THE PHILIPPINES has managed to control smoking by raising taxes and passing a graphic health warning law, but more needs to be done in the areas of advertising and tobacco use in public places, the World Health Organization (WHO) said.
Jul 072015
BusinessWorld Online: Economy
Jul 072015
THE PHILIPPINES is fourth in the world when it comes to the scale of conditional cash transfers (CCTs), according to a report by the World Bank.
Jul 072015
THE PHILIPPINES’ intellectual property authorities have set a target of confiscating at least P13.3 billion worth of counterfeit and pirated goods this year — sustaining last year’s record performance — and are planning to step up their efforts as Christmas draws near.
Jul 062015
THE DEPARTMENT of Budget and Management (DBM) has ordered government agencies to submit monthly reports of their disbursement performance as part of continuing efforts to rein in government underspending.
Jul 062015
THE GOVERNMENT is optimistic that one or two local technology start-ups can be put on a path to a $1-billion valuation, as it warms to the prospect of policies that will spur the industry’s growth.
Jul 062015
It is a well-settled principle that tax exemptions are construed strictly against taxpayers. Hence, tax refunds, which are considered as tax exemptions, are resolved strictly against the claimant. Under Section 229 of the Tax Code of 1997, as amended, any national internal revenue tax alleged to have been erroneously or illegally assessed or collected may be refunded within two years from the date of payment of the tax or penalty by filing a claim for refund or credit with the Commissioner of Internal Revenue (CIR).
Jul 052015
ECONOMIC GROWTH should remain strong in the coming months even without additional monetary stimulus as domestic liquidity remains sufficient and rates remain low, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. said last week.
Jul 052015
H&WB Asia Pacific (Pte Ltd) Corp. is in talks with power distributors for the output of its 700-megawatt (MW) coal-fired power plant in Camarines Norte, due to be constructed starting in 2017, the Energy department said.
Jul 052015
The Philippine and US governments are expected to soon sign the Inter-Government Agreement (IGA) which will provide guidance on how financial accounts of US persons should be reported to the US Internal Revenue Service (IRS) to comply with the Foreign Account Tax Compliance Act (FATCA). As Philippine financial institutions (FIs) await the signing and issuance of the IGA, they also need to prepare for the impact of the Common Reporting Standards or the CRS.
Jul 032015
THE Philippines has sufficient buffers to shield the local economy from negative capital flows in the wake of the Greek default, senior economic managers said on Friday, citing minimal trade with Greece and strong fundamentals.