PwC Philippines Chairman and Senior Partner Alex Cabrera rethinks about a malady that our country has been suffering from for the longest time, despite the institutions and systems to address it. Why not do what other economies have done? With his article "Integrity Commission — time to dare!", he issues the first call for the creation of an independent agency that would solely exist to solve corruption.
This may yet be the most taxpayer-biased tax amnesty law ever to be passed. PwC Philippines Chairman and Senior Partner Alex Cabrera shows us how the tax amnesty can protect even the criminally minded and explains the neutralizer in this legislation.
At the start of the year, we often find people determined to come up with New Year’s resolutions. For sure, staying healthy is part of most people’s list. Not surprising, as Filipinos are now health-conscious; health and wellness establishments are everywhere; and most people are trying new diets.
Last year, the government’s initiative to reform the tax system kicked off when Republic Act 10963 or the “Tax Reform for Acceleration and Inclusion” (TRAIN) Law took effect. To promote a healthy lifestyle and provide better health care for Filipinos, the TRAIN Law amended provisions in the National Internal Revenue Code on value-added tax (VAT), expanding the list of VAT-exempt transactions to include sale of drugs and medicines prescribed for diabetes, high cholesterol, and hypertension starting Jan. 1.
