EMPLOYMENT growth resulting from the full implementation of the Responsible Parenthood and Reproductive Health (RPRH) law will help reduce poverty incidence significantly, the government’s chief economic planner said
Nov 062016
Nov 062016
THE Department of Energy (DoE) has factored in the administration’s ambitious goal of lifting a majority of the Filipinos into the middle class by 2040 in drafting its 15-year plan for the energy industry.
Nov 062016
In the first quarter of 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) released new accounting standards on Leases — IFRS 16 and ASC 844, respectively. While the standards differed on some key points, both boards noted that they fulfill the key objective of recognition of lease-related assets and liabilities by lessees on the balance sheet to enhance transparency. These new standards, which took almost a decade to finalize, could have a significant impact on all industries. Adoption could be challenging for many entities, especially for multinational companies that have decentralized operations and report both in US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). The differences between IFRS 16 and ASC 844 could also add complexity to the implementation.
Nov 032016
METRO Manila’s new water source will be ready two years later than scheduled after the change in leadership altered key details of the project, including the implementing government agency.
Nov 032016
THE Environment department may start in January an audit of the environmental compliance certificates (ECC) issued to all coal-fired power projects, with the aim of minimizing the Philippines’ heavy reliance on “dirty” energy sources.
Nov 032016
CERTIFICATES of Tax Exemption (CTEs) covering the transfer of land intended for use in government socialized housing projects will be prioritized by the Bureau of Internal Revenue (BIR), under an agreement signed with housing regulators.
Nov 022016
THE government needs to accelerate its economic reforms if it is to achieve its poverty-reduction goals, according to the Department of Finance (DoF).
Nov 022016
THE VOLUME OF cargo passing through the country’s ports rose 9% in the first nine months of the year, the Philippine Ports Authority (PPA) reported, attributing the rise to the growing economy and the rush to have goods in stores by Christmas.
Nov 022016
The Base Erosion and Profit Shifting (BEPS) Project by the Organization of Economic Co-operation and Development (OECD) and (supported by) the G20 countries, aimed to address the discordant tax laws and rules among and between different jurisdictions/countries that make it possible for multinational group of companies to commit BEPS. After the issuance in October 2015 of the final reports on the BEPS Initiative, many might still be unaware that the final reports have significant impact on existing international guidelines on transfer pricing (TP).
Nov 012016
FOREIGN direct investment (FDI) to the Philippines is expected to keep growing despite unsettling rhetoric from President Rodrigo R. Duterte, but will likely see a shift in the sources of capital to reflect the trade pivot to Asian economies, a public finance expert said.