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BIR: Employers must comply with new tax exemption rules under TRAIN Law

by UNTV News   |   Posted on Friday, January 12th, 2018

MANILA, Philippines – Taxpayers trooped to the public consultation of the Bureau of Internal Revenue (BIR) to answer queries regarding the new tax exemption rules under the Tax Reform for Acceleration and Inclusion or TRAIN Law.

One of the main issues asked is whether a minimum wage earner is still exempted from paying income tax if his annual income exceeds P250,000 due to overtime pay and other incentives.

“There are specific words and other words retained from the old tax code that says a minimum wage earner is exempt from income taxes. So if you’re under minimum wage category, you will be exempted including holiday pay regardless if your total income for the whole year exceeds 250,000” BIR Spokesperson Atty. Marissa Cabreros said.

The BIR stresses that the tax reform law has already taken effect since January 1, so workers earning 21,000 and lower should not have any deductions pertaining to any taxes.

“Our withholding agents have an obligation to ensure that their withholdings are correct. Some employers say there’s no revenue regulation yet. But there’s no need to wait for the revenue regulation because we’ve already released an issuance,” Cabreros said.

The BIR encourages employees to directly report to them any employer who fails to comply with the new tax exemption rule.

“If they exceeded withholding this January in the first salary, they should self-correct to adjust and give back the excess in the next payouts,” Cabreros added. – Mai Bermudez | UNTV News & Rescue

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BIR files tax evasion case vs Rappler

by UNTV News   |   Posted on Thursday, March 8th, 2018

FILE IMAGE: Rappler’s Maria Ressa

MANILA, Philippines — The Bureau of Internal Revenue (BIR) has filed a tax evasion complaint against the online news site Rappler.

The BIR said Rappler failed to pay taxes worth P133-million in 2015 including income and value added tax.

The agency is running after the Rappler’s president and CEO, Maria Ressa and its treasurer, James Bitanga.

Also included in the complaint is certified public accountant Noel Baladiang for signing and certifying the financial statements of Rappler even when, according to BIR, the online news site clearly failed to declare its real income.

Meanwhile, Malacañang described the million-peso tax evasion case against Rappler Holdings Corporation as a mere law enforcement.

“It’s just implementation of the law. If there is really tax evasion, violators should be held liable. If I were the one who received the 1.5 million dollars, I should have paid taxes,” said Presidential Spokesperson Harry Roque. — UNTV News & Rescue

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P200 cash grant enough to mitigate TRAIN Law effects

by UNTV   |   Posted on Wednesday, March 7th, 2018

A DSWD official explains the Unconditional Cash Transfer Program

MANILA, Philippines — The government has allocated more than P24-billion for assistance to about 10 million households that will be affected by the price increase of primary goods due to the implementation of Tax Reform for Acceleration and Inclusion (TRAIN) Law this year.

Four point three billion pesos of the total budget has already been released by the Department of Budget and Management (DBM) for the 1.8 million families who are current beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps).

Each beneficiary will receive the P200 subsidy per month.

According to DBM Secretary Benjamin Diokno, the said subsidy is enough to support the poor families who may be affected by the increase of primary goods because of the implementation of the tax reform law.

The cash grants subsidy will be implemented for three years.

At the year 2019 and 2020, the unconditional cash grant will increase to P300.

According to DSWD, the cash grant will be distributed in a lump sum.

The agency targets to complete the distribution of cash grants in the first quarter of the year. — Nel Maribojoc | UNTV News & Rescue



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DSWD distributes P24-B cash grants to 10-M Filipinos affected by TRAIN Law

by UNTV   |   Posted on Wednesday, March 7th, 2018


Ten million indigents will benefit under government’s unconditional cash transfer program (UCT).

MANILA, Philippines — The Department of Social Welfare and Development (DSWD) begins the distribution of P24-billion worth of financial aid to 10 million indigent Filipino beneficiaries of the unconditional cash transfer program (UCT).

The UCT is a program mandated by the Tax Reform for Acceleration and Inclusion (TRAIN) Law as aid to individuals who might be affected by its implementation.

The law states that 10 million individuals will benefit from the said program.

Four point four (4.4) million of them are members of the Pantawid Pamilyang  Pilipino Program  (4Ps).

Three million are elderly and indigent beneficiaries of the social pension program while 2.6 million are on the list of the DSWD who will still have to undergo validation.

“Inaasahan kasi natin na bagamat hindi Dapat na ganun kalaki ang impact ng TRAIN sa inflation gusto nating matulungan ang mamamayan na magtaas man ang presyo meron silang huhigutin,” said DSWD officer-in-charge Emmanuel Leyco.

(Although the impact of TRAIN law on the inflation is not that huge, we still want to help the public so that even when prices of products may rise, they will have the money for it.)

Leyco said that the program will take effect for three years.

Beneficiaries will receive P200 monthly, or a total of P2,400 this year.

The monetary assistance will increase to P300 monthly, or P3,600 in 2019 and 2020.

“Kaya po ang napagkayarian namin dito sa DSWD ay ibigay ng buo na P2,400 kesa P200 a month,” said the official.

(What we have decided to do here in DSWD is to give the entire P2,400 instead of P200 pesos a month.)

Among the first beneficiaries who withdrew the monetary assistance was Jinky dela Peña, a beneficiary under the Pantawid Pamilyang Pilipino Program.

“Kung tutuusin kulang po. Meron kami cash grant so parang dagdag na lang po,” said Jinky.

(This is actually not enough. We have a cash grant, so this is just an additional.)

Another beneficiary, Ricky Lopez , is thankful for the cash grant which is a huge help in sending his child to school.

“Nagpapasalmat ako sa ngayon dahil nadagdagan yung binibigay sa amin,” said Ricky Lopez, a UCT beneficiary.

(I’m thankful because the amount I am receiving has increased.)  — Maris Federes | UNTV News & Rescue

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