DAVAO CITY — The Mindanao Development Authority (MinDA) has signed separate agreements with the US Agency for International Development (USAID) and the Asian Development Bank (ADB) for the development of the South Central Mindanao Corridor (SCMC), one of three geographic clusters identified under the Mindanao 2020 plan.
RAISING INVESTMENT in public infrastructure would translate to around 5% of economic expansion for the Philippines after 15 years, an economist from the International Monetary Fund (IMF) said.
INFLATION is expected to remain benign throughout the first half of 2016, an analyst said on Monday, with depressed oil prices seen tempering any upside price shocks.
THE NATIONAL Power Corp. (Napocor) is rebidding this month a solar-diesel hybrid power plant on Limasawa island that could serve as a template for similar projects to be bid out to private companies to hasten the electrification of remote villages.
You’ve probably heard that some Bureau of Internal Revenue (BIR) examiners are asking for transfer pricing documentation as part of regular audits. We are also aware that the BIR International Tax Affairs Division (ITAD) has been asking for transfer pricing documentation from companies applying for tax treaty relief for transactions involving related parties.
MANILA ELECTRIC Co. (Meralco) is urging the Department of Energy to adopt a policy on energy sourcing that will guide existing power generation companies on how they will embark on future projects.
DAVAO CITY — Connectivity by air or sea transport has been identified as the key factor for realizing the growth blueprint adopted by the Brunei, Indonesia, Malaysia, Philippines-East ASEAN Growth Area (BIMP-EAGA) for the next 10 years.
A “controlled foreign company” (CFC) is, as the name implies, a foreign company or subsidiary owned by a parent company which is situated in a country different from the parent company’s country of residence. The tax laws of many countries, including the Philippines, do not tax the CFC’s parent company on the CFC’s net income after tax (NIAT) unless the NIAT is distributed as dividends. CFC rules and other anti-deferral rules combat opportunities for profit shifting and long-term deferral of taxation by enabling jurisdictions to tax income earned by foreign subsidiaries where certain conditions are met.
THE PHILIPPINES received recognition for implementing a global transparency initiative covering the oil, gas and mining industries, which the country’s Finance secretary sees as possible third leg of growth for the economy.
THE PHILIPPINES needs a sense of urgency to unleash, modernize and diversify the agriculture business and food production if it wants to achieve a broad-based and inclusive growth, foreign business chambers said in the first of seven policy notes that it will be releasing next week.