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Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
An Act Declaring the Existence of a National Emergency Arising from the Coronavirus Disease 2019 (COVID-19) Situation and a National Policy in Connection Therewith, and Authorizing the President of the Republic of the Philippines for a Limited Period and Subject to Restrictions, to Exercise Powers Necessary and Proper to Carry Out the Declared National Policy and for Other Purposes
The dish made news nationally in March 2021, during the COVID-19 pandemic in the Philippines, after a video surfaced on social media showing a delivery rider affiliated with GrabFood being denied access in Muzon, San Jose del Monte. He was to deliver lugaw to a customer in the barangay.
“A refundable credit reduces a taxpayer’s total tax liability to the extent that a taxpayer can receive a refundable credit that is more than their total tax liability and receive a refund ...
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
The Bayanihan to Recover as One Act, also known as Bayanihan 2, [1] and officially designated as Republic Act No. 11494, is a law in the Philippines that was enacted in September 2020 granting the President additional authority to combat the COVID-19 pandemic in the Philippines. [2] [3]
The Expanded Value Added Tax (E-VAT), is a form of sales tax that is imposed on the sale of goods and services and on the import of goods into the Philippines. It is a consumption tax (those who consume more are taxed more) and an indirect tax, which can be passed on to the buyer. The current E-VAT rate is 12% of transactions.
In the middle of a coronavirus lockdown in the Philippine capital, Grace Lagaday was struggling to breastfeed her newborn without milk storage bottles and nursing pads. With shopping centres shut ...