THE NATIONAL Telecommunications Commission (NTC) will amend its memorandum on the minimum speed of broadband connections after concerned parties on a Senate inquiry on Sept. 16 sought for some changes in the terms, a senior official said.
Oct 192014
BusinessWorld Online: Economy
Oct 192014
THE MINING and metals sector in the Philippines is considered one of the key industries driving economic development and growth. Yet, it is also a sector that is constantly confronted with risks detrimental to the sector participants’ long-term profitability, and economic growth and sustainability. It is therefore important in strategic planning to anticipate and plan for these risks.
Oct 142014
MANILA — Seasonal rains are set to disrupt nickel mining in the Philippines for the next four months or so, crimping exports to top buyer China and stoking a shortfall in the global supply of ore.
Oct 142014
THE PHILIPPINES will temporarily stop issuing new licenses for new commercial fishing vessels and fishing gear for three years to conserve its fish stocks.
Oct 142014
THE SALE OF three state-owned power barges may fetch prices higher than the original bid of an interested company, a top official of the Power Sector Assets and Liabilities Management Corp. (PSALM) said.
Oct 132014
GOVERNMENT debt servicing declined by more than a third in August as a drop in principal payments offset a double-digit increase in interest payments during the month, data from the Bureau of the Treasury showed.
Oct 132014
ONE POTENTIAL mitigating measure for the looming power shortage goes down the drain after the government claimed that full availability of the 650-megawatt (MW) Malaya thermal power plant could not be assured for the summer months of next year.
Oct 132014
FAILURE to secure an Authority to Print (ATP) prior to the zero-rated transaction is fatal to the taxpayer’s claim for tax refund of input tax attributable to such zero-rated sales. In the recent case of Emerson Electric (Asia) Limited-ROHQ vs. Commissioner of Internal Revenue (CIR), the Court of Tax Appeals (CTA) ruled that to prove that a taxpayer is engaged in zero-rated sales, the duly registered invoices or receipts must be presented. This assumes that the proper ATP was secured prior to the transaction. If the ATP is not indicated in the invoices or receipts, the only way to verify whether the said invoices or receipts are duly registered is for the taxpayer to present its ATP issued by the Bureau of Internal Revenue (BIR). Without this proof, the invoices or receipts would have no probative value for the purpose of refund.
Oct 122014
STATE BORROWINGS dropped by more than 80% in August as domestic obligations plummeted and external liabilities stood flat during the period, data from the Bureau of the Treasury showed.
Oct 092014
TRAVELERS will soon be able to avail of flights between Manila and Ethiopia following the conclusion of air service talks between the two countries on Wednesday.