THE real estate sector was the fastest-growing generator of revenue in the third quarter of 2016, the Philippine Statistics Authority (PSA) reported yesterday.
Jan 192017
Jan 192017
THE MOVE to address illegal contractualization is now “back to square one” after President Rodrigo R. Duterte rejected a proposed department order addressing some issues with the employment practice, persons affiliated with the labor movement and employers’ groups said.
Jan 192017
THE PHILIPPINES is “technology neutral” in pursuing energy projects, the Department of Energy (DoE) told participants of a ministerial meeting in Abu Dhabi on Tuesday, taking overseas its stance of avoiding quotas on the resources used in putting up a power plant.
Jan 182017
EXPORTS to the European Union (EU) can survive the loss of a preferential trade arrangement that allowed the tariff-free access of over 6,000 products, but some agricultural products may be more vulnerable than others, a Department of Trade and Industry (DTI) official said.
Jan 182017
BUSINESS GROUPS generally welcome the latest Investment Priorities Plan (IPP) of the Board of Investments (BoI), but some are asking for more clarity on steps being taken to transfer incentives currently given in Metro Manila to other regions without the “risk of losing to other countries.”
Jan 182017
One may chuckle at the fact that the word “interest” is used 135 times in different parts of the Tax Code but is never defined. “Interest” as used in the Tax Code refers to: • Income earned from “deposits,” “deposit substitutes,” “trust funds” and other similar arrangements • Income generated from loans, bonds, notes, and other forms of borrowings • The additional imposition whenever a taxpayer belatedly pays a tax • Revenue received from lending activities by bank, non-bank financial intermediaries and finance companies which is subject to the gross receipts tax (GRT) of 1% to 5% depending on the remaining maturity of the underlying debt instrument, and which is subject to readjustment of tax rates under certain conditions.
Jan 172017
THE equities market, peso and the overall economy will remain resilient this year despite global market uncertainties, according to the Hong Kong and Shanghai Banking Corp. (HSBC), with the bank factoring into its projections strong remittances, foreign direct investment and robust domestic consumption.
Jan 172017
A DOUBLE-DIGIT surge in remittances seen in November likely provided a boost to household spending during the fourth quarter of 2016, which is expected to prop up economic growth beyond 6% during the period, a bank economist said.
Jan 172017
THE Philippine Ports Authority (PPA) yesterday reported a 17% rise in net profit for the first 11 months of 2016.
Jan 162017
THE EUROPEAN Union is monitoring the government’s plan to bring back the death penalty, with the Philippines’ eligibility for a preferential trade arrangement at stake, an EU official said.