Maynilad, MWSS sign new concession agreement mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
Published May 15, 2021, 12:04 PM
The “Make It Happen in the Philippines” campaign and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act will help foreign investors expand their markets when they invest in the country, Philippine Ambassador to Japan Jose C. Laurel V told Japanese businessmen.
The envoy spoke before a forum organized by the Embassy of the Philippines and the International Friendship Exchange Council on Friday, May 14, to invite Japanese investors to look at how they can partner with the Philippines.
The FEC Business Forum attended by chief executives of Japanese companies. (Tokyo PE photo)
Laurel took the opportunity to update company presidents and C-level executives on the developments in the country.
SARS shifts gear on revenue from taxis grocotts.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from grocotts.co.za Daily Mail and Mail on Sunday newspapers.
Here’s how much it costs to own and run a taxi in South Africa
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SA Taxi owner, Transaction Capital has published its annual report for 2020, outlining the costs of operating a taxi in South Africa.
The group’s data show that minibus taxis have grown in popularity over the last few years, with an estimated 15 million commuter trips undertaken daily.
This has come about due to increased dissatisfaction around bus stop facilities and rail’s dwindling operating capacity.
Despite the uptick in usage, SA Taxi said it has become increasingly expensive to own a taxi in South Africa. The report shows that retail prices for minibus taxis have risen 3.5% since October 2020, with further increases expected this calendar year.
Mboweni, SARS come clean on revenue shortfall
The minister said the interventions are aimed at achieving the SARS strategic intent of building a taxes and customs system for the rogue business owners. DA Member of Parliament, Geordin Hill-Lewis, had in his question to the Mboweni, asked how much in corporate tax had the revenue collector received from the minibus taxi industry.
Mboweni said just R5 million had been collected in Corporate Income Tax (CIT) from taxi operators. However, he added, this amount includes tax collected from their employment income – and many ‘artful dodgers’ have hoodwinked SARS:
“It’s because the industry does not correctly disclose income from taxi business on their CIT returns but included under a generic income source code. We were not able to determine income solely from taxi operations. Our analysis indicates that the majority of the minibus taxi industry is declaring a nil return or are having a refund due to them.”