Explaining The Philippine Tax Amnesty Act of 2019

The Philippine Tax Amnesty Act of 2019, also known as the Republic Act 11213 (RA 11213), allows taxpayers to avail the benefits of the Estate Tax Amnesty law. The Philippine President Rodrigo Duterte signed the act on February 14, 2019, and it already started effect on June 15, 2019.   On May 30, 2019, the released Revenue Regulations 6-2019 (RR 6-2019) that states the act will “provide the taxpayers a one-time opportunity to settle estate tax obligations through an estate…

What is TRAIN BILL for Professionals?

Over a year into President Rodrigo Duterte’s administration, the plans for Dutertenomics’ Build, Build, Build infrastructure program has finally commenced. The socioeconomic agenda, which features a promising vision of yielding robust growth across the Philippines, however, needs appropriate funds in order to be successful. To address this, President Duterte has signed into law the Tax Reform for Acceleration and Inclusion (TRAIN) bill, which is visualized to generate P130 million in revenues. Set to be implemented this January 2018, the TRAIN…