MANILA, Philippines — The newly enacted tax reform law may raise inflation by 0.7 percentage points in the first year of its implementation, a level which is considered “minimal and manageable,” according to the Department of Finance (DOF). Finance Undersecretary Karl Kendrick Chua said the Tax Reform for Acceleration and Inclusion (TRAIN) Act—particularly the provision […]
Read MoreFinance Ministry’s Directorate General of Taxation introduced on Wednesday a tax data integration system that aims to improve taxpayer data transparency, with state-owned energy company Pertamina becoming the first participant of the system. Minister Sri Mulyani Indrawati said in Jakarta on Wednesday that with the system, all transactions would be quickly recorded and carried out […]
Read MoreSpeculation has been rife over the level of duties involved in the import and export of gold since the trade was liberalised last month, allowing gold to move freely in and out of the country via air, sea and border routes. Although the authorities have yet to make any announcements, industry insiders reckon a 15 percent […]
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