Tag: tax

Tax measure TRAIN to expand middle class, economically empower poor families—solon

February 10, 2017

January 27, 2017   The proposed Tax Reform for Acceleration and Inclusion (Train) law will dramatically reduce personal-income tax (PIT) for low-salaried wage earners and provide an additional P6,000 per year to some 7.5 million poorest families in the country and P3,000 to 5 million more. This represents the single largest direct wealth transfer estimated […]

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Categories: FEF / News

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Do it all together

January 12, 2017

LIKE IT IS by Peter Wallace (Philippine Daily Inquirer) January 12, 2017   I don’t understand the rationale behind amending taxes in two phases. The first phase addresses personal taxes and estate and donor taxes, and the second, corporate, property and other taxes (e.g., carbon tax, lottery and casino tax, etc.). Instituting changes in a […]

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Categories: Opinion / Peter Wallace

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The tax reform program: Social and economic implications

December 12, 2016

CROSSROADS (Toward Philippine Economic And Social Progress) By Gerardo P. Sicat  (Philippine Star) December 7, 2016   More elaboration is coming out from the Duterte government concerning the tax reform package now in Congress. In particular, I refer to Tax Reform Package 1. A more simple and efficient tax system. The proposals seek, first, a […]

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Categories: Gerardo Sicat / Opinion

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New tobacco tax being railroaded

December 12, 2016

DEMAND AND SUPPLY by Boo Chanco (Philippine Star) December 9, 2016   It takes a long time for bills to pass Congress except when there are enough incentives (wink wink) for our legislators to act quickly. A newly filed bill was passed on second reading last Wednesday in just two meetings in less than a week. Amazing! […]

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Categories: Boo Chanco / Opinion

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BIR relaxes property transfer requirements

November 3, 2016

November 2, 2016 MANILA, Philippines — Property transfers just got easier with the Bureau of Internal Revenue removing the need to present proof that taxes were paid for acquiring the land for the first time. Under Revenue Memorandum Circular 105-2016, submission of a copy of certificate authorizing registration (CAR) “shall no longer be required” on […]

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Taxes, inequality and the election

October 28, 2016

DEMAND AND SUPPLY by Boo Chanco (The Philippine Star) October 28, 2016   SAN FRANCISCO – Taxes, how much people pay and how much they should pay is a gut issue. In democracies, specially where economic inequalities are significant, taxes should be a hot topic during an election campaign. It has always been a divisive […]

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Categories: Boo Chanco / Opinion

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“Reduce personal income tax, broaden VAT and raise gas taxes”

October 28, 2016

CROSSROADS (Toward Philippine Economic and Social Progress) By Gerardo P. Sicat (Philippine Star) September 28, 2016   The main elements of Package I of the comprehensive tax reform program deals with personal income taxation, the value-added tax (VAT) and gasoline taxes. Taxation of personal income and of expenditures. The taxation of personal income can be […]

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Categories: Gerardo Sicat / Opinion

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Taxes up in smoke

October 28, 2016

LIKE IT IS by Peter Wallace (Philippine Daily Inquirer) October 13, 2016   Under the new format of the Inquirer we are restricted to about 700 words. So this is a much abbreviated version of what I wrote. The full version can be accessed at www.wallacebusinessforum.com. Finance Secretary Sonny Dominguez has come up with a […]

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Categories: Opinion / Peter Wallace

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‘A comprehensive tax reform to fund inclusive growth is in sight’

September 22, 2016

CROSSROADS (Toward Philippine Economic and Social Progress) By Gerardo P. Sicat (The Philippine Star) September 21, 2016   A major tax reform program to finance and sustain the country’s development program is due to be submitted for enactment by Congress this month. Secretary of Finance Sonny Dominguez has given hints of its content in previous […]

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Categories: Gerardo Sicat / Opinion

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Focus on taxing the rich

September 1, 2016

DEMAND AND SUPPLY by Boo Chanco (The Philippine Star) August 22, 2016   A trial balloon was set off last week to see what the public reaction will be if they removed the VAT exemption of senior citizens. My reaction is simple: you guys have to be kidding! I realize that we need new fund […]

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Categories: Boo Chanco / Opinion

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