(First of two parts) IN THIS INSTALLMENT of our series on the Base Erosion and Profit Shifting (BEPS) initiatives of the Organization for Economic Co-operation and Development (OECD), we will tackle Action Plan 8 on the revisions to Chapters I, II and VI of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (2010) (the “2010 OECD TP Guidelines”), which addressed a number of transfer pricing issues on intangibles, namely:
BUDGET CARRIER Cebu Pacific Air has sought regulatory approval to acquire rival Philippine Airlines, Inc.’s (PAL) unutilized seat entitlements to Australia, after seeing “encouraging growth” on its Manila-Sydney route.
INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said it upgraded the capability of its Manila and Subic operations with new container handling equipment, in response to the growth in Luzon shipping volumes.
DAVAO CITY — Felcris Hotels and Resorts Corp., originally a home-grown supermarket operator, has opened the commercial and office components of its biggest real estate project, Felcris Centrale, with construction of the residential component scheduled to start this year.
THE GOVERNMENT wants to release detailed data on other renewable energy resources apart from wind to spur their development and utilization, an official said on Wednesday.
THE TRANSPORTATION department said it is still hoping to submit for approval a train stop on 32nd Avenue of Bonifacio Global City (BGC), noting some right-of-way advantages even though a station on 26th Avenue won favor with a government panel by promising savings of some P20 billion.
CONGESTION at the Port of Manila’s container yards will continue to tail off by the end of the month amid an expected slowdown in activity over the Lunar New Year, the chief of the Philippine Ports Authority (PPA) said on Thursday.
THE BIGGEST railway project of the government so far is expected to start commercial operations in 2020, after its public-private partnership (PPP) component on Monday secured final approval from the National Economic and Development Authority (NEDA) Board, a Cabinet official said on Tuesday.
PROCUREMENT processes in the Philippines still need further improvement even as agencies have significantly reformed bidding processes, Budget Secretary Florencio B. Abad and European Ambassador Guy Ledoux said yesterday at a forum.
BUDGET SECRETARY Florencio B. Abad yesterday said he has signed the budget call to government departments for next year’s spending plan, initiating the process of putting together the 2016 national budget.