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[Title] => Thrift banks press exemption from GRT, VAT on FCDU accts
[Summary] => The Chamber of Thrift Banks (CTB) stressed yesterday that FCDU (foreign currency deposit units) transactions are exempted from the gross receipts tax (GRT) and the value-added tax (VAT).
"In fact, the President signed into law Republic Act (RA) 9294 which made it clear the tax exemptions of FCDUs and OBUs (overseas banking units) during the drafting of the Comprehensive Tax Reform Act of 1997," CTB president Tomas V. Clemente Jr. said in a letter to Bureau of Internal Revenue (BIR) commissioner Guillermo L. Parayno Jr.
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GUILLERMO L
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[Summary] => The Chamber of Thrift Banks (CTB) stressed yesterday that FCDU (foreign currency deposit units) transactions are exempted from the gross receipts tax (GRT) and the value-added tax (VAT).
"In fact, the President signed into law Republic Act (RA) 9294 which made it clear the tax exemptions of FCDUs and OBUs (overseas banking units) during the drafting of the Comprehensive Tax Reform Act of 1997," CTB president Tomas V. Clemente Jr. said in a letter to Bureau of Internal Revenue (BIR) commissioner Guillermo L. Parayno Jr.
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abtest
June 16, 2011 - 12:00am
By Ted P. Torres | June 23, 2004 - 12:00am
Recommended
The House prosecution panel has rejected Vice President Sara Duterte’s claim that the impeachment proceedings had been marred by “bending the law,” saying there’s no reason to halt the Senate trial.
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Vice President Sara Duterte criticized Palace press officer Claire Castro anew, saying she should be professional as she represents President Marcos and the Office of the President.
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The Department of National Defense (DND) follows only “objective criteria and no other standard” in appraising reputation of citizens, Secretary Gilbert Teodoro said as he shrugged off Vice President Sara Duterte’s dare that he name pro-China officials.
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Sen. Panfilo Lacson yesterday called for immediate accountability over dozens of allegedly illegal reclamation projects in the Taguig portion of Laguna de Bay, accusing Senate Minority Leader Alan Peter Cayetano of harassing state regulators to protect the anomalous multimillion-peso contracts.
4 hours ago
Vice President Sara Duterte challenged Defense Secretary Gilbert Teodoro to identify the government officials defending China on the West Philippine Sea issue, saying even President Marcos might be suspected to be among those being alluded to.
1 day ago
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