New CMEPA Law Ends Tax Breaks on Long-term Savings, Imposes 20% Flat Rate
Banks are now imposing a uniform 20% tax on all interest income from deposits, ending exemptions on long-term savings under the new CMEPA law.
Recto: Finance Department Withdraws GROWTH Bill
Finance Secretary Recto withdrew the GROWTH Bill proposal to increase taxes, citing stronger-than-expected tax collections in the first quarter of 2025.
BIR Eyes to Collect Taxes from ‘Big Time’ Influencers, Online Sellers
Sign up with your email and never miss another crypto and NFT stories from the Philippines and beyond! The Bureau of Internal Revenue (BIR) is determined to collect taxes from “big time” social media influencers, online sellers, and online businesses, Commissioner Lilia C. Guillermo announced during the SGV Tax Symposium last August 19, 2022. “We…
Key Takeaways: House Bill 7425 on Taxing Digital Services in the Philippines
What is included in the new House Bill No. 7425 that seeks to tax the online services Filipinos use?