Philippines MOF Announces Refined Priority Tax Reform Measures

The Philippine Department of Finance March 6 announced a series of stakeholder briefings on refined priority tax reform measures. The MOF is seeking immediate passage of the measures. Its proposals would vary from House Bill 8937 in seeking: 1) a four-tier margin-based royalty ranging from 1.5 percent to 5 percent on income from mining operations outside mineral reservations; and 2) a four-tier margin-based windfall profits tax ranging from 1.5 percent to 10 percent on income from mining operations. The MOF’s measures also include the VAT on Digital Service Providers (DSP), the Imposition of Excise Tax on Single-Use Plastics (SUPs), Package ...