THE Employers Confederation of the Philippines (ECoP) said small firms should be excluded from a proposed bill granting additional leave to employees, saying the reduction of working days may affect productivity and raise the cost of doing business.
THE METRO PACIFIC group is open to participating in the bidding should the government decide to privatize the operations and maintenance (O&M) of Light Rail Transit (LRT)-2.
THE gaming regulator is still confident of meeting its revenue targets, despite the attack on Resorts World Manila.
The House of Representatives passed on third and final reading what it calls the “Tax Reform for Acceleration and Inclusion” (TRAIN) Act. Unless the Senate makes amendments, it may be only a matter of time before we finally see the proposed tax reform approved into law. Thus, aside from the initial excitement created by the lower personal income taxes, it may be prudent to check on other provisions of the proposed bill.
SAN MIGUEL Corp. (SMC) is open to submitting a proposal to rehabilitate the Metro Rail Transit Line 3 (MRT-3) should the government decide to pursue that plan.
LOCAL GOVERNMENT units (LGUs) will receive almost P36 billion more as their share of national taxes next year, the Department of Budget and Management (DBM) said in a memorandum dated June 2.
In 1997, the International Accounting Standards Board’s predecessor first set up a steering committee to carry out initial work on what was then called the “Insurance project,” and nobody expected that it would take 20 years to publish the final result. With the issuance of the new insurance accounting standard called International Financial Reporting Standards (IFRS) 17, Insurance Contracts, the Board closes a long and eventful journey to define the basic objectives, accounting principles and reporting guidelines for insurance contracts. IFRS 17 was on May 18, and will become effective for annual reporting periods beginning on or after Jan. 1, 2021. Early application is permitted provided that IFRS 9, Financial Instruments, and IFRS 15, Revenue from Contracts with Customers, are also applied.
THE PHILIPPINES recently sealed a new air service agreement with Qatar that added more flights to the route and a commitment from Doha to mount direct flights from Davao.
FINANCE Secretary Carlos G. Dominguez III said perks given to Real Estate Investment Trusts (REIT) may not be generating an adequate return for the government, and added that the incentives given to the sector are under review.
THE PPP CENTER has asked the National Economic and Development Authority (NEDA) to come up with guidelines for assessing the best mode to implement infrastructure projects after the government said it favors “hybrid” methods of financing projects instead of public-private partnerships (PPPs).