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F1 champion Hamilton avoided taxes on luxury jet – leaked docs

Formula One champion Lewis Hamilton avoided paying taxes on his private jet using an elaborate scheme that is now under investigation by British tax authorities, new leaked documents has revealed. The driver received a $4.4 million (£3.3 million or €3.7 million) value-added tax (VAT) refund in 2013 after his luxury plane was imported into the […]

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Senate version sets higher excise taxes on cars

The latest Senate version of the first comprehensive tax reform package is proposing that the excise tax on cars would have a higher rate next year from what was passed in the Lower House last May, a move which raises prices beyond the comforts of the automobile industry. Senate Bill (SB) 1592, which is supported […]

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Going high-end: what to buy before excise tax increases

It’s a twist on the “What car would you buy if you won the lotto” question. This time, it’s: “What car will you buy before the excise tax increases?”

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Campi: Higher excise tax on vehicles ‘sending wrong signal’ to automotive investors

Auto industry players said the Department of Finance was sending a wrong signal to investors with its plan to raise excise taxes on vehicles, even as the government maintained that higher prices would not necessarily deter purchases. “Campi (the Chamber of Automotive Manufacturers of the Philippines Inc.) fully supports the initiative of government to raise […]

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3-step oil excise tax hike eyed

As prices of oil products as well as vehicles will increase under the proposed first package of the Duterte’s administration comprehensive tax reform program, inflation is seen to rise 3 percent or within the government’s target next year, according to the Department of Finance. House Bill (HB) No. 4774 filed by House ways and means […]

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Higher oil tax faces rough sailing in Senate

Tax reform, especially lowering personal income tax rates, will be high in the Senate’s priority when sessions resume today, but Senate President Aquilino Pimentel III said they would continue to oppose moves to slap new taxes. “Tax reform is very high in our priorities, but I think the Department of Finance should explain it more […]

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Higher taxes could derail auto industry’s resurgence

Gutierrez

Traffic gridlock in Metro Manila, Cebu City, Davao City and other urban centers has elicited numerous suggested solutions, but the Department of Finance has come up with a novel one: reduce the number of new cars on the road by jacking up their prices via higher taxes.

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Higher taxes on oil products imminent

THE DUTERTE administration is bent on raising the excise tax on petroleum products and is now drafting a targeted subsidy scheme similar to the existing conditional cash transfer (CCT) program for poor households to be affected. Finance Secretary Carlos G. Dominguez III pointed out that “contrary to the common perception that fuel excise tax increases […]

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BIR files P638.36 M tax evasion complaint vs luxury car importer

The Bureau of Internal Revenue (BIR) on Thursday filed P638.36-million tax evasion complaint with the Department of Justice against an importer of luxury cars. Facing complaint for violation of the National Internal Revenue Code (NIRC) specifically for willful attempt to evade or defeat tax for taxable years 2013 and 2014 is Eddie Mitra Estallo Jr. for Amest […]

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Nov 15, 2017

Isuzu, in its commitment to provide the cleanest possible diesel powertrains in the country, has released their latest diesel