BusinessWorld Online: Economy

Fair play amid intense competition

Economy

Sep 232015

As I was doing my groceries over the weekend, I realized that the two supermarkets on opposite ends of the mall had different business hours, one of them opening an hour earlier. Early birds like me prefer going to the one that opens earlier to avoid traffic and finish household chores as early as possible. These considerations are taken into account by businesses, including the supermarket that opens an hour earlier. An earlier opening time may attract more consumers like me, which results in increased profits and market share.

Seeking easy wins, task force targets black sand quarrying

Economy

Sep 222015

THE FIRST REPORT of the interagency Fact-Finding Committee on Illegal Mining launched on Tuesday tackled mostly small-scale mining and rampant illegal black sand quarrying, in order to score easy wins before moving on to bigger violators.

Province queries Semirara unfreezing by DoE

Economy

Sep 222015

ILOILO CITY — Antique Governor Rhodora J. Cadiao said the resumption of the coal mining operations by Semirara Mining and Power Corp. (SMPC) in the town of Caluya fails to take into account the ongoing provincial investigation into a deadly open-pit accident two months ago.

BIR phasing out receipts printed on thermal paper

Economy

Sep 222015

THE BUREAU of Internal Revenue (BIR) said it will order the phasing out of thermal paper official receipts over three years in order to improve record-keeping for businesses.

Depressed oil prices continue to dampen Customs collections

Economy

Sep 212015

THE BUREAU of Customs (BoC) failed to meet its collection target in August, missing by over 25%, as the continued weakness in oil prices weighed on import valuations.

NEDA sounds tax cut warning, says revenue key

Economy

Sep 212015

SOCIOECONOMIC Planning Secretary Arsenio M. Balisacan cautioned lawmakers on Monday against approving a proposal to cut income taxes, citing the importance of finding new funds for the government’s development efforts.

ODA growth stalls following European fiscal crises — study

Economy

Sep 202015

OFFICIAL development assistance (ODA) increased substantially between 2000 and 2014, according to the MDG (Millennium Development Goal) Gap Task Force Report 2015, though it added that ODA to least-developed countries (LDCs) dropped in the recent years.

GDP to leave out illegal industries for now — NEDA

Economy

Sep 202015

THE NATIONAL Economic and Development Authority (NEDA) said it has no immediate plans to include illicit trade in the computation of gross domestic product (GDP), citing more pressing issues in improving the quality of the economic indicator.

FATCA: Where are we now?

Economy

Sep 202015

On July 13, 2015, the Philippines signed a reciprocal Intergovernmental Agreement (IGA) with the United States to implement the provisions of the Foreign Account Tax Compliance Act (FATCA). Signed into law in 2010 by US President Barack Obama as part of the US Hiring Incentives to Restore Employment (HIRE) Act, the FATCA aims to obtain information on US persons with offshore income and/or assets to increase compliance with US tax laws.

DENR wants permits frozen on new coal-fired power plants

Economy

Sep 172015

THE ENVIRONMENT department has asked the Department of Energy (DoE) to stop granting permits for new coal-fired plants, in order to reduce emissions and cut the country’s dependence on coal.

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