Tag: BIR

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Alliance targets P141B revenue drain from illegal trade

Economy Context.ph Context.ph -
A broad alliance of government agencies and industry groups is stepping up efforts to curb illicit trade, targeting an estimated P141 billion in lost revenues over the past two years through a coordinated enforcement and revenue-protection strategy.

BIR collections surge in May on extended filing

Banking & Insurance Context.ph Context.ph -
The Bureau of Internal Revenue (BIR) posted stronger-than-expected revenue collections in May, buoyed by the extended tax filing season and continued taxpayer compliance despite disruptions caused by the recent energy crisis.

BIR unveils portal to simplify corporate taxes

Economy Context.ph Context.ph -
The government is stepping up its digital reform drive to make tax compliance faster, simpler, and less burdensome for the country’s biggest taxpayers, with the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) launching a centralized Taxpayer Portal for firms under the Large Taxpayers Service (LTS).

 PCCI hails new BIR rules, relief for MSMEs

Economy Context.ph Context.ph -
 The Philippine Chamber of Commerce and Industry (PCCI) has welcomed the Bureau of Internal Revenue’s (BIR) new streamlined business closure rules, calling them a...

Travel agencies urge clearer BIR tax rules

Travel & Tourism Context.ph Context.ph -
A leading Philippine travel association is pressing the government to clarify tax rules for agency transactions, warning that inconsistent interpretations by Revenue District Offices (RDOs) are driving up compliance costs and sparking audit disputes.
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Moody’s projects inflation to return to target range by 2027-2028 as BSP earns high marks

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The Bangko Sentral ng Pilipinas (BSP) has earned fresh praise from sovereign credit giant Moody’s Ratings, which expects local inflation to steadily settle back within the government's two to four percent target range between 2027 and 2028.

Court orders arrest of VP Duterte

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A Quezon City Regional Trial Court has issued an arrest warrant for Vice President Sara Duterte over three counts of grave threats against President Ferdinand Marcos Jr., First Lady Lisa Marcos, and former House Speaker Martin Romualdez, the Department of Justice said Friday. The DOJ said the warrant means the court found probable cause against Duterte. Bail was set at P120,000 for each count. Duterte earlier asked the court to defer or recall the warrant. The case stemmed from public threats the VP issued against the 3. The grave threat is also among the charges in the impeachment complaint versus the Vpz

Mynt secures SEC approval for P92.32-billion IPO, first to benefit from eased public float rules

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The Securities and Exchange Commission (SEC) has given the green light to Mynt Inc., operator of leading digital payments platform GCash, for its initial public offering (IPO) valued at up to P92.32 billion.

Cool-down in August inflation offers brief respite, not policy pivot – analyst 

Banking & Insurance 0
The slight cooling of headline inflation to 6.1 percent in August from 6.2 percent in July provides a welcome breathing room, but it remains far from a signal for the central bank to ease its stance. Lower meat and vegetable prices helped pull down overall food inflation, though the decline was largely muted by accelerating rice costs and expensive transport amid persistent global oil strength. According to Bank of the Philippine Islands (BPI) lead economist Emilio S. Neri, Jr., this temporary easing is unlikely to alter the trajectory of monetary policy. He says that the Bangko Sentral ng Pilipinas (BSP) will likely stay on a tightening path, potentially raising the policy rate by 25 basis points in each of its final two meetings this year to hit 5.50 percent.

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