THE Department of Environment and Natural Resources (DENR) has required all mining firms to comply with the tax payment disclosure requirements of the Philippine Extractive Industries Transparency Initiative (PH-EITI).
May 012017
May 012017
Since the passage of Republic Act (RA) 10754, An Act Expanding the Benefits and Privileges of Persons With Disability (PWDs), it is only now that disabled members of society will be fully enjoying the benefits granted by this law. Revenue Regulations No. 5-2017 were approved by the Secretary of Finance upon the recommendation of the Bureau of Internal Revenue (BIR) on April 20. The regulations prescribe the guidelines for the availment and implementation of the 20% discount and the additional exemption as dependents for personal income tax purposes.
Apr 302017
DAVAO CITY — Businesses said the Davao-General Santos-Bitung (Indonesia) roll-on roll-off (RoRo) cargo service launched yesterday will serve as a major economic boost to Mindanao and promised to expand trade with Indonesia to ensure the sustainability of the cargo service.
Apr 302017
AMENDMENTS to bank laws and the coconut levy bill have been identified as some of the Senate’s priorities in the upcoming session.
Apr 302017
(Second of two parts)In last week’s article, we discussed the revised procedure to avail of tax treaty benefits for dividend, interest, and royalty payments under Revenue Memorandum Order (RMO) No. 8-2017. Under the amended rules, a tax treaty relief application (TTRA) is no longer required and withholding agents can automatically apply the preferential tax treatment — lower tax rate or exemption — on such payments upon receiving the Certificate of Residence for Tax Treaty Relief (CORTT) Form from the non-resident.
Apr 282017
THE PHILIPPINE ECONOMY can be expected to grow faster than initially projected on the added boost of an export recovery that, nevertheless, may taper off Asia-wide next year, Nomura Group said in a report e-mailed to journalists on Friday.
Apr 272017
NATIONAL GRID Corp. of the Philippines (NGCP) said it submitted to the Energy Regulatory Commission (ERC) on Thursday its project proposal for interconnecting the Mindanao and Visayas power grids.
Apr 272017
SLOWER GOVERNMENT spending seen in the first quarter point to moderating growth pace during the period, an economist at ING Bank N.V. Manila said, although a pickup in disbursements later this year could steer the growth path closer to the government’s target.
Apr 272017
THE Department of Transportation (DoTr) is investigating the suitability of Metro Rail Transit (MRT) coaches supplied by China’s CNR Dalian Locomotive and Rolling Stock Co. Ltd.
Apr 262017
THE Mines and Geosciences Bureau (MGB) said it is targeting to complete by the end of the year an audit of all miners’ compliance with their social development obligations, accelerating the process which typically examines one-third of the industry each year.