Trading company padlocked for underdeclaration of taxable sales

NOVALICHES, Quezon City - The Bureau of Internal Revenue (BIR) today padlocked a registered trading corporation and its four (4) branches located in Quezon City and Caloocan City for violating…

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PDIC to bid out properties worth P39.1 M on November 25

The Philippine Deposit Insurance Corporation (PDIC) is set to sell via public bidding on an “as-is, where-is” basis on November 25, 2013 a total of 177 real properties with a…

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Tax Watch: DOF Uses Statistics to Reveal Tax Anomalies

Finance Chief: Tax Evaders "Cannot Hide" From Henares Broadening the tax base has always been a goal of Secretary of Finance Cesar V. Purisima. The finance chief however stressed the…

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P163.3 billion deficit for Public Sector in 2012

The Secretary of Finance today announced that in 2012 the overall deficit of the public sector was P163.3 billion, equivalent to 1.5% of GDP. This amount is P11.8 billion lower…

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BIR responds to complaints on new OR regulations

The full implementation of Revenue Regulation No. 18-2012 requiring the issuance and used of new sets of receipts on July 1, 2013 shall proceed as scheduled. Commissioner of Internal Revenue…

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Finance Formalizes Cluster Management to Spur Reform

Intent on streamlining and improving processes at the Finance department, Secretary Cesar Purisima recently issued an order to form management clusters in the Department of Finance to strictly enforce the…

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