PRESIDENT Rodrigo R. Duterte’s plan to boost infrastructure spending will sustain robust growth in the construction sector and stimulate the economy further, BMI Research said in a report, helping dispel any “uncertainty” seen during the change of government.
BUREAU of Internal Revenue (BIR) Commissioner Caesar R. Dulay has ordered at least 66 revenue examiners to explain prolonged investigations on tax cases, with some stretching for nearly three years, well past the mandated six-month period.
THE Mindanao Business Council (MinBC) said it will seek to build on the island’s strengths in agriculture and expressed optimism it can overcome current hurdles like law and order and logistics, as it encouraged members of the US-ASEAN Business Council to set shop in the southern island.
THE tax reform package being prepared by the government will also carry a proposal to relax the deposit secrecy law, which would allow the Bureau of Internal Revenue (BIR) to look into bank accounts of suspected tax evaders.
THE Department of Finance (DoF) has tapped the Department of Information and Communications Technology (DICT) to set up business and citizen registries expected to be operational by year’s end to aid in streamlining service delivery and cut red tape.
On July 25, President Rodrigo R. Duterte delivered his first State of the Nation Address (SONA) as the 16th President of the Philippines, focusing on improved government services, tax reform, transportation, tourism and agriculture, and economic development, among others. Taking up the SONA agenda, Agriculture Secretary Emmanuel F. Piñol has said that he is tasked with accomplishing two things — to ensure that sufficient food for Filipinos; and to stop corruption within the agency. These objectives may be achieved with the help of Republic Act (RA) No. 10845, or the Anti-Agricultural Smuggling Act of 2016, signed by former President Benigno S. C. Aquino III on May 23, which primarily aims to boost the productivity of the agricultural sector and protect Filipino farmers and agricultural enterprises from illegal traders and importers.
THE Department of Finance (DoF) is studying the elimination of bid premiums in infrastructure contracts in order to address the backlog in public works projects.
THE Philippines is guaranteed of securing preferential trade arrangements with the United Kingdom (UK) even after the latter’s June 23 vote to leave the European Union (EU), the British envoy said on Tuesday.
EVEN though rail cars ordered for Metro Rail Transit Line 3 (MRT-3) will start to arrive this month, the government is still open to the possibility of extending the bid process for upgrades to the line, as requested by potential bidders.
THE Department of Agriculture (DA) said it will seek to break into the Russian market to benefit small-scale banana growers, starting with a trade fair in the eastern port city of Vladivostok.