CEBU CITY — Emerging markets in the Asia-Pacific Region could help drive the global economy in the future although key reforms are needed to achieve this, a private sector advisory council to members of the Asia-Pacific Economic Cooperation (APEC) told the bloc’s Finance Ministers.
THE POWER SUPPLY is expected to sufficient next year, an official of the Department of Energy (DoE) said, adding that Mindanao will also recover from its supply problems by the first half of 2016, though the southern island may also suffer the worst of the El Niño weather phenomenon, an official said.
Emotions can get the best of us at times, and “thinking before acting” often saves us from many wild ideas brought about by intense emotion. Tax regulations often inspire such intense emotions, as manifested in comments on social media regarding new tax issuances. Of course such issues are not resolved via social media. Regulations that a taxpayer wishes to question will require the filing of a formal plea before a court. Which brings about the key question: which court should you file a complaint with?
THE CEBU ACTION Plan for Asia-Pacific Economic Cooperation (APEC) members is expected to boost the share of public-private partnership (PPP) projects to as much as 40% of the Philippines’ infrastructure requirements by 2020, an official said.
A THINK TANK which counts former senior economic ministers as its members has revived its call to lift restrictions on foreign ownership, saying there is “much to be gained” if the cap is relaxed.
DIPOLOG CITY — Farm produce in Mindanao is sufficient and competitively priced, but farmers have no direct access to major buyers such as the multinational food companies, according to an executive of the Philippine Chamber of Commerce and Industry (PCCI).
INSTEAD OF SUPPORTING the mining revenue sharing bill drafted by the Executive, industry officials said they are more likely to back a separate fiscal regime proposal which they find more attuned to their needs.
DIPOLOG CITY — Challenges arising from Association of Southeast Asian Nations (ASEAN) integration are not just about tariff, but more to do with standards conformance and intellectual property rights, Mindanao’s top business leaders were told at the opening yesterday of the 24th Mindanao Business Conference here.
In an en banc decision on July 30 (CTA En Banc Case No. 1191), the Court of Tax Appeals (CTA) reiterated the legal principle that allegations of falsity or fraud in the filing of tax returns must be proven to exist by clear and convincing evidence and cannot be justified by mere speculation. The fraud or falsity contemplated by law is actual and not constructive in nature. Therefore, it must be intentional i.e. a willful and deliberate act of deception with the sole objective of avoiding tax.
ZAMBOANGA CITY — Mindanao’s economic and business leaders are gathering in Dipolog City, Zamboanga del Norte starting today for the three-day Mindanao Business Conference (MinBizCon) with discussions focusing on how investors in the southern island can best take advantage of new opportunities offered by the Association of Southeast Asian Nations (ASEAN) integrated economy.