A KEY economic manager of the Duterte administration has made the case for the removal of tax exemptions for senior citizens, particularly the value-added tax (VAT), as the Finance department readies a final draft of a tax reform package for submission to Congress next month.
Our era is characterized by ever-changing technological advancement. Technology has touched our human existence including the way we educate ourselves, the way we deal and communicate, and the way we travel from one place to another. It has affected our interactions with one another such as shopping and socializing. From a business perspective, technology continues to play a vital role on how entities conduct their operation and maintain their competitive advantage.
THE DUTERTE GOVERNMENT is eyeing to reduce unemployment to as low as 4% by 2022, Socioeconomic Planning Chief Ernesto M. Pernia said, while noting that greater focus will be given to bringing down cases of job mismatch by ensuring better quality jobs.
A FREE TRADE agreement with the United Kingdom (UK) would be a “welcome development” for the Philippines as UK’s planned divorce from the European Union (EU) might make it “more generous” to future trade partners, the president of the Philippine Exporters Confederation, Inc. (Philexport) said.
As the new academic year begins, a welcome development is the recent announcement that the Bureau of Internal Revenue (BIR) has relaxed the ruling requirements for the tax exemption of non-stock, non-profit schools. The new BIR Commissioner Caesar A. Dulay issued Revenue Memorandum Order (RMO) No. 44-2016 dated July 25, 2016, which seeks to exclude non-stock, non-profit educational institutions from the coverage of RMO 20-2013, which requires the filing of an application for Tax Exemption Ruling (TER) by all tax-exempt entities, including non-stock, non-profit schools.
AGRICULTURE Secretary Emmanuel F. Piñol said he was “unhappy” with the lower than requested budget for the Department of Agriculture (DA), particularly its rice sufficiency program, but added, “it was the amount approved, I have to work with it.”
DAVAO CITY — A review of mining industry policies and stronger agricultural support are among the items in a wish list contained in a resolution drafted by the business sector at the Mindanao Business Conference (MinBizCon) that ended yesterday in Surigao City.
PHILIPPINE Solar Power Alliance (PSPA) said the payment system for solar rooftop owners who are participating in the net metering scheme is contrary to the spirit of the Renewable Energy Law and its implementing rules and regulation.
THE DEPARTMENT of Agriculture (DA) is looking at a “positive” growth for the country’s agriculture in the second half of the year after the contraction seen at end-June, as the office’s head pitched legislative priorities for the sector before the House of Representatives yesterday.
THE CHIEF of the Mines and Geosciences Bureau (MGB) said the 2012 executive order (EO) that detailed changes to the country’s mining policy and effectively stalled the issuance of new permits, is not necessary.