She noted that under the DOF proposal, the government planned to collect two kinds of taxes from every proof liter of distilled spirits-first, a P40 specific tax
and second, a 22-percent ad valorem tax based on net retail price per proof.
Under the measure, the current ad valorem tax imposed on distilled spirits will increase from the current 20 percent under the National Internal Revenue Code to 22 percent, while the specific tax
will increase from PHP24.33 to PHP35 per proof liter starting on Jan.
Currently, RA 10351 imposes specific tax
of P22.40 and ad valorem tax of 20 percent on distilled spirits.
OUR BBC licence fee is the only hypothecation tax (a specific tax
for a particular expenditure purpose) that we pay, which means we can work out exactly how and where it is spent; which forces the BBC boss, Lord Hill, to come out with the ridiculous statement that "licence fee-payers support the seven-figure salary (PS1.7m-plus) they pay Gary Lineker"!
Leaders of different anti-tobacco organisations have urged the government to impose specific tax
on tobacco products and withdraw all the facilities given to tobacco companies in the national budget considering public health.
Officials say the Fund has never proposed specific tax
Distilled spirits would be levied an ad valorem tax of 22 percent of net retail price and a specific tax
of P30 per proof liter next year.
HB 8618 provides that starting January 2019, an ad valorem rate of 22 percent including specific tax
rates per proof liter of P30, P35, P40, P45 from 2019 to 2022 will be imposed on distilled spirits; and it will be increased by 7 percent annually starting 2023.
Businesses registered with the Authority for tax purposes can submit their Tax Returns within the deadline and pay taxes due for specific Tax
Periods by visiting the e-Services portal on the FTA website -- eservices.tax.gov.ae -- available 24/7, accessing the Tax Return form, entering the data, then pressing "Submit".
Businesses registered with the Authority for tax purposes can submit their tax returns within the deadline and pay taxes due for specific tax
periods by visiting the e-Services portal on the FTA website - eservices.tax.gov.ae - available 24/7, accessing the tax return form, entering the data, then pressing 'submit'.
There is a specific tax
arrangement in the Basque Country under which its three historical territories have wide fiscal powers and are entitled to levy and collect taxes.