Philippines : Urge for tax exemptions by the foreign airlines

26 October, 2011

Foreign airlines are forcing the Philippines’ Department of Finance to reduce the 2.5% Gross Philippine Billings Tax (GPBT) and the 3% Common Carrier’s Tax (CCT) to which they are subjected. The GPBT and CCT are levied on all revenues,

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DTA between India and Philippines is under revision

18 October, 2011

There are on-going negotiations for a revision of the existing double taxation agreement (DTA) between India and the Philippines. The Finance Minister of India raised the issue, during his recent bilateral meeting with Philippines’ Finance

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Propensity to increase tax revenue: Philippines parliament

27 July, 2011

Instead of enacting new laws, the Speaker of the Philippines House of Representatives, Feliciano Belmonte, urged to prioritize measures that would plug loopholes in the country’s tax system and rationalize the tax incentives law. Bills that would

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Insurance and VAT exemptions are modified in Philippines

14 July, 2011

The Philippines Bureau of Internal Revenue (BIR) issued clarifications regarding the income tax deductibility of insurance contributions, and to the applicability of value-added tax (VAT) following takeovers and mergers. According to that, only the

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