THE GOVERNMENT on Tuesday assured that power supply for Luzon will be adequate during the scheduled maintenance shutdown of the Malampaya facility although electricity prices could rise “inevitably” as gas-fed power plants shift to oil for their fuel.
THE DRAFT of the Philippine Development Plan 2017-2022 targets total government spending for development purposes at 49.2% of the national budget by 2022.
THE Department of Agriculture (DA) is looking at a target of 18.5 million metric tons (MT) for unmilled rice this year, which it said was an adequate output level to support moves towards self-sufficiency in the staple grain.
INVESTMENT registered by the Philippine Economic Zone Authority (PEZA) fell over 26% in 2016, mainly due to the political uncertainty during the presidential elections and a wait-and-see attitude on Philippine and US economic policy.
FORMER economic ministers said they support the Finance department’s efforts to reform the tax system, including measures intended to offset lost revenue from reducing personal income tax rates, saying the initiative is “long overdue” and necessary to radically reduce poverty.
In line with the Jan. 20 deadline for the renewal of business registration with local government units (LGUs), it is necessary to know where to pay your local business taxes for 2017. At the LGU of the head office, the branch, sales office, warehouse or the factory?
INFLATION will likely pick up in the near term due to a general rise in goods prices, alongside a recovery in oil prices after oil exporting country agreed to production cuts in crude oil, though conditions will remain generally favorable throughout the year, the Finance department said.
THE GOVERNMENT will be accepting fresh bids for the unbundled regional airports as it pushes ahead with its plan to develop international gateways in the countryside, a top official of the Transportation department said.
(First of three parts)Companies that have filed applications for refunds with the Bureau of Internal Revenue (BIR) can attest that securing an approval of a refund claim for unutilized input Value-Added Tax (VAT) attributable to zero-rated sales is always a challenge. There is a perception that tax refunds, compared to tax assessments, are not prioritized by BIR examiners. It is easy to see why.
THE government risks raising its borrowing costs if a proposed Social Security pension hike goes through without a corresponding increase in contributions, economic managers said.