MANILA, Philippines — During his first state of the nation address, President Rodrigo Duterte promised a “simpler” and “fairer” tax reform program, and he delivered after he signed a new law that overhauls the country’s 20-year-old tax regime. On Tuesday, December 19, Duterte signed into law Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion […]
Read MoreInflation in Cambodia last year reached 2.9 percent due to a moderate increase in the price of key commodities, particularly petroleum and agricultural goods, with the National Bank of Cambodia (NBC) saying the low inflation rate was a product of sound macroeconomic management. According to NBC’s annual report, the price of the basket of goods […]
Read MoreMANILA, Philippines —The first package of its tax reform measures will not lead to increases in prices of basic commodities, according to Trade Secretary Ramon Lopez, as the government tries to calm the public over worries that the new law will result in spike in household expenses. President Rodrigo Duterte signed the tax reform measure […]
Read MoreFiscal incentives have led to the Philippines recording the lowest collection efficiency in the region with regard to corporate income taxes, the Finance department claimed on Tuesday. In a statement, the department noted that the country — which imposes the highest corporate income tax rate in the Association of Southeast Asian Nations at 30 percent […]
Read MoreMANILA, Philippines — The national government’s revenue is projected to reach P2.806 trillion this year due to additional collections to be generated from the final tax reform law, data from the Department of Finance (DOF) showed. According to DOF estimates, the government’s revenue program for this year may be slightly adjusted upward to P2.806 trillion […]
Read MoreMANILA, Philippines — The government’s efficiency in collecting corporate income taxes is suffering due to the grant of fiscal incentives and perks to various industries, according to a high ranking official of the Department of Finance (DOF). In a statement, Finance Undersecretary Karl Kendrick Chua said the Philippines, despite having one of the highest corporate […]
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