Around The Nation.
Efren 'Bata' Reyes avails of BIR's IVAP Philippine Billiard King Efren "Bata" Reyes sought the assistance of the Bureau of Internal Revenue (BIR) to avail of the Bureau's Improved Voluntary Assessment Program (IVAP). Reyes met with Commissioner Jose Mario C. Bunag at the BIR National...

Gunning for gains.
THERE THEY go again. The Senate Finance Committee wants to raise capital-gains-tax rates to 30.8 per cent from the current 28 per cent. The move is supposed to increase revenues and, more importantly, shift the burden of taxation toward the wealthy. Of course, we heard the same arguments in...

The worst tax: how payroll taxes have hurt America's working class.
Few subjects inspire more tub-thumping in Congress than the virtues of honest toil. We must eliminate welfare because people must work. We can't curb our gluttonous use of energy because -- they say -- it would jeopardize jobs and work. NAFTA and GATT and even capital gains tax breaks...

The perils of tax reform: frankly, tiny and timid is better than big and bold.
WHEN President Bush said that he would appoint a commission to report on tax reform in the spring, conservative hopes for a fundamental overhaul rose. Could this finally be the moment for a flat tax or a national sales tax? The answer appears to be no. Early reports suggest...

Replacing the corporate income tax with a cash-flow tax.
Americans have been inundated with financial scandals at large corporations during the past two years. In many cases, unethical behavior and poor oversight of corporate management are to blame. But the corporate income tax has also been a key source of corporate inefficiency and scandal. The tax code distorts...

Tax break debate takes on new urgency.
Byline: David Steves The Register-Guard SALEM - With public services on the chopping block, can the state still afford a tax-break policy that lets billions of tax dollars go uncollected? With the economy slumping, should the state cut taxes even more to channel dollars into...

Experts discount tax pain scenario.
Byline: DAVID STEVES The Register-Guard SALEM - To hear some politicians and interest groups tell it, an income-tax increase such as the one proposed by Gov. John Kitzhaber would doom Oregon's economic recovery. Such taxes "will have a devastating effect on the prospective economic recovery...

Adventures in tax-deferred exchange: opportunities and trends in Section 1031 transactions.
If death and taxes are eternal certainties, so also is the urge to avoid taxes. No matter what the economic climate, real estate buyers and sellers are always looking for tax-deferral options. Section 1031 exchange has become increasingly popular over the past three decades, and now predominates in many...

Tax relief sought on sale of foreclosed assets.
The Department of Finance (DOF) will seek Congress approval to scrap the six percent tax on the sale of foreclosed assets of banks, a measure designed to help the domestic banking unload their foreclosed properties faster. Finance Secretary Jose Isidro Camacho explained the lifting of the tax...

Tax exemption set on NPC sale.
Byline: MYRNA M. VELASCO The Bureau of Internal Revenue (BIR) is already scheduled to issue a resolution within the month that would detail out tax exemptions that may be availed of by the Power Sector Assets and Liabilities Management Corporation (PSALM) on the privatization of the National...