THE PHILIPPINES has the unfortunate reputation of imposing high tax rates, especially in comparison with our neighbors within the Association of Southeast Asian Nations. The 30% corporate income tax and 32% maximum income tax on individuals imposed under our National Internal Revenue Code (or Tax Code) are among the highest in the region.
AMID CALLS from business groups to hasten the passage of amendments to the decades-old Build-Operate-Transfer (BOT) Law, a House leader said the proposal may secure congressional approval by June.
THE GOVERNMENT has commenced with the second-round auction for the contract to supply the first 3,000 tricycles powered by electricity, the Energy department announced yesterday.
THE TRANSPORTATION department has once more opened up for bids the P50-million contract for consulting services in connection with the rehabilitation and capacity expansion of Metro Manila’s most-congested elevated railway system.
REGULATORS have further extended the temporary price ceiling for the power traded at the Wholesale Electricity Spot Market (WESM) as they buy more time to work on permanent measures to shield consumers from price volatility.
A HOUSE committee reworking the decades-old Build-Operate-Transfer (BOT) law heard testimony last week on the need to better address the needs of Public-Private Partnership (PPP) investors, including mechanisms to bypass delays in the bid process and proposals from business groups to institutionalize the PPP Center.
DAVAO CITY — Expropriation proceedings are now under way in some parts of Davao Region to resolve right-of-way issues that have been hampering several road projects leading to tourist destinations.
THERE IS no question that everyone welcomes payday, which is when all of us are sure to have at least some resources to pay for our needs and desires. What isn’t often realized is that the government has paydays of its own, in the form of tax collections. It is these funds that pay for public goods and services which, in theory, help improve the people’s quality of life.
THE BUREAU of Internal Revenue (BIR) plans to implement an alcohol tax stamp later this year, Commissioner Kim S. Jacinto-Henares said last week.
THE PHILIPPINE Ports Authority (PPA) has declared congestion to no longer be an issue at the Port of Manila, with the clearing up of crowded docks coming weeks ahead of schedule.