Archive for September, 2008
Friday, September 5th, 2008
MANILA, Philippines -- The government stands to lose P26.5 billion in potential revenue next year following the enactment of the Personal Equity and Retirement Act (Pera) and the decision to exempt minimum wage earners from income tax.
Based on the Department of Finance estimates, Pera is expected to cost the government ...
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Thursday, September 4th, 2008
What a difference a month makes!
All of a sudden last month, ruling on the tax on a real estate deal between two related companies, the Bureau of Internal Revenue (BIR) changed its mind—just like that.
The firms were Philippine Racing Club Inc. (PRCI) and its wholly owned subsidiary, JTH Davies Holdings ...
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Tuesday, September 2nd, 2008
With the proposed 2009 budget of P1.415 trillion set for review in Congress, people are wondering where or how on earth government will source out the funds for such a staggering amount. The bulk of the proposed budget, which is 15 percent higher than the 2008 budget of P1.227 trillion, ...
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