FOLLOWING the allocation of P8.3 billion to fund free tuition in state universities and colleges (SUCs), the passage of a free higher education bill will be a government priority in January if the program is to be implemented by the second half of 2017.
THE PHILIPPINES is gearing up to negotiate two big free trade agreements (FTA) next year, as countries under the Regional Comprehensive Economic Partnership (RCEP) approach a consensus on the partnership’s terms, and with trade talks with the European Union (EU) set to resume in the first quarter next year.
Christmas celebrations in the Philippines are considered the longest in the world. With all the parties, gift-giving, food, shopping and festivities, this celebration can be the most wonderful time of the year. But we cannot forestall the inevitable — taxes. While some may be savoring the cool Christmas air and enjoying the holidays, taxation does not stop. Every move appears to come with a tax consequence, and it pays to know the rules.
CERTAIN infrastructure projects will not be funded as public-private partnerships (PPP) in order to fast-track their completion and save on costs, Finance Secretary Carlos G. Dominguez III said.
AFTER the cancellation of an Investment Coordination Committee (ICC) Cabinet Committee meeting set for Dec. 1, the next one could be set for the second week of January with eight projects awaiting approval, according to the National Economic and Development Authority (NEDA).
THE Department of Trade and Industry (DTI) expects investment pledges registered by the Board of Investments (BoI) to rise 15%-20% this year, with growth dampened by a high-year-earlier base.
THE Department of Trade and Industry (DTI) has warned the House of Representatives on the possible negative effect of proposed excise taxes on sugar-sweetened drinks, saying it might dampen the growth of the beverage industry.
THE House of Representatives Ways and Means Committee plans to focus on the Comprehensive Tax Reform Program (CTRP) when the congressional session resumes next month.
The emergence of traditional parols and the start of Simbang Gabi signal the onset of the Christmas season. Whether on the streets, parks, churches, offices or at home, the sight of glittery lights evokes a festive mood. At the workplace, companies are normally busy with their Christmas parties, except perhaps for accountants, who are celebrating with a different mood. After all, this is the time of the year when bookkeepers make the last push before they can heave a sigh of relief as they close corporate books. Year-end inventory checks are in full swing and adjusting entries are prepared, booked and analyzed. Yes, these activities may be cyclical but a missed accounting entry with possible tax implications is a big no-no in the accounting world.
HONDA Cars Philippines, Inc. may consider reducing its work force as an austerity measure ahead of a proposed increase in excise tax that is expected to dampen demand, a top official said.