Connect with us

Hi, what are you looking for?


Ease of Paying Taxes bill approved on second reading in House

People line up to file their income tax returns at the Bureau of Internal Revenue office in Intramuros, Manila, April 18. — PHILIPPINE STAR/ RUSSELL A. PALMA

A BILL modernizing tax administration and simplifying tax compliance has been approved on second reading at the House of Representatives.

House Bill 4125 or the proposed Ease of Paying Taxes Act, also tailors the compliance process for the various types of taxpayer.

The bill is a priority measure of President Ferdinand R. Marcos, Jr. as laid out in his State of the Nation Address on July 25.

It simplifies tax returns and processes for smaller taxpayers to ease compliance, introduces a medium-sized taxpayer classification, creates a special unit of the Bureau of Internal Revenue focused on improving taxpayer services, and removes the P500 annual taxpayer registration fee.

An amendment was also approved in Section 28, inserting a new paragraph setting the eligibility requirements for “tax advocates,” who are Filipino citizens, 40 years of age, lawyers and certified public accountants with 10 years’ tax experience.

It also seeks to amend via the insertion of Section 314 into the National Internal Revenue Code of 1997 as amended. The section prescribes the penalty of 2-5 years’ imprisonment and a fine of P50,000-P100,000 for persons, including public officials, who violate the taxpayer bill of rights. — Kyanna Angela Bulan

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...


Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...


Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...


REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...


Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.