THE PHILIPPINE Parts Maker Association expects local sales of vehicle parts and accessories to double to P240 billion by 2017 under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program.
Jan 192016
Jan 182016
THE PHILIPPINES could receive another credit rating upgrade in the next few weeks, the Finance department said, citing the economy’s relative insulation from negative overseas developments.
Jan 182016
THE PROPOSED law modernizing the Bureau of Customs (BoC) hurdled the Senate on third reading on Monday, with a bicameral session expected now that both of chambers have approved their versions of the bill.
Jan 182016
Does your company have an on-going tax assessment covering tax year 2012? If yes, then it is likely that you have already been asked to execute a waiver on the statute of limitations. Following the general three-year period to assess, Final Assessment Notice for taxable year 2012 must be made not later than April 15, 2016. Thus, since this is merely three months away, the Bureau of Internal Revenue (BIR) will normally ask the taxpayer to execute a waiver.
Jan 172016
THE GOVERNMENT has prepared its energy plans under the assumption of 6.5% gross domestic product (GDP) growth in the long term and an eye towards meeting the power requirements of such an economy.
Jan 172016
A DELEVERAGED economy, stable banking system and ample room to maneuver on monetary policy will keep the Philippines in a strong position even as portfolio investments are rocked by volatility, Department of Finance’s (DoF) chief economist said.
Jan 172016
After more than five years, the International Accounting Standards Board (IASB) has finally issued International Financial Reporting Standards (IFRS) 16, Leases, which is the new standard that will replace International Accounting Standards (IAS) 17, Leases. IFRS 16 was issued to address the criticisms surrounding IAS 17, primarily around the fact that many leases are off balance sheet, thereby making it difficult for users to get an accurate picture of an entity’s lease assets and liabilities; to compare companies that lease assets with those that buy assets; and to estimate the amount of off balance sheet obligations.
Jan 152016
DAVAO — The supply of power in Mindanao continues to be low due to the El Niño-spawned dry spell and the still unresolved right-of-way issues that isolate some hydropower sources.
Jan 152016
THE CONSORTIUM OF San Miguel Corp. (SMC) and Korea Water Resources Corp. (K Water) formally inked the concession agreement for the P24.4-billion Bulacan Bulk Water Supply Project with the Metropolitan Waterworks and Sewerage System (MWSS) on Friday.
Jan 152016
THE BOARD of Investments (BoI) has opened the Comprehensive Automotive Resurgence Strategy (CARS) program to existing and new car assemblers that intend to register their car model for one of three slots under the scheme.