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Posts tagged with "TRAIN Law"

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...

PH posts fourth month of manufacturing decline in Dec

PH posts fourth month of manufacturing decline in Dec

Feb. 11 | Philippine manufacturing recorded a decrease in both volume and value in December 2017, said the National Economic and Development Authority (NEDA), adding that this marks the fourth month of decline in manufacturing from September to December 2017. Based...

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

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

Jan. 30 | While waiting for implementing rules and regulations (IRR) of the Tax Reform for Inclusion and Acceleration (TRAIN), commodities with increased excise tax under the new law should be assessed as goods under “provisional assessment”, Customs Commissioner...
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