Aug 4, 2010
The Philippines Bureau of Internal Revenue has publicized its intentions to raise the country’s tax ratio, through greater levels of efficiency in tax collection and stringent enforcement of compliance laws for taxpayers and Government staff . The Bureau of Internal Revenue (BIR) of the Philippines has stated that it hopes to raise the national tax [...]
The Philippines Bureau of Internal Revenue has publicized its intentions to raise the country's tax ratio, through greater levels of efficiency in tax collection and stringent enforcement of compliance laws for taxpayers and Government staff .
The Bureau of Internal Revenue (BIR) of the Philippines has stated that it hopes to raise the national tax ratio (tax collection as a percentage of national GDP) to 15 percent within two years, from the current level of 12.9 percent. The goal will require increased ... Read More
Jul 2, 2010
During his first day of Government office the Phillipine’s newly appointed Finance Secretary, Cesar V. Purisima, laid out a new focus for national fiscal policy, concentrating on fighting tax evasion and loopholes, while allowing the Government adequate fiscal freedom to provide public services. On July 1st Cesar V. Purisima made a public statement revealing his [...]
During his first day of Government office the Phillipine’s newly appointed Finance Secretary, Cesar V. Purisima, laid out a new focus for national fiscal policy, concentrating on fighting tax evasion and loopholes, while allowing the Government adequate fiscal freedom to provide public services.
On July 1st Cesar V. Purisima made a public statement revealing his intended direction and focus for the Government’s Finance Department. He explained that a key aspect necessary for an efficient tax system is the removal of tax loopholes ... Read More
May 19, 2010
Governments of emerging Asian economies have been warned to be ready for sudden increases in investment capital inflows, and prepare appropriate policy responses. On May 18th the Asian Development Bank (ADB) released its annual Asian Capital Markets Monitor report, which investigates the performance and outlooks for the equity, bond and currency markets in emerging economies. [...]
Governments of emerging Asian economies have been warned to be ready for sudden increases in investment capital inflows, and prepare appropriate policy responses.
On May 18th the Asian Development Bank (ADB) released its annual Asian Capital Markets Monitor report, which investigates the performance and outlooks for the equity, bond and currency markets in emerging economies. According to the report, several factors have cumulatively increased the risk of Asian economies facing sudden high levels of investment capitals, leading potential destabilization of currency and financial ... Read More
May 11, 2010
Corporate and personal income taxes in the Philippines should be lowered to 25 percent, and Value Added Tax (VAT) raised to 15 percent, according to the Department of Finance (DOF) of the Philippines. On May 10th the DOF issued a general statement to the next Government administration coming into power after the national elections, saying [...]
Corporate and personal income taxes in the Philippines should be lowered to 25 percent, and Value Added Tax (VAT) raised to 15 percent, according to the Department of Finance (DOF) of the Philippines.
On May 10th the DOF issued a general statement to the next Government administration coming into power after the national elections, saying that the current national tax balance should be changed. The DOF claimed that PHP 73.92 billion could be raised if the recommended changes are carried out by ... Read More
