THE GOVERNMENT’S liability spending in February grew more than 243% on rising foreign principal payments, according to the Treasury bureau.
Apr 262017
Apr 262017
On June 30, the government officially transitioned to a new administration that came with a promise of change. A national expenditure program and some executive orders later, change has become more and more apparent to Filipinos at large. In August, for instance, a Citizens’ Complaint Hotline was launched to serve as a 24/7 grievance redress channel. This would later be institutionalized along with the establishment of a Complaint Center through an Executive Order.
Apr 252017
INVESTMENT pledges in the year to date hit P153.97 billion as of April 25, exceeding by 31% the P117.26 billion logged in the first four months of 2016, the Board of Investments (BoI) said on Tuesday.
Apr 252017
INFLATION is expected to stabilize at around 3.5% until the third quarter, which, coupled with strong economic growth, will allow the central bank to keep policy rates on hold and provide some comfort for local investors.
Apr 252017
THE Bureau of Customs (BoC) said it exceeded its first quarter revenue target, with 10 out of 17 ports hitting their collection goals.
Apr 242017
PRESIDENT Rodrigo R. Duterte has signed the five-year coffee roadmap that aims to boost bean yields and self-sufficiency levels.
Apr 242017
THE Department of Agriculture (DA) has launched a program to stock fingerlings of indigenous and non-invasive fish species in major river basins and lakes over the next five years.
Apr 242017
Can the Bureau of Internal Revenue (BIR) issue an assessment even after the lapse of the three-year prescriptive period even if it is clear that no fraud was committed? This is the question I usually received from clients. And my answer to this question is, “Yes.” The general rule is that the BIR is given three years to issue an assessment against a taxpayer. However, Section 222 of the Tax Code of 1997, as amended, provides three instances where the prescriptive period is extended to 10 years from discovery. These are: (1) if the return is false; (2) if the return is fraudulent with the intent to evade taxes; and (3) if no return is filed. Among these three cases, the issue normally lies in what constitutes a false return. Would a simple mistake make a return false for purposes of applying the 10-year prescriptive period?
Apr 232017
THE BANGKO SENTRAL ng Pilipinas (BSP) will announce its latest forecasts on the country’s external payments position next month, a senior official said, while noting that some recovery is expected in terms of capital inflows as market uncertainty eases.
Apr 232017
RICE PRICES are expected to remain stable with over two months’ worth of buffer stocks available, a senior central bank official said, while noting that imports brought in by the private sector are unlikely to cause a sharp drop in the price of the staple.