LEGISLATING a fuel mix policy for the country will not work, a lawmaker said, pointing out that market demand should set the direction for the energy industry that might end up confined to inflexible regulation.
May 192016
May 182016
THE ENERGY Regulatory Commission (ERC) will issue this week rules imposing restrictions on the operations of distribution utilities and retail electricity suppliers (RES) in the competitive retail electricity market, its chairman said on Wednesday.
May 182016
STATE BORROWING posted a minimal increase in February from a year ago, data from the Bureau of the Treasury showed, reflecting the government’s issuance of dollar debt.
May 182016
With the determination to fulfill its mandate even in the midst of challenges, the Bureau of Internal Revenue (BIR) has come up with a strategic plan that is designed to help the organization achieve its vision to be an institution of service excellence and integrity. This strategic plan will serve as the BIR’s roadmap for the next five years (i.e., 2016-2020) and aims to achieve seven high-level strategic objectives, namely: attain collection targets and sustain collection growth; improve taxpayer satisfaction and compliance; strengthen good governance; improve assistance and enforcement; build and deploy information technology systems, processes and tools; improve integrity, competence, professionalism and satisfaction of human resources; and optimize management resources. These seven overarching objectives shall support the BIR’s goal of improving services to taxpayers to increase voluntary compliance and of enforcing the laws for those who do not comply.
May 172016
THE CURRENT slump in oil prices offers a “great opportunity” to increase the taxes imposed on petroleum products, said a top industry official, who also pointed out that the expanded tax collection could fund projects including infrastructure.
May 172016
A JOINT DEPARTMENT Administrative Order was issued yesterday for the implementation of the Co-Loading Act or Republic Act No. (RA) 10668, also known as the amended Cabotage Law.
May 172016
DAVAO CITY — Homegrown businesses expect more investors to start considering Davao City following the as-yet unofficial victory of Mayor Rodrigo R. Duterte in this year’s presidential election. At the same time they expressed confidence his administration will deliver continued economic growth nationwide.
May 162016
THE SUPREME COURT (SC) denied a petition seeking to publicly disclose minutes of a meeting that recommended the lifting of a suspension of a tariff cut on plastic products.
May 162016
THE PHILIPPINE economy would likely grow above 6% this year and in the near term, falling short of the low end of official targets this year, but is still poised to be one of the region’s fastest, an economist at a Swiss private bank said in a recent interview.
May 162016
Now that the annual tax filing season is over, it is about time to revisit your tax planning strategy for the next year. This becomes more relevant since the deadline for the first quarter income tax return is fast approaching. Tax planning involves weighing various tax options to determine the most beneficial way to conduct a business. One should bear in mind that tax planning aims not only to save on taxes but also to reduce or eliminate tax exposures during tax examinations. These days, the Bureau of Internal Revenue (BIR) is very aggressive in its campaign to increase collections, and it is crucial to employ the right tax planning strategies.