The Philippine Tax Academy (PTA) is exploring a possible partnership with the Centre of Development Studies of the UK-based University of Cambridge and has partnered with the University of the Philippines-Los Baños (UPLB) to further raise the standards of its course offerings designed to hone the professionalism of the country’s revenue officers, the Department of Finance (DOF) said.
Read MoreAn International Monetary Fund (IMF) team described the Philippine economy as “performing well,” forecasting continued 6.7 percent real GDP growth and below-4 percent inflation in 2019 while citing the country’s “prudent policies and critical reforms.”
Read MoreThe government gave away about P301 billion in revenues in 2015 alone as a result of tax incentives and other perks granted to only 2,844 firms, according to the Department of Finance (DOF).
Read MoreFinance Secretary Carlos Dominguez III has underscored the broad impact of a recent Supreme Court ruling which increased the coverage of the Internal Revenue Allotment (IRA) due local government units (LGUs) to include all national taxes, which even Fitch Ratings and Moody’s Investor Service have flagged as a possible challenge to the Philippines’ public finance management program.
Read MoreA group of eminent economists has called on the Congress to take “urgent action” in passing into law the Duterte administration’s proposed reforms in the corporate tax system to help fulfill its goal of making Philippine taxation “simpler, fairer and more efficient” and ensure that incentives given to businesses truly benefit the Filipino people.
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