REPAIR work on Ninoy Aquino International Airport Terminal 3 (NAIA-3) is set to finish next month, the Transportation department said in a statement yesterday.
Jun 112014
BusinessWorld Online: Economy
Jun 112014
CEBU/ILOILO — Rolling power outages hit Iloilo City after an 82-megawatt (MW) generating unit was shut down due to a boiler tube leak, highlighting the need for additional base load plants to boost energy reserves in the Visayas.
Jun 112014
IN CLAIMING a refund of unutilized input value added tax (VAT) that is attributable to zero-rated sales, it is imperative to prove that the billing documents are duly registered with the Bureau of Internal Revenue (BIR) at the time of the sale transaction. In a recent case, the Court of Tax Appeals (CTA) held that the absence of such proof was fatal to the VAT refund claim.
Jun 102014
THE DEPARTMENT of Budget and Management (DBM) has released an initial P400 million to back government efforts to address a coconut scale insect epidemic affecting several provinces.
Jun 102014
MANILA — The Philippines has reduced its sugar stocks for exports by 90,000 metric tons (MT), or a third of the allocation for world markets for the 2013/14 crop year, to boost domestic supply and arrest further local price increases, the industry regulator said.
Jun 102014
DAVAO CITY — The Mindanao business sector is pushing for the creation of a state-run company independent from National Power Corp. to manage the Agus and Pulangi hydropower complexes.
Jun 092014
THE PRESIDENTIAL Assistant for Food Security and Agricultural Modernization (PAFSAM) has said that the government is to spend P750 million to address the coconut scale insect epidemic that has already damaged 1.5 million trees in Calabarzon and Basilan.
Jun 092014
THE GOVERNMENT’S share in the earnings of government-owned and -controlled corporations (GOCCs) last year is some P32.31 billion.
Jun 092014
THE KEY in determining the taxability of a transaction is to know the nature of said transaction. This is definitely important in determining the taxability of a lease. A finance lease should be differentiated from an operating lease. Recently, the Bureau of Internal Revenue (BIR) clarified that a finance lease is subject to documentary stamp tax (DST) as a loan transaction instead of a lease transaction.
Jun 082014
SUBSIDIES given to state firms declined in April from a year ago, data from the Bureau of the Treasury showed.