(Second of two parts) In last week’s column, we started our discussion on Base Erosion and Profit Shifting (BEPS) Action Plan 10, which seeks to align transfer pricing outcomes to value creation by providing protection to payor-countries against base-eroding payments and prescribing additional rules on the applicability of the profit split method.
DAVAO CITY — More international tourists are expected to consider the Davao Region as a holiday destination with the relaunch of budget carrier Cebu Pacific’s flights between Davao City and Singapore beginning Dec. 17.
MANILA ELECTRIC Co. (Meralco) said it is looking to bring its prepaid retail electricity service to densely populated areas outside Metro Manila, including provinces as far south as Quezon.
MOODY’S Investors Service has set a “stable” outlook for the power sector of the Philippine and eight other Asia-Pacific countries Australia, China, Hong Kong, Indonesia, South Korea, Malaysia, Singapore and Thailand.
THE EUROPEAN Chamber of Commerce of the Philippines (ECCP) will next year look at expanding its membership base in Europe as well as in the Philippines amid the growing number of companies from both sides that are planning to expand.
DAVAO CITY — A lack of ready-to-use facilities for industrial locators is dampening this rapidly urbanizing city’s potential to bring in more growth, according to an official of real estate services firm Jones Lang LaSalle (JLL).
More than a decade ago, a taxpayer could expect only one tax investigation by the Bureau of Internal Revenue (BIR) in a given year, and seldom for two successive years. But now, a taxpayer can be investigated up to three times in the same year: first, under a normal tax audit (i.e., covering all taxes); second, under a value-added tax (VAT) audit; and third, under a Letter Notice audit (which is based on discrepancies arising from the computerized matching of data between the taxpayer’s records and its customers and suppliers).
COUNTRIES that describe themselves most vulnerable to climate change have issued a collective declaration calling for zero emissions and 100% adoption of renewable energy by mid-century.
DAVAO CITY — The government needs to make investments totaling P484 billion for the sustainable development of 18 major river basins, including updating individual master plans in consideration of climate change factors.
TEN out of 12 parties that expressed initial interest in the disposal of the Sucat Thermal Power Plant’s assets attended a pre-bid conference on Friday, the agency in charge of power industry privatization said.