Bureau Of Internal Revenue News
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The Philippine government’s 2031 bonds halted a six-day advance on speculation the rally that sent yields to the lowest level since July 2011 was overdone.
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If the U.S. had the same income tax rules it did when the levy started 100 years ago this weekend, 86 percent of households would be exempt from paying it.
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The Philippines said it expects 5 billion pesos in taxes from the so-called PEACe bonds, which will mature on Oct. 18.
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Philippine 19-year sovereign bonds gained the most in two weeks after the government reported record tax receipts for this year, boosting optimism that debt supply will drop in 2013. The peso fell.
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The Philippines’ Bureau of Internal Revenue missed its August collection goal, Commissioner Kim Henares told reporters in Manila today, without elaborating.
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The Philippines’ Bureau of Internal Revenue collected 87.93 billion pesos in August, the agency said in an emailed statement today. The agency missed its collection goal for the month by 4.63 percent, the government said in its Twitter page.
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The Philippines’ Bureau of Internal Revenue may issue a decision on companies’ minimum public ownership and corresponding taxes by Dec. 15, Commissioner Kim Henares told reporters today in Manila.
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Filipinos investing in the local property market with money earned overseas helped make the peso Asia’s best-performing currency of 2012, even as a global economic slump sapped demand for riskier assets.
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The Philippines’ Bureau of Internal Revenue collected 66.55 billion pesos in September, missing its goal, Commissioner Kim Henares told reporters in Manila today.
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Philippine billionaire Lucio Tan’s venture with Philip Morris International Inc. said taxes on cigarettes should be gradually increased to avoid hurting the nation’s $2.1 billion tobacco industry.
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