THE National Irrigation Administration (NIA) plans to put up more hydropower projects on existing irrigation systems to boost its income and help augment power supply in the countryside.
May 182017
May 172017
THE PHILIPPINES is expected to emerge as one of the fastest-growing construction markets over the next five years, analysts at BMI Research said, amid fresh funding from Asian neighbors that will propel the government’s aggressive infrastructure push.
May 172017
MANILA ELECTRIC Co. (Meralco) said its joint venture company Pure Meridian Hydropower Corp. had broken ground in Lalawinan, Quezon province for a 3-megawatt (MW) run-of-river mini-hydropower plant.
May 172017
Another income tax filing season is over and the post-filing period is an opportune time to do housekeeping on accounting documents and records. Also, this gives us breathing room for updates on the latest tax issuances of the Bureau of Internal Revenue (BIR). One issuance that caught my attention recently is the BIR’s Revenue Memorandum Order No. (RMO) 8-2017 which will take effect on June 26, 2017. This amended the previous RMO (72-2010), which prescribes the guidelines and processes for tax treaty relief applications (TTRA). Compliance with the previous RMO was challenging to most taxpayers as it requires filing the TTRA and supporting documents with the BIR before the transaction (i.e. first taxable event). Under the RMO, failure to file the TTRA prevents taxpayers from claiming relief under the tax treaty.
May 162017
MACAU — The Philippines has a long way to go before matching Macau as a gaming and entertainment hub, but analysts said the country is making the right moves in building significant momentum for the industry’s growth.
May 162017
THE Philippine economy likely expanded by at least 7% during the first quarter due to the rebound in exports and farm output, analysts at First Metro Investment Corp. (FMIC) said yesterday, placing the country on track to achieve the government’s growth goal for the year.
May 162017
CHINA is purchasing more agricultural products worth as much as $200 million annually from farmers in former conflict areas in Mindanao.
May 152017
CABINET officials rejected claims that Chinese funding for infrastructure will burden the economy with too much debt, saying that tax reform will help the Philippines raise the bulk of the needed funds internally.
May 152017
THE PHILIPPINES and Mongolia have agreed to improve their ties in the areas of agriculture, tourism, trade and finance.
May 152017
Change is inevitable, and whether we like it or not, we have to adapt and learn to handle changes that come our way. The same goes for taxation, one area of the law that is constantly in flux. The changes in taxation are not limited to the proposed reform of income tax rates or fuel and auto taxes but these can also be seen in the procedures of the Bureau of Internal Revenue (BIR). Tax rulings, in particular, have seen significant changes throughout the years.