No more tax on balikbayan boxes starting Dec. 25

THE Duterte administration has come up with the rules exempting balikbayan boxes from taxes to be effective on Christmas Day, the Bureau of Customs (BOC) said.

The implementing rules and regulations (IRR) concerning the consolidated balikbayan boxes will take effect on December 25 after the BOC and the Department of Finance (DOF) signed Customs Administrative Order (CAO) 05-2016.

CAO 05-2016 serves as the IRR on Section 800 (g) of the Customs and Modernization and Tariff Act (CMTA), and covers the sending of balikbayan boxes by Qualified Filipinos While Abroad (QFWA) to their families and relatives. (MORE)

Aquino urged to support bills lowering income taxes in final Sona

A LAWMAKER urged President Benigno Aquino III on Wednesday to express support to bills that will lower individual income taxes in his final State of the Nation Address (Sona).

Senator Juan Edgardo Angara, chairman of the Senate committee on ways and means, said he is hoping that among the measures the President traditionally mentions in the Sona as for priority approval are those that will revamp tax brackets. (Read more)