MALACAÑANG said that a measure proposing to raise the tax exemption on employee bonuses will have to go through the normal processes of approval, dampening hopes by some House members to apply the new exemptions to bonuses being paid out next month.
THE P23.34-billion supplemental budget being requested by the Budget department is likely to be trimmed, a House official said, though he assured that the chamber will work to approve the measure before year’s end.
SALES by vehicle importers rose 20% in October, driven by the car and light commercial vehicle (LCV) segments, the Association of Vehicle Importers and Distributors (AVID) said in a statement on Thursday.
MALACAÑANG and the House of Representatives are moving to facilitate early passage of a joint resolution that will allow the government to tap existing capacities to plug the projected power shortage next year.
SPEAKER Feliciano R. Belmonte, Jr. assured a speedy approval for the P23.34-billion supplemental budget being requested by the Budget department, citing the need to back previous projects left unfunded following a Supreme Court ruling on pork-barrel disbursements.
CONFIDENCE among CEOs in the Asia Pacific region continues to rise, a new report by PwC finds. Some 46% of executives in the region now say they are “very confident” of growth in the next 12 months, up 10 points from 2012 and four points from last year, despite slowing growth in China, the economic engine for the region.
THE PHILIPPINE Economic Zone Authority (PEZA) said incentive packages being prepared by the Finance department will send a signal of policy discontinuity that could turn away potential investors.
LAWMAKERS assured that the proposed monitoring strategy for tax incentives being discussed at the House of Representatives would not impose a ceiling on such perks on businesses, but would only focus on instilling transparency.
THE ENERGY Regulatory Commission (ERC) has suspended the issuance of licenses to new retail electricity suppliers (RES) as it moves to address regulatory issues with the hope of attracting more companies to participate in the retail market.
TACLOBAN CITY — Agriculture Secretary Proceso J. Alcala said a total of P1.5 billion has been spent in the past 12 months to rehabilitate the crop, livestock and fishery sectors in areas damaged by typhoon Yolanda last year.