By: Recovering accumulated excess input value-added tax (VAT) has always put our VAT-registered taxpayers in a quandary on what is the best means to get back the excess tax payment when it amounts to hundreds of millions of pesos.
[DatePublished] => 2013-08-06 00:00:00
[ColumnID] => 136078
[Focus] => 0
[AuthorID] => 1683355
[AuthorName] => Rey Taduran Llesol
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 810659
[Title] => At A Glance
[Summary] =>
The productivity of New Zealand workers fell by 0.1 percent in the year ending March 2011, mainly because of a rise in productivity input, the government statistics agency announced Thursday.
Underdeclaration of sales and abuses in the tax credit mechanism of the value added tax (VAT) system continues to translate in revenue losses of hundreds of billions a year for the government, the Congressional Policy and Budget Research Department of the House of Representatives (CPBRD) said in its latest report.
[DatePublished] => 2011-09-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804708
[AuthorName] => Iris Gonzales
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 691022
[Title] => Anatomy of school trolley bag
[Summary] =>
It’s back to school for the youngsters in just a few weeks. To buy or not to buy a (new) trolley bag? that is the question.
Circumstances may dictate what you’d end up wearing and how you wear them but that doesn’t mean you can’t go beyond that. When it comes to style, a little creativity and spunk will go a long way.
[DatePublished] => 2011-05-05 10:14:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1315377
[AuthorName] => Featured Blogger Sasha Manuel
[SectionName] => Unblogged
[SectionUrl] => unblogged
[URL] =>
)
[6] => Array
(
[ArticleID] => 367644
[Title] => Palace: GMA ready to sign amended VAT law
[Summary] =>
President Arroyo is ready to sign into law the bill removing the cap on the amount of input value-added tax that can be credited against the output VAT by industries, Malacañang said yesterday.
Presidential Political Adviser Gabriel Claudio said the Office of the President had received the enrolled copy of the bill and a formal signing ceremony would be set soon.
Aside from the VAT measure, Mrs. Arroyo will also sign the bill creating the rank of first chief master sergeant in the Armed Forces of the Philippines.
[DatePublished] => 2006-11-08 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804901
[AuthorName] => Aurea Calica
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[7] => Array
(
[ArticleID] => 361951
[Title] => Villar assures speedy repeal of 70% input VAT
[Summary] => Senate President Manuel Villar has assured the business community that senators will expedite the passage of a Malacañang-certified bill that seeks to repeal the 70-percent cap on the creditable input value-added tax (VAT).
The assurance came after business leaders and captains of industries paid a courtesy call on Villar, Sen. Juan Ponce Enrile, and Sen. Ralph Recto, chairman of the Senate committee on ways and means, at the Senate last Wednesday.
[DatePublished] => 2006-10-08 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 332001
[Title] => CAMPI backs removal of 70% cap on input VAT
[Summary] => The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) fully supports the working group of the Philippine Development Forum (PDF) which is working for the removal of the 70 percent cap on input value-added tax (VAT).
In a recent Philippine Development Forum, an annual dialogue between the government and official donors, one of the key recommendations of the Forum’s working group on economic and fiscal reforms is the removal of the cap on input VAT.
[DatePublished] => 2006-04-18 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097285
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 302606
[Title] => Expert asks government to take second look at EVAT
[Summary] =>
The country’s leading expert on the value-added tax system asked the government yesterday to take a second look at the expanded value-added tax (EVAT) law before implementing it.
Lawyer Victorino Mamalateo, professor at the UP College of Law and former Bureau of Internal Revenue (BIR) assistant commissioner, said he noted some imperfections in the law which "would only serve to undermine the growth of the Philippine economy, discourage new investments in small and medium scale enterprises, and promote inequity in the system."
[DatePublished] => 2005-10-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
Prepare for hotter days and nights ahead, surpassing the already scorching heat as temperatures could reach over 40 degrees Celsius in the coming weeks.
The temperature reached 40 degrees Celsius in Isabela on Monday, the hottest in the country so far this year, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration.
At least 13 areas in the Philippines could experience a “danger” heat index of 44 degrees Celsius today amid the continued effects of El Niño and the dry season, according to the state weather bureau.
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