THREE line departments will issue a joint memorandum circular next week urging local government units (LGUs) to streamline their business permits & licensing system (BPLS) to three days in order to make the localities more attractive to commercial investments.
THE government’s plan to trim income tax rates is not expected to be inflationary, as increased purchasing power will prod companies to also raise volumes, keeping prices at bay while also spurring further growth, a senior central bank official said.
DAVAO CITY — The Davao Region office of the National Economic and Development Authority (NEDA) is aiming to complete the feasibility study for the planned Mindanao Railway System (MRS) by end-September this year following an order to prioritize the project.
OVER 18,000 outdated government regulations across several agencies are being reviewed for repeal, with the numbers expected to grow, the National Competitiveness Council (NCC) said.
THE mining industry said it expects local ore processing to be viable given the right incentives, allowing the country to capture more value from its mineral resources.
THE Subic Bay Metropolitan Authority (SBMA) booked P111.5 billion worth of newly-approved investment projects in the first seven months of the year, its highest for any comparable period since its establishment in 1992, owing to the P70.5 billion to be invested by Australasia Cold Storage Logistics Pty. Ltd. and AIA Airways Co.
DAVAO CITY — The mining industry will take center stage in Surigao City for the three-day Mindanao Business Conference that opens today, Aug. 24.
THE DEPARTMENT of Finance (DoF) is looking to remove the commercial functions of some government-owned and-controlled corporations (GOCCs) and will continue its privatization efforts in a bid to raise revenue.
THE Bureau of Customs (BoC) is far behind its P406-billion revenue target this year but catching up may be possible as anti-corruption efforts go into full swing, Commissioner Nicanor E. Faeldon said.
This should be a good year for Goodyear Philippines as it has finally secured the confirmation of the Supreme Court (SC) on its 6-year-old refund case involving erroneously remitted tax on dividends amounting to about P14 million. The SC ruled that gains from the redemption of preferred shares are exempt from Philippine income tax if the provisions of the tax treaty between the Philippines and the US are complied with. The tax treaty with the US provides that gains derived by a US resident from the sale of shares in a Philippine company shall only be taxable in the US if the Philippine company’s assets do not consist principally of real property. The gains should not be treated as dividends.