Tax revenue up 10% but 4% short of P2-trillion BIR target

Credit to Author: besguerra| Date: Tue, 29 Jan 2019 23:24:23 +0000

The taxman did not meet his collection target in 2018 despite the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, a revenue measure consumers blamed for rising prices of basic goods and services.

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Drugstores told: Give VAT exemptions

Credit to Author: clopez| Date: Wed, 16 Jan 2019 21:30:08 +0000

Some pharmacies are not complying with the law requiring all drugstores starting Jan. 1 to exempt from the 12-percent value-added tax (VAT) the sale of medicines for diabetes, hypertension and high cholesterol to people aged below 60 years old.

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More than 100 maintenance meds now VAT-free

Credit to Author: besguerra| Date: Mon, 14 Jan 2019 21:04:04 +0000

More than 100 medicines for diabetes, high cholesterol and hypertension have become cheaper, thanks to the exemption from the 12-percent value-added tax (VAT) these now enjoy under the Tax Reform for Acceleration and Inclusion (TRAIN) Act, the Department of Finance (DOF) said on Sunday.

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2 senators open to amend TRAIN to remove fuel tax

Credit to Author: besguerra| Date: Sun, 06 Jan 2019 23:22:50 +0000

Sen. Aquilino Pimentel III on Saturday said the Tax Reform for Acceleration and Inclusion (TRAIN) Act could be amended to slowly remove the increase in the excise on oil products.

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Merry Christmas, Pilipinas!

Credit to Author: clopez| Date: Mon, 24 Dec 2018 21:20:18 +0000

Today is a time for peace, joy, happiness, hope, prosperity and sharing. Let us reflect on the birth of our Lord together with our family and loved ones.

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Senate to tackle fuel tax freeze as anti-inflation measure

The Senate will conduct an inquiry into the suspension of the excise on fuel under the Tax Reform for Acceleration and Inclusion (TRAIN) Act as an anti-inflation measure, according to Sen. Sherwin Gatchalian.

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Solons call on Duterte to fire ‘incapable’ economic chiefs

President Rodrigo Duterte should let the axe fall on his economic managers for their failure to curb the unremitting spike in inflation rate, which hit a nine-year high of 6.4 percent last month, according to House Minority Leader, Quezon Rep. Danilo Suarez.

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