DAVAO CITY — The commercial operation of the first 150-megawatt (MW) coal-fired power plant of Therma South, Inc. (TSI), targeted this month, could be delayed following the Mindanao-wide blackout last Sunday, for which the cause has not yet been determined.
THE GOVERNMENT is moving forward with an auction for unused natural gas stored at the Malampaya gas reservoir next week, an Energy official announced yesterday.
It’s crunch time for taxpayers as the April 15 deadline looms. At such a critical juncture, no one can afford to have his tax return rejected because of failure to properly use the electronic Bureau of Internal Revenue Forms (eBIRForm). It appears that, up to this point, the guidelines for filing income tax returns (ITR) for calendar year 2014 are still not crystal clear to many taxpayers. Although the Bureau of Internal Revenue (BIR) has released issuances and publications about the eBIRForms package, the rules and information provided can be confusing especially as the guidelines are frequently amended.
THE REHABILITATION of Angat Dam in Bulacan is expected to move forward in June, with Korea Water Resources Corp. (K-water) taking the lead in implementing the project.
AYALA CORP. may participate in the auction to upgrade the Ninoy Aquino International Airport (NAIA), but said it will not bid for the upgrade, operations and maintenance (O&M) contracts for five regional airports, worth a combined P108.19 billion, a senior company official said last week.
National tax laws are struggling to keep pace with the rise of the digital economy and the progress of multinational companies. These factors leave gaps that are susceptible to misuse and lead to cases of double non-taxation, which undermine the integrity and fairness of tax systems around the world. The Base Erosion and Profit Shifting (“BEPS”) Project seeks to address this problem through measures that focus on three core principles — coherence, substance and transparency — and will result in fundamental changes in international tax standards.
INDIAN PHARMACEUTICAL companies have been invited to establish research and manufacturing operations in the Philippines by the Philippine Chamber of Commerce and Industry (PCCI), ahead of Southeast Asian economic integration.
THE COMMISSIONER of Internal Revenue yesterday rejected a request from tax managers to defer penalties on taxpayers who fail to submit returns electronically, saying sufficient time has been given to comply with the rules.
AN INTERNATIONAL telecommunications consortium has started building a $250-million submarine cable system that will directly connect Southeast Asia and the US, Globe Telecom, Inc., which is part of the group, said on Wednesday.
CONGLOMERATE Ayala Corp. (AC), is finalizing plans for infrastructure and power projects it plans to pursue in 2016-2020, with major public-private partnership (PPP) contracts on its radar and wind and coal-fired plants possibly doubling the capacity of its generating assets, officials said.