Economy – Page 158

Rethinking Tax: The shift to indirect tax

Economy

Mar 282016

For 2016, the Philippines’ national budget is around P3 trillion and the Bureau of Internal Revenue (BIR) is tasked to collect around P2 trillion. Out of the BIR’s total collection target, about P1.243 trillion is expected to come from income taxes. That is how important income taxes are for the country, accounting for around 41% of the national budget. It is interesting to note, however, that a lot of countries are now shifting their focus to indirect tax. The primary reasons behind the global shift to indirect tax are discussed in an article released by Grant Thornton International (Grant Thornton) entitled “Rethinking Tax: The shift to indirect tax,” and I would like to share this article with you.

Policy continuity seen as main risk for call center capital’

Economy

Mar 272016

THE PHILIPPINES is now the call center “capital” of the world, Moody’s Analytics said in a recent report, displacing India as Filipinos prove to be a better option for skilled workers in the business process outsourcing (BPO) industry, but faces a crucial government transition, with continuity of anti-corruption efforts hanging in the balance.

Anti-coal power sentiment misplaced, industry lobby says

Economy

Mar 272016

THE PHILIPPINES cannot afford to reduce the capacity of its coal-fired power plants, the Federation of Philippine Industries (FPI) said, as it described a call for “people power” action against these electricity sources as “misplaced.”

Forensic Data Analytics: More than just for fraud detection

Economy

Mar 272016

In the last few years, Forensic Data Analytics (FDA) has grown considerably in terms of technological advancement, enterprise adoption and maturing FDA deployment. FDA refers to the ability to collect and use data, both structured (e.g. general ledger or transaction data) and unstructured (e.g. e-mail, voice or free-text fields in a database), to detect, prevent, monitor or investigate potentially improper transactions, events or patterns of behavior related to misconduct, fraud and non-compliance issues. It is an advanced form of data mining that many of today’s companies are using not only to find patterns in otherwise overwhelmingly large datasets, but also to gain insights into the quantitative and statistical characteristics of their data.

Davao port bid submission delayed anew

Economy

Mar 232016

BID SUBMISSION for the P18.99-billion deal to modernize the Davao Sasa Port under the public-private partnership (PPP) scheme has been postponed again due to delays in securing approvals from government agencies.

New poverty indicator out in 2018

Economy

Mar 232016

THE PHILIPPINE Statistics Authority (PSA) is looking to release the country’s first official multidimensional poverty indicator in 2018.

Motorcycle sales surge 34% as of February

Economy

Mar 232016

MOTORCYCLE sales increased by 34% in the first two months of the year, an association of motorcycle manufacturers said, supporting optimism that its growth projection for 2016 would be exceeded.

Sin’ tax collection exceeds Jan.-Feb. goal

Economy

Mar 222016

THE GOVERNMENT continued to exceed its target collection of “sin” taxes in the first two months of the year, as producers released more tobacco and alcohol products onto the market.

Government to award seven more PPPs by June

Economy

Mar 222016

THE GOVERNMENT remains steadfast in awarding seven more public-private partnerships (PPP) before the next administration takes over, according to the PPP Center, despite the recent postponements in the bidding of such projects.

Implementation of rules for energy competitive bidding delayed

Economy

Mar 222016

THE ENERGY Regulatory Commission (ERC) has moved to April 30 the effectivity date of a resolution ordering distribution utilities to conduct a competitive selection process (CSP) when sourcing their power supply.

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