Home » Posts tagged with "TRAIN Law"

Posts tagged with "TRAIN Law"

P677B revenue collection goal for 2019 doable, says BOC chief

P677B revenue collection goal for 2019 doable, says BOC chief

Jan. 15 | 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 PortCalls, Guerrero said meeting this year’s goal, 15.8% higher than last year’s P584.881...

BOC implements TRAIN Law’s second tranche

BOC implements TRAIN Law’s second tranche

Jan. 14 | New rates for several commodities including fuel, tobacco and alcoholic beverages covered under the second tranche of the Tax Reform for Acceleration and Inclusion (TRAIN) Law and Sin Tax Reform Law, are now being implemented under the Bureau of Customs...

Additional fuel excise tax may be implemented in 2019 after all

Additional fuel excise tax may be implemented in 2019 after all

Nov. 30 | The Development Budget Coordinating Committee (DBCC) has retracted its recommendation to suspend the second increase in excise tax on fuel under the Tax Reform for Inclusion and Acceleration (TRAIN) law in light of the favorable outlook in the price of...

PH fuel marking system for implementation in 2019

PH fuel marking system for implementation in 2019

Nov. 26 | The Philippine government will finally implement next year its fuel marking system to curb oil smuggling and plug revenue losses from illegal importation and misdeclaration of fuel. The Bureau of Customs and Bureau of Internal Revenue have recently created...

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

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

Nov. 20 | Image courtesy of Stuart Miles at FreeDigitalPhotos.net The Bureau of Customs (BOC) is now charging a higher documentary stamp tax rate of P30 from P15 as prescribed under the Tax Reform for Inclusion and Acceleration (TRAIN) Law. The increased rate has...

LBC net income surges 170% in first semester

LBC net income surges 170% in first semester

Aug. 23 | 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 earned in the same period last year. In a disclosure to the Philippine Stock Exchange, LBC said the positive performance...

PH fuel marking system to kick off in Q4

PH fuel marking system to kick off in Q4

Jul. 14 | The Bureau of Customs’ (BOC) fuel marking system is expected to start by the last quarter of this year, following bidding for establishment of the system, according to Customs Commissioner Isidro Lapeña in a press briefing on July 11. The Procurement...

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

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

Jun. 4 | 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 due to the rising price of oil and the weaker peso. Low-cost carrier Cebu Pacific and sister...

CAB doc stamp tax now costs twice as much

CAB doc stamp tax now costs twice as much

May. 20 | The Civil Aeronautics Board (CAB) has increased the rate of documentary stamp tax for the certificates it issues with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law. CAB officer-in-charge Porvenir Porciuncula, in an advisory...

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

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

Mar. 21 | Mondelez International South East Asia Logistics Cluster lead Chris John Garcia (left) turned over on March 20 a check in the amount of P542 million to Bureau of Customs-Manila International Container Port district collector Balmyrson Valdez. The...
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