THE FINANCE department said the comprehensive tax reform program’s net impact will be “muted,” costing households less than P5,000 a year on average.
Jun 132017
Jun 132017
THE Department of Information and Communications Technology (DICT) is pressing President Rodrigo R. Duterte for an executive order (EO) “urging” government agencies to transfer all their data and systems to the department.
Jun 132017
THE GOVERNMENT is spending P3 billion to provide free internet access with a target of 13,000 sites nationwide this year.
Jun 122017
THE UNITED STATES is considering a new aid package for the Philippines, withheld over human rights concerns late last year, but a clear offer has yet to be made, the Department of Finance (DoF) said.
Jun 122017
THE National Renewable Energy Board (NREB) aims next month to endorse to the Department of Energy (DoE) the long-delayed rules on renewable portfolio standards (RPS), which will require distribution utilities and other industry participants to source a portion of their power supply from eligible renewable energy resources.
Jun 122017
While waiting for the proposed tax reform to be enacted into law, I often tend to daydream about what I am going to do with the extra money I’ll get from my take-home pay. Should I start investing in a house and lot for my family? That would be a great investment; but then, I was suddenly reminded of how much I currently have in my bank account which is not even close to half the down payment I’ll need to make. And as the bitter reality struck me, I thought of reconsidering my top priorities — at least for now.
Jun 112017
FINANCE Secretary Carlos G. Dominguez III said that he will raise the matter of greater participation by the China-led Asian Infrastructure Investment Bank (AIIB) during its annual meeting in South Korea this week, noting that the bank has chosen to only engage in partial financing for its projects.
Jun 112017
THE ECONOMY may sustain the economic growth momentum of 2016, with forecasts by multilateral lenders expected to be achieved amid a global wave of rising trade, the government’s chief economic planner said.
Jun 112017
On Nov. 15, 2016, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 127-2016, which lifted the suspension of revenue issuances previously suspended under RMC No. 69-2016. One of these issuances is RMC No. 62-2016 (Circular), dated June 13, 2016, which clarifies the proper tax treatment of “passed-on” Gross Receipts Tax (GRT). GRT is a form of percentage tax, which is defined as a business tax imposed on persons or on entities that sell or lease goods or services in the course of trade or business in the Philippines.
Jun 092017
MERCHANDISE EXPORTS grew for the fifth straight month in April, the government reported on Friday, amid a recovery in demand abroad.