Maniolas

More tariff-free ICT products Philippines sees huge benefits from new WTO deal MANILA, Philippines – The Philippines is poised to benefit substantially from a tariff free trade of information and communication (ICT) products following a landmark expansion of the Information Technology Agreement (ITA). A group of 53 WTO members, including the Philippines, finalized the agreement to expand the product coverage of the ITA last Dec. 17 during the 10th WTO Ministerial Conference in Nairobi, Kenya. The Department of Trade and Industry (DTI) said the agreement now covers the elimination of tariffs for new generation semi-conductors, global positioning system (GPS) navigation equipment, and medical equipment such as magnetic resonance imaging products and ultra-sonic scanning apparatus.  Trade Secretary Gregory Domingo said the ITA expansion represents a huge step forward for innovation and economic growth globally. “It will deliver huge benefits to the Philippines in terms of improved productivity and market access, particularly for the electronics and semiconductor industry. The agreement makes our country more attractive to potential foreign direct investments particularly from key ICT players such as US, Japan, and EU,” Domingo said. The 201 products covered by the expanded ITA have  annual trade worth over $1.3 trillion, and currently account for about 10 percent of total global trade. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Under the terms of the agreement, the DTI said the 53 WTO member-participants agreed to reduce tariffs on covered goods beginning July 1 next year, with around 65 percent of these tariff lines eliminated Read More …

THE PROPOSED law which will create a Department of Information and Communication Technology (DICT), a priority measure, will soon make its way to Malacañang after the Senate fell in line with the House of Representatives version of the bill, thereby eliminating any need for a bicameral conference committee.

If you’re one of the estimated 39.7 million employees in the Philippines, perhaps by now, you may have already received an e-mail or a memo from your employer asking or confirming whether you are qualified for substituted tax filing of your Annual Income Tax Return (BIR Form 1700) for calendar year 2015. Since the Philippines follows the Pay As You Earn (PAYE) system for employee’s tax, and is carried out through the withholding tax mechanism, the local employer is constituted as the withholding agent of the Bureau of Internal Revenue (BIR). As such, it is responsible to withhold and remit taxes on the Philippine-source compensation income of its employees to the BIR, irrespective of the place of payment of the compensation.

DAVAO CITY — The city council passed a resolution on Dec. 14 objecting to the modernization plan for Sasa Port under the public-private partnership (PPP) program, citing the Department of Transportation and Communications’ (DoTC) failure to seek the local government’s endorsement.

Rolls-Royce Manila’s Willy Tee Ten, the author, her husband and Aerohub’s David Cook If you had to sit in traffic or travel great distances, wouldn’t you rather do that while sitting comfortably in a luxurious Rolls-Royce? Or why not skip the traffic and travel time by taking a helicopter? But let’s address the most important question first—how can you get a Rolls-Royce or a helicopter? The straightforward answer would be, earn millions of pesos and then go to a Rolls-Royce and a helicopter dealership. But an alternative solution is now available—one that is easier, more achievable and more practical. Last December 10, Aerohub Aviation Services together with Autohub Group of Companies, introduced their Fractional Ownership Program for Robinson’s helicopters and Rolls-Royce cars. Aerohub has an alliance with Lionair Inc., the exclusive distributor of California Corporation Robinson Helicopter Company. The Fractional Ownership Program (FOP) is the first of its kind in the Philippines. It offers the ability to acquire partial ownership of a Rolls-Royce car and/or a Robinson helicopter (R44s and, soon, R66s). A maximum of five individuals can share the ownership of one helicopter or a Rolls-Royce car, for personal or commercial use. Autohub Group president Willy Tee Ten explained that the FOP’s collective ownership arrangement enables owners to enjoy all the benefits of owning a helicopter or a Rolls-Royce, without the hassles that such type of ownership usually entail. Owners won’t have to worry about the pilots/drivers, hangar arrangements/parking, flight route, servicing and maintenance of the aircraft/vehicle. Aerohub and Read More …