THE GOVERNMENT’S income from port operations grew by around 16% in the first nine months of 2016, on higher revenue from cargo-related fees and lower expenses, the Philippine Ports Authority (PPA) said.
Oct 242016
Oct 242016
One week from now, we commemorate All Souls Day. Many of us will visit the cemetery to remember departed loved ones. For some, this occasion is a reminder that, after all the toils and struggles in life, our physical bodies will be laid to rest in the same place. Then, what happens? Aside from the spiritual and religious aspects of death, there is another aspect which we might not be able to avoid — tax. In particular, upon death, our estate could be subject to estate tax. Others call it the death tax. Is this applicable only to rich people?
Oct 232016
DAMAGE to agriculture caused by the consecutive typhoons code-named Karen and Lawin is estimated at P10.2 billion so far, according to the Department of Agriculture (DA).
Oct 232016
CHINESE RULES for taking in Philippine agricultural products are still “unpredictable” and “restrictive” despite Malacañang’s pivot to Beijing, an industry association said.
Oct 232016
As part of its continuing efforts to further streamline and standardize International Financial Reporting Standards (IFRS) around the world, the International Accounting Standards Board (IASB) issued an exposure draft (ED) on the revised Conceptual Framework for Financial Reporting (the Framework). The Framework is not itself a standard, but is instead akin to the “backbone” upon which the various standards are fleshed out. It provides a clear and consistent set of concepts to help define and standardize the objectives behind the various standards. The Framework not only helps the IASB develop and update IFRS, it also helps the preparers of financial statements create their own policies when no Standard applies to a particular transaction or event, or when a choice of accounting policies is allowed. In addition, it can also help others better understand and interpret IFRS.
Oct 212016
ILOILO CITY — The fish port in Concepcion, one of the towns on Panay Island that was hardest hit by typhoon Yolanda (international name: Haiyan), is getting a $4 million grant from the Korea International Cooperation Agency (KOICA) to make the facility more disaster-resilient.
Oct 202016
THE Department of Trade and Industry is consulting with the auto industry in order to gauge the potential effects of a hike in automobile excise tax, an official said.
Oct 202016
THE adjusted fuel excise tax and additional VAT that would be implemented with the proposed personal income tax (PIT) reform package of the Department of Finance (DoF) would cost more than P4,000 in tax annually to wage earners with a P21,000 monthly income.
Oct 202016
DAVAO CITY — Banana planters said a review being conducted by the Department of Agrarian Reform (DAR) of Agribusiness Venture Agreements (AVAs) signed by agrarian reform beneficiaries will scare away potential investors who may want to fund the beneficiaries’ growing operations.
Oct 192016
AN OFFICIAL recommendation on the feasibility of setting up downstream ore processing facilities in the Philippines will be drawn up by the end of the year, according to the chief of the Mines and Geosciences Bureau (MGB).