BusinessWorld Online: Economy

Points to keep in mind when computing for corporate life

Economy

Apr 292015

THE LAW defines a corporation as an artificial being created by operation of law having the rights, powers, attributes and properties expressly authorized by law or incident to its existence. The very law which gives its life also dictates its demise by giving it a maximum period of 50 years unless shortened or extended. The corporate term is required to be expressly indicated in the corporation’s Articles of Incorporation (AOI) and may be shorter but may not be more than 50 years at any given time. It may, however, be extended several times.

No power outages point to growth upside — economist

Economy

Apr 282015

THE START of the second quarter without a power crisis is a positive signal for Philippine growth and inflation prospects, a Citi economist said in a research note, although this could also mean demand for power has declined.

3,000 MW for MGen within reach — Pangilinan

Economy

Apr 282015

WITH THREE major projects in the pipeline, the power generation subsidiary of Manila Electric Co. (Meralco) said it expects to build a 3,000-megawatt (MW) portfolio.

Power projects under evaluation worth an extra 5,000 megawatts

Economy

Apr 282015

NINETEEN COMPANIES have secured clearance to conduct studies for power plant projects in the first quarter, allowing the firms to move forward with one of the key preparations prior to the construction stage.

ERC to announce reduced FIT rate for solar soon

Economy

Apr 272015

THE ENERGY Regulatory Commission (ERC) will soon order the adoption of a lower rate for solar power projects that will be applied under the feed-in tariff (FIT) scheme.

‘Long pause’ in tightening to run until 2016, FMIC, UA&P say

Economy

Apr 272015

THE MONETARY Board (MB) will likely keep policy settings unchanged throughout 2015 as inflation remains well-anchored and liquidity growth has eased compared to last year’s levels, First Metro Investments Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in a joint report.

A trouble-free tax system for the taxpayers?

Economy

Apr 272015

Complying with the April 15 deadline for the filing of income tax returns (ITRs) proved to be more difficult and more complicated in 2015. In recent years, the Bureau of Internal Revenue (BIR) had changed the ITR forms, causing confusion among taxpayers. And then the agency introduced new programs to improve tax collection that, unfortunately, have not been properly implemented.

Eastern Visayas clears felled coconut logs to prevent rhinoceros beetle infestation

Economy

Apr 262015

TACLOBAN CITY — Government crews are rushing to clear about four million coconut trees in Leyte and Samar provinces which were damaged by super-typhoon Yolanda (international name Haiyan) in order to prevent the rhinoceros beetle from taking hold and attacking surviving trees.

Geothermal project taps Icelandic drilling firm

Economy

Apr 262015

EMERGING POWER, Inc. (EPI) has tapped a company from Iceland to conduct drilling works for its planned 40-megawatt (MW) geothermal project in Oriental Mindoro.

Training expenses: To claim or not to claim in full?

Economy

Apr 262015

The work force is vital to any company’s success. This is one reason why most companies, especially those in the service industry, make significant investments in the training and development of their people. In the case of a business process outsourcing (BPO) company, well-trained employees allow it to deliver excellent service to its clients worldwide. However, for BPO companies in the Philippines that are registered with the Philippine Economic Zone Authority (PEZA) and avail the 5% gross income tax (GIT) incentive, the deductibility of the training expenses as part of direct cost from the 5% GIT has not been clearly addressed by the Bureau of Internal Revenue (BIR).

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