CONGRESS aims to pass a measure that will lift taxes imposed on foreign carriers by the first half of next year, ranking officials of the two chambers said.
Following Air France-KLM’s recent decision to phase out its direct flights from Manila to Europe, both the Senate and House of Representatives are now finding ways to expedite the passage of bills seeking to lift 3% common carriers tax (CCT) on gross receipts and 2.5% gross Philippine billings tax (GPBT) slapped on foreign airlines and shippers.
“We aim to pass the bill by the second quarter of 2012,” Senator Ralph G. Recto, ways and means committee chairman, told BusinessWorld in a chance interview last week.
Senate Bill 3065, which was filed by Mr. Recto last month, aims to relieve foreign carriers of the total 5.5% tax if their country of origin does not levy similar taxes to Philippine-owned carriers.
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By: Antonio Siegfrid O. Alegado
Source: Business World, Dec. 5, 2011
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