Territorial tax system

TThe imposition of a 12% value added tax (VAT) on local purchases by PEZA registered businesses continues to generate debate and concern. The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 9-2021 stating that certain sales that were previously considered zero-rated for VAT are now subject to 12% …

More than a month has passed since the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 9-21 – a three-page document that applies a value-added tax (VAT) of 12 per cent on national purchases of exporters and indirect purchases of exports. The regulation has caused confusion among business enterprises …

In 2016, more than 1.9 billion adults (39% of the world’s population) were overweight, of which more than 650 million were obese. According to data from the World Health Organization, in just 45 years, the world’s obesity has almost tripled Of all the countries in the world, Mexico ranks first …

President Joe Biden signs an executive order on “Promoting Competition in the U.S. Economy” at the White House in Washington, DC on July 9, 2021. (Evelyn Hockstein / Reuters) Of Deutsche Welle, yesterday: Ireland is about to abandon its 12.5% ​​corporate tax rates later this year, Irish media reported on …

Missourians at the time of their statehood were subject to both real and personal property taxes. The Territorial Legislature had established the basic system in 1814, and subsequent sessions amended it. State tax has been assessed on land with full or confirmed title; unconfirmed land; town lots, dwellings and other …

The International Chamber of Shipping (ICS) issued a statement following the European Commission’s proposal to extend the EU’s Emissions Trading System (ETS) to cover the transport sector international maritime. Guy Platten, ICS General Secretary, commented: “Apart from an ideological revenue-raising exercise, which will greatly upset the EU’s trading partners, it …

MUMBAI: Stating that the issue of inflation and rising fuel prices will dominate the session of parliament from July 19, top Congress leader Mallikarjun Kharge claimed on Monday that the Center has raised Rs 25 lakh crore through fuel tax, but it does not use that fund for the welfare …

With so much “normal” social and economic life put on hold by the coronavirus pandemic, there’s no better time to consider new approaches to development. Until we achieve environmental, social and economic sustainability, we as a species will be in a race against time. DHAKA – The pandemic has thrown …

A growing chorus is calling for the long-awaited Tokyo Olympics to be canceled, even though the facts on the ground leave the Japanese authorities with no valid reason to do so. The only thing that will stop the event now is a no-show from all the athletes themselves. LONDON – …

The debate over the proposed tax measures seems to generate more heat than light. While there is a general disaffection with higher prices for goods and services, there is little information on legitimate ways in which government can increase revenues to support service delivery. The debate is not limited to …