Browsing Tag

TRAIN Law

14 posts

P677B revenue collection goal for 2019 doable, says BOC chief

Customs Commissioner Rey Leonardo Guerrero is confident of meeting the Bureau of Customs’ (BOC) P677-billion 2019 revenue collection target. In a text message to…
  • January 15, 2019
  • 2 minute read

BOC implements TRAIN Law’s second tranche

New rates for several commodities including fuel, tobacco and alcoholic beverages covered under the second tranche of the Tax Reform for Acceleration and Inclusion…
  • January 14, 2019
  • 2 minute read

Additional fuel excise tax may be implemented in 2019 after all

The Development Budget Coordinating Committee (DBCC) has retracted its recommendation to suspend the second increase in excise tax on fuel under the Tax Reform…
  • November 30, 2018
  • 2 minute read

PH fuel marking system for implementation in 2019

The Philippine government will finally implement next year its fuel marking system to curb oil smuggling and plug revenue losses from illegal importation and…
  • November 26, 2018
  • 2 minute read

BOC doc stamp tax now costs double in keeping with TRAIN Law

The Bureau of Customs (BOC) is now charging a higher documentary stamp tax rate of P30 from P15 as prescribed under the Tax Reform…
  • November 20, 2018
  • 1 minute read

LBC net income surges 170% in first semester

LBC Express Holdings, Inc. posted a net income of P1.196 billion in the first six months of 2018, a 170% jump from P442.702 million…
  • August 23, 2018
  • 2 minute read

PH fuel marking system to kick off in Q4

The Bureau of Customs’ (BOC) fuel marking system is expected to start by the last quarter of this year, following bidding for establishment of…
  • July 14, 2018
  • 2 minute read

With high fuel costs, PH airlines seek reimposition of fuel surcharge

Philippine airlines are requesting to be allowed to re-impose fuel surcharges for passenger and cargo operations to offset fuel costs that have been increasing…
  • June 4, 2018
  • 2 minute read

CAB doc stamp tax now costs twice as much

The Civil Aeronautics Board (CAB) has increased the rate of documentary stamp tax for the certificates it issues with the implementation of the Tax…
  • May 20, 2018
  • 1 minute read

BOC-MICP urges importers to voluntarily pay higher excise tax rates

  The Bureau of Customs (BOC)-Manila International Container Port (MICP) is encouraging importers, especially multinational companies, to voluntarily pay the higher excise tax on…
  • March 21, 2018
  • 2 minute read

PH posts fourth month of manufacturing decline in Dec

Philippine manufacturing recorded a decrease in both volume and value in December 2017, said the National Economic and Development Authority (NEDA), adding that this…
  • February 11, 2018
  • 3 minute read

BOC order stipulates how to assess goods newly subject to higher excise tax

While waiting for implementing rules and regulations (IRR) of the Tax Reform for Inclusion and Acceleration (TRAIN), commodities with increased excise tax under the…
  • January 30, 2018
  • 3 minute read

Higher shipping rates seen as PH carriers impose recovery charge

Most members of the Philippine Liner Shipping Association (PLSA) will impose a recovery charge following imposition of the excise tax on fuel under the…
  • January 16, 2018
  • 3 minute read

Under TRAIN Law, documentary stamp tax on B/L up 100%

Stamp tax on several documentations, which include bills of lading and certificates, has doubled under the Philippines’ new Tax Reform for Acceleration and Inclusion…
  • January 12, 2018
  • 4 minute read