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Bacolod City, PhilippinesFriday, March 23, 2012
‘Proposals for VAT on oil
scrapping won’t progress’

MANILA – House Speaker Feliciano Belmonte Jr. yesterday junked proposals to scrap the value-added tax in oil.

"I don't think it would get anywhere," said Belmonte in a press conference at the Hotel Sofitel in Pasay City when asked to comment on the proposal that seeks to address the spiraling prices of fuel.

Belmonte said VAT on oil is something that has been found beneficial to the country as it goes into the general fund of the government and the government can do a lot of things such as improving the nation's basic services.

BIR launches new
tax campaign

'I Love Philippines, I Pay Taxes'

The Bureau of Internal Revenue in Dumaguete City, Negros Oriental, launched a tax campaign called “I Love Philippines, I Pay Taxes,” at the Robinson’s Place yesterday.

The tax campaign kick-off of the BIR Revenue District 79 led by Cresencio Agad was attended by Revenue Region 12 director Perfecto Aranas, who appealed to all Negrenses for their sense of patriotism by paying their taxes correctly.

Aranas, the top implementer of "Oplan Kandado" while assigned in Davao, stressed that it is easier nowadays to detect under-declaration of taxes.

SSS condonation
plan calendared

The Social Security System is calling on its members with overdue loans to apply for the new loan condonation program, which will start on April 2, an SSS press release said.

The new loan condonation program allows members to settle the unpaid principal amount and corresponding interest of their loans without paying the entire amount of incurred penalties. The  terms and requirements vary depending on the type of applicant availing the program, the press release said.

Beneficiaries of deceased borrowers filing their death claim applications, and borrowers filing total disability or retirement claims within the availment period,  are also covered by the new amnesty.

Business
Button‘Proposals for VAT on oil scrapping won’t progress’
ButtonBIR launches new tax campaign
ButtonSSS condonation plan calendared

ButtonPeso moves sideways at 43.06 vs US dollar
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