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By Dylan GAMBA NAIROBI, June 26, 2024 (AFP) – Kenyan President William Ruto said Wednesday that a bill containing contentious tax hikes would “be withdrawn”, dramatically reversing course after more than 20 people were killed in clashes with police and parliament was ransacked by protesters opposed to the legislation. The initially peaceful demonstrations were sparked last week by the 2024 finance bill — which politicians passed Tuesday afternoon — and took Ruto’s administration by surprise […]
Makati City and Manila City next top performing cities with highest tax collections (Eagle News) – Quezon City was named as the country’s top-performing city in terms of local revenue generation after it collected P22.9 billion in taxes last year, the Department of Finance said. In a memo released by the DOF-Bureau of Local Government (DOF-BLGF), Quezon City ranked no. 1 among all the cities in the country in terms of tax collections or […]
MONTREAL, Canada (AFP) — The Canadian province of Quebec, struggling to control the Omicron variant, will impose a new health tax in the coming weeks on those who are not vaccinated against Covid-19. “We are working on a health contribution for all the adults who are refusing to get vaccinated” because they represent a “financial burden for all Quebecois,” said Quebec Premier Francois Legault. The 10 percent of Quebecois who have not yet received any […]
(Eagle News) – President Rodrigo Duterte signed into law on Wednesday, Sept 22, an act taxing Philippine Gaming Offshore Operations (POGOs). Malacanang announced this today, Thursday, Sept. 23, saying this was part of the Philippine government’s regulation of all kinds of gambling. Presidential Spokesperson Harry Roque said Republic Act 11590, which taxes POGOs, allocates 60 percent of total revenue collected from gaming tax imposed on offshore gambling to be be allocated for the implementation […]
(Eagle News)–The Bureau of Customs has collected over P97 billion worth of duties and taxes from the government’s Fuel Marking Program. In a statement, the BOC said the P97.191 billion worth of duties and taxes from the importation of gasoline, diesel, and kerosene is proof of the BOC’s “continued commitment to protect the borders and collect lawful revenues for the government.” The Fuel Marking Program which was launched in September 2019 to curb illicit trade […]
NEW YORK, United States (AFP) — A US appeals court ruled Tuesday that two banks must hand over documents about Donald Trump’s finances to Congress, in the latest legal blow to the president. Two Democratic-controlled committees issued subpoenas to Deutsche Bank and Capital One in April demanding that they hand over financial records related to Trump and his family. Trump, who is fighting attempts by Democrats and a New York prosecutor to force him to […]
(Eagle News)–The Senate committee on ways and means has approved the proposed bill to increase the taxes on alcohol products and heated tobacco products such as vape and e-cigarettes. It was Senator Pia Cayetano, committee chair, who endorsed committee report number 6 or Senate Bill No. 1074 signed by 11 senators to the plenary. According to Cayetano, the senators, in proposing to increase those taxes, considered a World Health Organization report that said that out […]
The US warned Tuesday it was considering a complaint at the World Trade Organization over “discriminatory” new taxes on American digital giants such as a Facebook and Google planned by France and other EU nations. “We think the whole theoretical basis of digital service taxes is ill-conceived and the effect is highly discriminatory against US-based multinationals,” Chip Harter, a Treasury official and US delegate for global tax talks, said in Paris. Speaking ahead of two […]
SAN FRANCISO, United States (AFP) — Apple announced Wednesday it would pay some $38 billion in taxes — likely the largest payment of its kind — on profits repatriated from overseas as it boosts investments in the United States. The iPhone maker said in a statement it plans to use some of its foreign cash stockpile, which qualifies for reduced tax rates under a recent bill, to invest in new projects. Apple, which claims to be the […]
by Alex Pigman Agence France Presse TALLINN, Estonia (AFP) — Google and Facebook may face higher tax bills in Europe as the EU rushed Saturday to change rules so that more of Silicon Valley’s mega profits fall into public coffers. Public anger against the billions of euros earned by online behemoths is growing louder in Europe and EU finance ministers meeting in Estonia pledged to make sure the companies pay a fairer tax. But […]
(Eagle News) — The government has lost an estimated P145 billion annually in foregone revenues because of the non-adjustment of fuel excise taxes for the past two decades, the Department of Finance revealed during a public hearing at the House Committee on appropriations. The DOF said that this loss was equivalent to about 1 percent of the country’s Gross Domestic Product (GDP). “The non-adjustment of fuel excise taxes for the past two decades has […]
QUEZON City, Philippines (Eagle News) — President Rodrigo Duterte said rich businessmen like Lucio Tan should pay taxes. In his speech made in front of the Filipino community in Doha, Qatar, the President said that there is a need to collect taxes to cover the expenses of government programs. “In the fullness of God’s time, I am sure, as long as there is no corruption and I am able to get the taxes that these […]
