September just kicked in reminding everyone that we are just a few months away from the season of giving. It is also at this time when individuals from the working sector, whether private or public, expect to receive hard-earned additional income in the form of bonuses. However, such a grant comes with a price — enforced contributions are levied on every form of compensation for personal services to pay for the cost of government.
INFRASTRUCTURE spending in July nearly doubled as agencies played catch-up with their expenditures although the total still fell short of the government’s target for the month, the Department of Budget and Management (DBM) said in a statement.
ECONOMIC GROWTH should pick up in the third quarter from its rate of expansion seen in the first half although a prolonged dry spell poses the biggest downside risk for the country’s prospects, the government’s chief economic planner said.
This week marks the opening of EY’s (previously Ernst & Young) latest global delivery network (GDN) location, our first in the Philippines. It’s the ninth such center we have established as part of our GDN, and will now be our fifth location, following India, China, Argentina and Poland.
THE EUROPEAN UNION (EU) said it is closely monitoring the provisions of the Philippine Competition Act, with its passage in July clearing a major hurdle to the ongoing talks for a possible Free Trade Agreement (FTA).
MACTAN ISLAND, CEBU — Emerging markets should start deleveraging to levels seen before the global financial crisis even though their indebtedness remains lower compared to advanced economies, an International Monetary Fund (IMF) official said yesterday.
THE PHILIPPINES is “pretty untouched” in terms of risks posed by China’s economic slowdown, declining oil prices, and an expected Federal Reserve interest rate hike, a visiting European economist said.
MACTAN ISLAND, CEBU — Senior finance officials yesterday completed drafting the proposed Cebu Action Plan (CAP), gaining broad support from members of the Asia Pacific Economic Cooperation (APEC) before the 10-year road map is presented to ministers later this week.
STATE-RUN Bases Conversion and Development Authority (BCDA) has signed a deal with a British firm that will develop a 160-hectare (ha) health care facility inside Clark Green City in Tarlac province.
It has almost been three years now since the Bureau of Internal Revenue (BIR) first introduced the use of the Electronic BIR Forms (eBIRForms) Package in the preparation and filing of tax returns of taxpayers who are not registered under the Electronic Filing and Payment System (EFPS). The eBIRForms Package is a platform that allows a non-EFPS taxpayer to accomplish a tax return electronically.