Corporate income tax collection up 17% - via Philippine Daily Inquirer o Corporate income tax collection registered a double-digit growth in the first four months of the year, as the economy’s better-than-expected performance translated to favorable earnings for the business sector. o Data from the Bureau of Internal Revenue showed that income tax collected from corporate entities reached P132.52 billion in January to April, up by 17% from P113.42 billion in the same period last year. o The substantial increase in corporate income tax collection came as improving business and consumer sentiment in the Philippines helped drive investments and consumption. Increased economic activities were said to have led to higher revenues for providers of goods and services, thereby increasing their tax payments, too.
Posted on: Mon, 08 Jul 2013 03:50:21 +0000