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BIR hopes TRAIN law will encourage more small businesses to pay proper taxes

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

MANILA, Philippines – The Bureau of Internal Revenue (BIR) admits having difficulty in determining if small and medium enterprises are paying proper taxes.

According to the BIR, they can ensure that employees are paying proper taxes as it can be done automatically, unlike those who are self-employed or those with businesses.

“But the self-employed pay voluntarily, we relied on voluntary filing and payment,” BIR Asst. Commissioner Atty. Marissa Cabreros said.

However, with the implementation of the tax reform law, the BIR is confident that many self-employed will pay their taxes.

Based on the TRAIN law, small medium enterprise owner and the self-employed have the liberty to choose the manner in which they pay their taxes.

Under the tax reform, all self-employed and businesses earning below P300-million yearly should pay an 8 % tax, or through a graduated income tax rate.

“Your gross receipts is 8%, it’s easier. You should file. You will not worry if you will collect it and keep your gross receipts. Another option is the gross receipts you collect, and it has deduction,” Cabreros said

The BIR said the process has been easier under the TRAIN law that’s why they are expecting more tax payments.

For Maricar Cruz, who owns a laundry shop, she is happy with the tax reform the government implements. She vows to always pay her taxes on time.

“The 8% tax is okay. I hope it could help for the progress of the country,” Cruz said.

However, Laban Konsyumer President Vic Dimagiba said although the process has been simplified, small medium enterprises cannot hugely benefit from the tax reform law.

“They should pay VAT that’s for sure. They can no longer benefit. They have additional payments. They will pass on to their customers all the increases in fuel and electricity and other hikes,” Dimagiba said.

The BIR said everyone might feel burdened because of the tax reform, but notes that many will benefit in the long run.

The agency said additional taxes collected from the tax reform will be allocated to the projects of the government that will further improve the Philippine economy. – Mon Jocson | 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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Sereno has P2-M tax deficiency — BIR

by UNTV   |   Posted on Wednesday, February 28th, 2018

Supreme Court Chief Justice Maria Lourdes Sereno

FILE PHOTO: Supreme Court Chief Justice Maria Lourdes Sereno (UNTV News)

MANILA, Philippines — It was the last hearing of the committee on the impeachment raps filed against Supreme Court Chief Justice Maria Lourdes Sereno.

After the hearing, the committee members will vote on the approval of the complaint before sending it to the plenary.

The revenue bureau said the chief magistrate has failed to pay P2-million worth of taxes from the years 2005 to 2009.

Bureau of Internal Revenue (BIR) Deputy Commissioner Arnel Guballa said that the P2-million tax discrepancy is based on their computations on the income of CJ Sereno when she was still a lawyer before entering government service.

The agency claims that the tax discrepancy is aside from the six other violations committed by the chief justice.

BIR belied that the chief justice earned only P30-million from the Piatco case she handled. It said that Sereno earned P32-million.

Meanwhile, the doctors who conducted the examinations on her asked for an executive session when the issue that CJ Sereno failed in a psychiatric and psychological test came up.

Following the committee’s conclusion of deliberations on probable cause in the impeachment complaint, the lawmakers will prepare the committee report that they will vote on in their next deliberation.

Once it gets a majority vote from the members of the committee, it will then be submitted to the plenary.

The complaint needs one-third or 99 votes to impeach Chief Justice Sereno in the Lower House.

In the plenary, the lawmakers will elect the members of a prosecution team that will be led by impeachment committee chairman, Reynaldo Umali.

They will then write the articles of impeachment that they will submit to the senate impeachment court for the conduct of a formal trial.  — Grace Casin | UNTV News & Rescue


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