Elated by the success of their hard-won campaign to overhaul the country’s excise tax system, civil society groups are now shifting gear from raising taxes on so-called “sin products” to ensuring proper collection and preventing tax evasion, particularly on cigarettes. Anti-smoking advocate FCTC Alliance Philippines led by its president, Dr…. – Continue reading
Internal Revenue Commissioner Kim Henares has again defied a Supreme Court ruling on the self-executory nature of tax treaties by issuing a circular prescribing additional requirements before privileges granted under a tax treaty may be enjoyed. Henares issued Revenue Memorandum Circular No. 37-2014, announcing the coming into force of the… – Continue reading
Republicans in Maine have been talking for years about the necessity of bringing jobs to our state. And I couldn’t agree more. Maine communities and families depend on private employers creating well-paying jobs here. For this reason, our legislature and governor have instituted many incentives to bring companies to the… – Continue reading
BEIJING – Wholly Foreign Owned Enterprises (WFOEs) are able to repatriate funds out of China in a variety of forms, for which tax implications vary according to the form of repatriation used and the Double Taxation Agreement (DTA) in place between China and the recipient country. The four most commonly… – Continue reading
MANILA – The Bangko Sentral ng Pilipinas (BSP) is mulling over sanctions on local banks that fail to comply with a US tax evasion law. “The BSP will study what sanctions, if any, we will impose if a local bank decides it wishes to handle US persons but exposes itself… – Continue reading
