THE BUREAU of Customs (BoC) failed to meet its collection target in August, missing by over 25%, as the continued weakness in oil prices weighed on import valuations.
Sep 212015
Sep 212015
SOCIOECONOMIC Planning Secretary Arsenio M. Balisacan cautioned lawmakers on Monday against approving a proposal to cut income taxes, citing the importance of finding new funds for the government’s development efforts.
Sep 202015
OFFICIAL development assistance (ODA) increased substantially between 2000 and 2014, according to the MDG (Millennium Development Goal) Gap Task Force Report 2015, though it added that ODA to least-developed countries (LDCs) dropped in the recent years.
Sep 202015
THE NATIONAL Economic and Development Authority (NEDA) said it has no immediate plans to include illicit trade in the computation of gross domestic product (GDP), citing more pressing issues in improving the quality of the economic indicator.
Sep 202015
On July 13, 2015, the Philippines signed a reciprocal Intergovernmental Agreement (IGA) with the United States to implement the provisions of the Foreign Account Tax Compliance Act (FATCA). Signed into law in 2010 by US President Barack Obama as part of the US Hiring Incentives to Restore Employment (HIRE) Act, the FATCA aims to obtain information on US persons with offshore income and/or assets to increase compliance with US tax laws.
Sep 172015
THE ENVIRONMENT department has asked the Department of Energy (DoE) to stop granting permits for new coal-fired plants, in order to reduce emissions and cut the country’s dependence on coal.
Sep 172015
ILOILO CITY — The provincial government of Iloilo is pitching two towns to the Philippine Economic Zone Authority (PEZA) as the sites of special economic zones targeting manufacturing, agri-industrial and other concerns outside the capital city.
Sep 172015
DEPARTMENT OF TRADE and Industry (DTI) Secretary Gregory L. Domingo yesterday said the Philippines’ average economic growth may exceed 6.5% over the next 10 years, helped by the European Union-Generalized Scheme of Preferences Plus (EU-GSP+), a recovery in exports, and the entry of foreign manufacturers.
Sep 162015
THE DEPARTMENT of Public Works and Highways (DPWH) said the government is saving up to P300 billion worth of infrastructure costs which have been shouldered by the private sector under the public-private partnership (PPP) program.
Sep 162015
GOVERNMENTS should build regulatory frameworks and implement direct measures that will allow everyone to access financial services by 2030, the United Nations (UN) said.