Tonight, I finally got a copy from the judiciary’s website of the 2009 Taxation questionnaires and suddenly scan the same out of curiosity. After a few minutes on it, i can say:

“CPA and accounting graduate Barristers are more happier that the rest in Taxation”

I am not pretty sure who the two (2) examiners on taxation are, but I suspect that they are CPA-lawyers.

At present, we read on papers the many faces of financial crisis, budget deficit, failure to meet collection target, and the likes. Philippines in on a budgetary system where collections and expenditures are budgeted ahead. Expenditure is quite easy to meet as they simply spend on many things and in many ways, while collection [...]

Republic Act No. 9593 otherwise known as “Tourism Act of 2009” was approved into law on May 12, 2009. This declares Philippine Tourism as an indispensable element of the national economy and an industry of national interest and importance. More importantly is the creation of the so-called Tourism Economic Zones (TEZ) somewhat similar to that of Philippine Economic Zones (PEZA under RA No. 7916), and Bases Conversion and Development Authority (BCDA under RA No. 7227) Ecozones.

Republic Act No. 9442 amending the MAGNA CARTA FOR DISABLED PERSONS had been approved on April 30, 2009 and introduced specific benefits and privileges to persons with disability in relation to its purchases of certain goods or services, protection from public ridicule and from vilification, and incentives to seller establishments, to those caring for and living with persons with disability, and to those individuals or non-governmental institutions establishing homes to suit the needs of persons with disability.

Republic Act No. 9648 was signed into law by President GMA on June 30, 2009 and applies retroactively to March 20, 2009. This made permanent the 5-year exemption introduced by Republic Act No. 9243 that commenced on May 20, 2004 and ended up on May 20, 2009.

Good news to the amusement industry! R.A. 9640, provided a big drop of amusement tax rate from 30% maximum to now 10% maximum. This will help the industry in this trying times and will hopefully reduce our fees for amusement places.