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The TRAIN Act is the first of four packages of tax reforms to the National Internal Revenue Code of 1997, or the Tax Code, as amended. [3] This package introduced changes in personal income tax (PIT), [ 4 ] estate tax, donor's tax, value added tax (VAT), documentary stamp tax (DST) and the excise tax of tobacco products, petroleum products ...
R. A. No. Title / Description Date signed Ref. 10923 An Act postponing the October 2016 Barangay and Sangguniang Kabataan Elections, Amending for the Purpose Republic Act No. 9164, as amended by Republic Act No. 9340 and Republic Act No. 10656, Prescribing Additional Rules Governing the Conduct of Barangay and Sangguniang Kabataan Elections and for Other Purposes
Revoking the policy of granting career executive service rank to graduates of the National Defense College of the Philippines: July 2, 2024 [63] 64 Updating the salary schedule for civilian government personnel and authorizing the grant of an additional allowance, and for other purposes August 2, 2024 [64] 65
March 11 – President Marcos signs into law Republic Act No. 11984 or the No Permit, No Exam Prohibition Act, allowing students with unpaid school fees to take examinations, [54] [55] and Republic Act No. 11983 or the New Philippine Passport Act, which allows for online Philippine passport applications. [56]
The Department of Finance (DOF; Filipino: Kagawaran ng Pananalapi) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public ...
Nearly 5 million taxpayers who have unpaid tax bills from 2020 and 2021 will have almost $1 billion in penalty fees waived by the Internal Revenue Service (IRS).
Social Security tax: Both you and your employer contribute 6.2 percent of your wages up to a capped amount called the taxable maximum ($168,600 in 2024). This cap means that high-income earners ...
This was undertaken through the implementation of change initiatives that were directed to: 1) reform the tax system to make it simpler and suit the Philippine culture; 2) reengineer the tax processes to make them simpler, more efficient and transparent; 3) restructure the BIR to give it financial and administrative flexibility; and 4) redesign ...