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DOF eyes P11.76 B yearly from new income tax measure (Philstar.com via Yahoo! Philippines News)
The Department of Finance (DOF) expects to generate P11.76 billion yearly from a measure proposing to restructure the country's income tax system.
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Simplified income tax bill revived (Philippine Daily Inquirer)
THE OLD PROPOSAL OF SOLVING chronic tax evasion among self-employed individuals through the simplified net income tax scheme (Snits) has been revived in Congress and the Department of Finance wants its immediate enactment into law.
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Hopkinton tax relief agency won't be able to give this year (Hopkinton Crier)
The managers of a town tax relief program say they have closed a funding shortfall but still do not have enough money to hand out assistance this fall because of lower donations in recent years.
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'Safe Senior' program provides tax relief for low-income residents (Lawrence Journal-World)
Some low-income Kansas senior citizens will be eligible for more property tax relief in 2009.
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Income tax perk limits approved by House panel (GMA News)
MANILA, Philippines - The House ways and means committee Thursday approved a bill amending a newly passed tax relief law, citing the need to limit the expenses professionals and the self-employed can deduct from gross income and thereby reduce their obligations.
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Bailout Plan Provides Some Relief To Middle-Income Taxpayers (NY1 News)
The $700 billion rescue plan, now officially known as the Emergency Economic Stabilization Act, is chock full of provisions; one provides some middle-income taxpayers some relief from the alternative minimum tax. NY1's Shazia Khan explains in this Money Matters Report.
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Relief for elderly: income from reverse mortgage to be tax-free (Express India)
The elderly may finally get to live in peace with the finance ministry notifying the Reverse Mortgage Scheme, which would exempt from tax the income they earn by mortgaging their property.
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AMT Relief, Other Tax Breaks Get New Life (Kiplinger.com)
Wonder what happened to some popular tax write-offs that expired in 2007? They're back.
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Seniors may get tax rebate (Pittsburgh Post-Gazette)
A property tax rebate program for senior citizens is being considered by the Pine-Richland school board.
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Pak-Japan dual taxation treaty: government-owned banks, FIs granted tax exemption (Business Recorder)
ISLAMABAD (October 11 2008): The income tax exemption would be available to the government-owned banks and financial institutions of Pakistan and Japan under the new avoidance of double taxation convention from November 9, 2008. Pakistan and Japan on Friday exchanged diplomatic notes to ratify a revised and already signed convention on avoidance of double taxation between the two countries.
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