(First of two parts)Claims for preferential tax treatment under applicable tax treaties have long been a challenge for non-resident income earners, income payors or withholding agents, as well as the Bureau of Internal Revenue (BIR). This is particularly significant considering that the Philippines has a wide and expanding network of effective tax treaties. Notably, there are 41 such treaties as of Jan. 1 2017.
THE Department of Energy (DoE) has reminded state agencies attached to it that it has the final say on separate energy-related plans, including the proposal by the National Transmission Corp. (TransCo) to take over the project to link Mindanao’s transmission grid to that of Visayas.
THE Board of Investments (BoI) has okayed the grant of incentives for the Metro Pacific group’ P48.5-billion Cavite-Laguna Expressway (CALAX) project, with the planned expressway among preferred initiatives under the government’s Investment Priorities Plan (IPP).
THE GOVERNMENT must find a way to support local farmers to cushion the blow from the influx of cheap rice, the Bangko Sentral ng Pilipinas (BSP) said as it backed the lifting of rice import restrictions by July.
THE BOARD of Investments (BoI) has released the draft guidelines for implementing the 2017 Investments Priorities Plan (IPP) which serves as the blueprint for activities entitled to incentives from the government.
THE PRESIDENT is the proper authority to put a halt to infighting at the Energy Regulatory Commission (ERC), the head of the Senate energy committee said, pointing to the President’s power to appoint the agency’s officials.
PRICES on the wholesale electricity spot market stayed low during the April 8-9 weekend despite surges in market prices at some intervals after earthquakes hit Batangas and caused outages at a number of power plants, the Philippine Electricity Market Corp. (PEMC) said.
THE SENATE is set to tackle the Philippine Innovation Act — which calls for the creation of the interagency National Innovation Council — on third and final reading once sessions resume in May.
Assets = Liabilities + Equity. It is the basic accounting equation that should be familiar to those in the world of business and even business students. These three are presented in the statement of financial position (or balance sheet’ as it is usually called). The balance sheet gives various stakeholders such an important view of the business, it is normally the first part to be presented in a complete set of financial statements (FS). For instance, potential investors may conclude that a company encumbered with a substantial amount of liabilities will consequently incur a significant amount of interest expense, which could negatively affect the bottom line.
THE GOVERNMENT is looking to sign an agreement with Japan by November for the planned P227 billion Mega Manila Subway project seen completed by 2024, two years after the current government’s term ends.