

by Mon Abrea  | August 14, 2018 01:00:00
News and Events

Lotto Ticket Prices Up 20% Starting July 8 Due to TRAIN Tax Law

Cost of playing popular game of chance rises after doubling of documentary stamp tax rates

Lottery and other gaming tickets sold by the Philippine Charity Sweepstakes Office (PCSO) will cost 20 percent more due to higher taxes brought about by the Tax Reform for Acceleration and Inclusion (TRAIN) law that took effect early this year.Starting July 8, ...

by Pauline Macaraeg  | July 06, 2018 01:00:00
News and Events

Small Stores or Supermarkets: Who's Hurting More from the New Tax on Sugary Drinks?

Revealing numbers from a Nielsen study on the effects of the new tax on sweetened beverages

Neighborhood sari-sari stores have been adversely affected by the new tax on sweetened beverages more than bigger supermarkets, according to a report by market analyst Nielsen.In the study, Nielsen revealed that sari-sari stores saw larger declines in sales volume for different kinds ...

by Lorenzo Kyle Subido  | April 20, 2018 10:00:00
News and Events

Are You a VAT Taxpayer Earning Php3-M or Less? You Have Until March 30 to Change Status

Otherwise, you're still covered by 12% VAT and lose the option to pay just 8% income tax on gross sales/receipts

Under the Tax Reform for Acceleration and Inclusion (TRAIN) Law that came into effect this year, the threshold for the value added tax (VAT) was raised to Php3 million from Php1.919 million.This presents a special opportunity for a class of taxpayers who ...

by Pauline Macaraeg  | March 20, 2018 10:00:00
News and Events

Little-Known TRAIN Law Provisions That Simplify Paying Taxes

A tax expert explains a number of items in the new tax law that make life easier for taxpayers

The Tax Reform for Acceleration and Inclusion (TRAIN) law, which took effect January 1 this year, has been widely praised for lowering the income taxes of the vast majority of salaried and self-employed taxpayers. In fact, more than 80 percent of taxpayers ...

by Pauline Macaraeg  | March 09, 2018 10:00:00
News and Events

Is Duterte’s TRAIN Law Veto Bad News For Foreign Investments in PH?

Officials and experts grapple with some of the tough questions at a forum on the new tax law

As euphoria over the relatively quick passage and approval of the Tax Reform for Acceleration and Inclusion (TRAIN) Law in December 2017 give way to the mundane business of complying with its numerous and complex provisions, key questions are emerging on the ...

by Entrepreneur Staff  | February 28, 2018 10:00:00
News and Events

PAL Seeks Reimposition of Fuel Surcharge Amid Rising Aviation Fuel Prices

Is this the end of extremely cheap airfares?

Philippine Airlines (PAL), the country’s flag carrier that recently earned a four-star designation from international aviation raters, has submitted a petition for the reimposition of a fuel surcharge in all of its routes amid rising aviation fuel prices.PAL President and Chief Operating ...

by Elyssa Christine Lopez  | February 15, 2018 09:00:00
News and Events

Are You One of the 943,967 Taxpayers Expected to Earn Higher Take Home Pay Under TRAIN Law?

The extra cash may help offset price increases because of higher taxes on goods and services

One of the biggest winners under the Tax Reform for Acceleration and Inclusion (TRAIN) Law which took effect Jan. 1, 2018 were employees earning Php250,000 and below a year because they no longer have to pay any income tax. They number some ...

by Elyssa Christine Lopez  | February 09, 2018 09:00:00
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