THE GOVERNMENT could finish the migration plan for the implementation of the Japanese digital television standard as early as this quarter, an official said.
Jan 132014
Jan 132014
IS YOUR company one of the more fortunate enterprises enjoying PEZA (Philippine Economic Zone Authority) incentives? If it is, then you are enjoying either the Income Tax Holiday (ITH) incentive or the 5% Gross Income Tax (GIT) regime.
Jan 122014
STATE subsidies declined by almost 50% in November as the government gave less financial assistance in the month, data from the Bureau of the Treasury showed.
Jan 122014
THE GOVERNMENT will transfer a number of foreign airlines’ operations from Ninoy Aquino International Airport Terminal 1 (NAIA-1) to Terminal 3 (NAIA-3) in April to alleviate congestion in the older terminal.
Jan 122014
(First of two parts) WITH the Bureau of Internal Revenue (BIR) ’s intensified focus on enforcement and audits, taxpayers need to understand the investigation and assessment process and the available remedies under the law, particularly now that the recently issued Revenue Regulations (RR) No. 18-2013, dated Nov. 28, 2013 and which took effect on Dec. 15, 2013, introduced major changes to the BIR’s assessment processes.
Jan 112014
MANILA, Philippines – A lawmaker has filed a bill similar to the “lemon law” of the United States to protect the buyers of motor vehicles, particularly those that fail to meet the standards of quality and performance. Rep. Mark Villar (Lone District, Las Piñas City) said House Bill 3199 would strengthen consumer protection in the purchase of brand new vehicles and provides legal remedies to buyers who face the ill fate of lemon automobiles ending up in their hands. Villar said the historical antecedents of the lemon law originated in the United States and was crafted primarily to return to the consumer the full value of money. “It provides that if a manufacturer or its authorized dealer cannot successfully repair a defective product within a reasonable number of repair attempts. The manufacturer must either promptly replace or repurchase the product,” Villar explained. Villar said given the fast-paced nature of the current time, owning a motor vehicle now is not considered a luxury but more of a necessity to cope with everyday duties and responsibilities. “Coping with this necessity does not come cheap. Owning a motor vehicle is a big investment and could take a substantial chunk of one’s savings. For some unfortunate buyers, an investment in this endeavor has become for naught after they acquired a ‘lemon’ or those that fail to meet the standards of quality and performance,” Villar said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The lawmaker added that because of this, buyers continue with Read More …
Jan 102014
MANILA, Philippines – Net foreign direct investment inflows rose 66 percent to $254 million in October last year from $153 million in the same period in 2012 amid the country’s robust growth and favorable macroeconomic fundamentals, the Bangko Sentral ng Pilipinas reported yesterday. “The notable rise in foreign investments into the country reflects favorable investor sentiment on the back of the country’s macroeconomic stability amid challenging global conditions,” the central bank said. The economy expanded 7.4 percent in the first nine months of last year, faster than the government’s six- to seven-percent target. Inflation stood at an average of three percent in 2013, at the low end of the BSP’s three- to five-percent target range. Central bank data showed net equity capital grew 19 percent to $68 million in October from $57 million in the previous year, while reinvested earnings plunged 44 percent to $50 million from $90 million. Placements in debt instruments or borrowings made by local subsidiaries from the parent companies, meanwhile, surged to $135 million from $6 million. Gross equity placements in October last year came from the US, Singapore, Switzerland, Hong Kong, and Taiwan. These funds went into manufacturing, transportation and storage, financial and insurance, real estate, and mining and quarrying. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the first 10 months of 2013, net FDI inflows went up 35 percent to $3.361 billion from $2.485 billion in the same period in 2012. Net equity capital placements slid 48 percent to $658 million Read More …
Jan 102014
I musty apologize to our dear readers for rudely interrupting this short series on our Business Yearender which I started on the first week of January. I expected to be back in town in time to churn out this second part but my flight schedule got mired somewhere – it’s a very long story, but try as hard as I could, I couldn’t get a flight back in time. So sorry. For the first part of this short series, we had assessments from the top leaders of PhilExport (Mr. Sergio Ortiz-Luis, president), the Philippine Chamber of Handicrafts Industry of PCHI (Mr. Dennis Orlina, honorary president and Mrs. Mila Lacson, current president) and Philippine Plastics Industry Association (Mr. Peter Quintana, president). We go now to the meat industry. Business & Leisure (B&L) talked to Mr. Jesus Cham, director of the Meat Importers & Traders Association (MITA) whose tales of woe have not stopped since 2012. And 2013 has been another tough year for all of the country’s meat importers, he said, and because of the government’s tough new regulations on accreditation, about one-third of the importers have dropped out of the scene. He went further to say that government has apparently bowed down to pressure from local producers to collect more customs duties from the importers, so apart from a big number from their ranks bowing out, many of them have been slowing down. This development has resulted in price increases for imported meat products, and Mr. Cham decries the government’s Read More …
Jan 092014
THE ENERGY department has formally declared an oil discovery onshore Cebu province after the firm behind Service Contract (SC) 44 successfully flowed oil from an exploration well drilled last year.
Jan 092014
PALO, LEYTE — A Philippine Coconut Authority official has projected a 10% annual decline in the volume of coconut oil exports after super typhoon Yolanda (international name: Haiyan) severely damaged coconut farms in Eastern Visayas, the country’s second top coconut-producing region.