JUST IN: Ride-hailing giant inDrive is spending P2.7 million for fuel vouchers to support its Filipino drivers. It is also reducing commission rates to as low as one percent for trips booked in high-demand areas. | @alyasjah
PH AMONG LAST WITHOUT DIVORCE 💔
Days before Valentine’s Day, we’re sharing this not-so-fun fact: Only two countries in the world prohibit divorce — Vatican City and the Philippines.
Meanwhile, the Philippines allows annulment, which is distinct from divorce and is generally expensive and time-consuming to obtain.
Music and Lyrics was released 19 years ago.
All the pop songs were written from scratch. Hugh Grant trained to sing just well enough to sell former pop-star credibility, while Drew Barrymore’s imperfect vocals were kept on purpose.
@4orreall that theory has teeth. Some people are only meant to walk a chapter with you, teach you something, shift you, then disappear once the lesson lands. Not every ending needs closure sometimes the absence is the closure.
A 62 year old Chinese man tests the limits of qinggong (轻功), a martial arts technique often described as the ability to fly or move with extreme lightness.
This is why I often say the #Philippines are the hurricane capital of the world.
Just like last November, we’re now looking at 2 back-to-back strong typhoons for the nation. How they endure this nearly every year is incredible.
Surely.
1️⃣Limit added sugar intake to 25 grams (approximately 5 teaspoons) per day from all sources.
2️⃣Walk a minimum of 4000 steps per day
3️⃣Have 3 cups of unsweetened black coffee a day
4️⃣Vaccinate for hepatitis B
5️⃣Consume at least 0.8g/kg body weight protein per day
From paper to digital, technology is transforming the way notarization works. #eNotarizationPH will soon offer convenience without compromising legality. Find out the scope, limitations, and requirements for its use.
Details to follow.
For questions, contact us at [email protected].
Read the full text of A.M. No. 24-10-14-SC, or the eNotarization Rules, at: https://t.co/6QRDllus9V
#SupremeCourtPH
The #SupremeCourtPH (SC) has clarified that businesses registered with the Philippine Economic Zone Authority (PEZA) are not completely exempt from paying Value-Added Tax, or VAT.
In a Decision written by Associate Justice Japar B. Dimaampao, the SC’s Third Division partially granted Coral Bay Nickel Corporation’s (Coral Bay) claim for a VAT refund.
Coral Bay is a PEZA-registered domestic company that manufactures and exports nickel and cobalt mixed sulfide. It sought a refund from the Bureau of Internal Revenue (BIR) for unutilized input VAT it paid for goods and services used outside the PEZA zone (ecozone).
Businesses generally pay both input VAT, which apply on the goods and services they purchase, and output VAT, which they charge to their customers when selling products or services.
At the end of a tax period, they subtract their input VAT from their output VAT, and then pay the difference to the government.
The BIR failed to act on Coral Bay’s refund claim, prompting the company to bring the case to the Court of Tax Appeals (CTA).
The CTA 𝘌𝘯 𝘉𝘢𝘯𝘤 treated Coral Bay as fully exempt from VAT. Thus, its purchases were considered zero-rated, making it ineligible for a VAT refund.
The SC, however, reversed the CTA 𝘌𝘯 𝘉𝘢𝘯𝘤 and ruled in favor of Coral Bay.
Under Republic Act No. 7916, or the 𝘚𝘱𝘦𝘤𝘪𝘢𝘭 𝘌𝘤𝘰𝘯𝘰𝘮𝘪𝘤 𝘡𝘰𝘯𝘦 𝘈𝘤𝘵 𝘰𝘧 1995, PEZA companies are exempt from national and local taxes, except for real property tax. Instead, they pay a 5% tax on gross income.
This exemption, however, does not include VAT.
Nevertheless, companies operating within ecozones may claim zero-rated VAT under the cross-border principle. This provides that no VAT is charged on goods or services intended for use outside the country of the taxing authority.
However, if the goods are used outside the ecozone but still within the Philippines, it is the destination principle which will apply. This provides that goods are taxed in the country where they are consumed.
In Coral Bay’s case, the purchases were consumed outside the ecozone, but within Philippine territory. As they are subject to VAT, Coral Bay is entitled to a refund for the unutilized input VAT.
Read the full text of the press release at https://t.co/7jv1b0srsW.
Read the full text of the Decision https://t.co/PKiWaW2ldc.
Copying of this content is subject to the SC PIO’s Credit Attribution Policy: https://t.co/F48RF1uVKr.