THE INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said an ongoing protest of truckers and custom brokers against an online terminal booking system has not adversely affected the operations of the Manila International Container Terminal (MICT).
Taxation will always be contentious. Many Filipino taxpayers still struggle to understand taxation and tax compliance; among them there has emerged the view that the Bureau of Internal Revenue’s (BIR) regulations and processes are far from ideal. So let’s examine the bold statement in the Bureau’s vision and mission — “The Bureau of Internal Revenue is an institution of service excellence and integrity. We collect taxes through just enforcement of tax laws for nation building and the upliftment of the lives of Filipinos.” That guiding principle informs Revenue Memorandum Order (RMO) No. 6-2016, which was issued prescribing the strategic plan of the BIR for 2016 to 2020.
THE BUREAU of Internal Revenue (BIR) may start issuing electronic taxpayer identification number (TIN) cards by end-June.
THE DEPARTMENT of Justice’s (DoJ) procurement panel has reset to March 22 the submission of bids for the P50.2-billion prison facility to be built via public-private partnership (PPP).
Debt planning and restructuring is a common mechanism to minimize taxable income by increasing deductions among different entities in a multinational group of companies. As interest on debt is generally a deductible expense of the payor and taxed in the hands of the payee, groups may create intercompany loans to place high levels of debt in high-tax countries, generate interest deductions in excess of actual third party interest rates, or fund the generation of tax-exempt income.
THE Joint Foreign Chambers of the Philippines (JFC) has listed a number of constraints that are hampering the manufacturing sector from sustaining the steady growth that it has experienced in the last five years.
THE GOVERNMENT has scheduled for May the pre-qualification round for the newly-rolled out P65.09-billion Light Rail Transit (LRT) Line 6 public-private partnership (PPP) project that will connect the cities of Bacoor and Dasmariñas in Cavite province.
INTERNET in the Philippines continues to feature high costs and slow download and upload speeds, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) said.
THE PHILIPPINE and Thai electric vehicle sectors yesterday announced the potential for trade links between the two countries, with Manila ready to export “bulky” vehicle parts as early as this year to take advantage of zero tariffs within the Association of Southeast Asian Nations (ASEAN) Economic Community.
POTENTIAL INVESTORS for the public-private partnership (PPP) contract to operate and maintain the Light Rail Line 2 (LRT-2) have one more month to prepare, after the Transportation department moved the auction date to April.