Exemption System News Today

DOF Secretary Carlos Dominguez III (file photo) MANILA - The Department of Finance (DOF) under Secretary Carlos Dominguez III has beefed up its digitalization initiatives, which include facilitating trade online and making the filing of tax exemptions more convenient to better serve the public and improve its oversight functions and policy-making processes. Dominguez said these modernization initiatives include the enhancement of the DOF's Tax Exemption System (TES), which was replaced by th...

THE Department of Finance (DOF) has made it easier for importers to apply for tax and duty exemptions from its revenue office. The enhancement of the DOF’s Tax Exemption System (TES), which was replaced by the web-based TES lite, is among the digitalization initiatives undertaken by the DOF.  “These digitalization…

Bullish about saying no it is keeping self—isolation more widely in place until 16th august, they say that it in place until 16th august, they say thatitis in place until 16th august, they say that it is a key and essential way of keeping transmission down, and that the way to imagine the disruption is by creating the exemptions, so ministers are looking at the list of that, assessing is at their regular covid meeting, but it hasnt look looked like that strategy is up for review at all. there ...

U.S. Cross-border Tax Reform and the Cautionary Tale of GILTI Daniel Bunn Key Findings The U.S. joined many other developed nations in adopting territorial provisions and anti-base erosion rules as part of the 2017 tax reform. One major piece of that reform, that is not typical in other territorial systems, is a new definition of currently taxable foreign earnings, Global Intangible Low Tax Income (GILTI), which is taxed at an effective rate of 13.125 percent, with the rate set to increase afte...