The Philippines is set to conduct in depth investigations and put extra pressure on its highest earning professionals, who are said to be evading their tax obligations and contributing a disproportionately small amount of the country's tax collections. During an event held in Manila on August 1st to mark the 107th anniversary of the Bureau of Internal Revenue (BIR) of the Philippines, the Finance Secretary Cesar Purisima announced that the country’s tax authorities will be clamping down on highly paid professionals and ... Read More

The Treasury Department of Puerto Rico intends to instate a nationwide lottery system in the hopes of boosting tax revenues and attempting to reduce the severity of the country’s underground economy. Last week during a press interview in his office, the Governor of Peurto Rico Luis Fortuño revealed that a new sceme will be put into place by the Puerto Rioco Treasury Department, whereby every sales invoice issued throughout the country will be eligible for a prize draw of up to USD 1000. The ... Read More