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Everyone has a wish list. The Merriam-Webster Dictionary defines “wish list” as “a list of desired but often realistically unobtainable items.”

For individual taxpayers, the offshoot of the approval (and line item veto) of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion Act (TRAIN Law) is uncertain.

New Year, perhaps, is the most celebrated occasion around the globe. People stay awake to greet midnight, most often, with fireworks and loud noises at the stroke of 12.

THE TRAIN stayed on track and reached its destination in time to take effect yesterday, Jan. 1, as targeted.

Giving gifts on special occasions like Christmas, Valentine’s, birthdays, etc., is a tradition. Most of us have sent or received lots of Christmas gifts.

In the Philippines, the last major overhaul of the tax system came 20 years ago. But Filipinos may need not wait any longer.

For a long time now, recovering from a loss as massive as being denied of their right to claim a refund for the creditable input value-added tax (VAT) they paid has been a key issue for diligent taxpayers. This issue remains a conundrum that is worthy of review and clarification every now and then. With the rise of VAT refunds denied because of technicalities, taxpayers are now keen on seeking justice with their own hands. Thus, a loss of a loss — i.e., when denied a claim, which is a significant loss on their part, taxpayers are convinced they can deduct the same as a loss.

The holidays are upon us! Homes, offices, shopping centers, and places of worship are adorned with sparkling decorations.