PNOC-EXPLORATION Corp. (PNOC-EC) targets the commercial operations of two compressed natural gas (CNG) refilling stations within next year, an official from the Energy department said in a recent interview.
Sep 242014
BusinessWorld Online: Economy
Sep 242014
CORN IMPORTERS were the latest to be featured in the Finance Department’s weekly Tax Watch advertisement, which listed the top companies which make up bulk of the inbound shipments.
Sep 242014
GIVEN the tax reform bill pending in Congress and an alleged revenue loss consequently looming upon the Bureau of Internal Revenue (BIR), the massive task of meeting tax revenue targets may become even more challenging for the tax bureau. Even without the tax reforms pushing through, the BIR is already experiencing difficulties in terms of enforcing existing tax laws as it continues to encounter implementation challenges. This is to be expected if the BIR is seen to continue to go beyond its quasi-legislative functions.
Sep 232014
THE COUNTRY’s general government (GG) debt as a percentage of the economy continued to improve in the first quarter of 2014, the Finance department yesterday said.
Sep 232014
TWO FOREIGN FIRMS have expressed interest to participate in the development of energy resources in the Philippines, the Department of Energy (DoE) said in a statement on Tuesday.
Sep 232014
EXPORTS of coconut oil from the Philippines, the world’s biggest supplier, more than doubled last month, boosted by delayed July shipments, an industry group said on Tuesday.
Sep 222014
PHILIPPINE borrowings from offshore sources slightly increased year-on-year in the first half as non-residents increased their holdings of Philippine bonds, the Bangko Sentral ng Pilipinas (BSP) yesterday reported.
Sep 222014
THE PHILIPPINES ranked 57th among 132 countries surveyed for household broadband penetration in 2013, a report by the United Nations (UN) Broadband Commission published yesterday showed, noting that only around 23 of 100 Filipino homes have access to broadband Internet.
Sep 222014
AT THE start of the year, the Bureau of Internal Revenue (BIR) issued Revenue Regulations No. (RR) 1-2014 and Revenue Memorandum Circular No. (RMC) 5-2014, which tackled the submission of the alphabetical list (alphalist) of employees and list of payees on income payments subject to creditable and final withholding taxes of all withholding agents. These issuances require that complete names of payees be specified in the alphalists. Using words such as “various payees” and “PCD nominees” where income payments and taxes withheld are lumped into one single amount shall not be allowed and failure to follow such prescribed format shall disqualify the related expenses from being deductible for income tax purposes.
Sep 212014
GOVERNMENT debt servicing dropped by a fourth in July as both principal and interest payments declined, data from the Bureau of the Treasury showed.