LOCAL and foreign business groups expressed support for the government and some of the country’s biggest companies as they finally move forward with a planned common station project that will link Metro Manila’s three urban rail systems, ending nearly eight years of disputes.
THE DEPARTMENT of Social Welfare and Development (DSWD) said targeted cash transfers contemplated to offset lost entitlements under the tax reform programs will not be enough to offset the more expensive goods that will result from higher excise taxes.
Once a newly-established business is registered with the Securities and Exchange Commission (SEC), it must subsequently register with the Bureau of Internal Revenue (BIR) and secure a tax identification number (TIN). In addition, it must register books of account for record-keeping of transactions which will be used as the basis to compute its internal revenue taxes.
THE TAX REFORM failed to gain committee level approval at the House Ways and Means committee hearing yesterday, but a technical working group (TWG) will be convened during the Congress session break to discuss final concerns, specifically the removal of exemptions on cooperatives.
PRESIDENT Rodrigo R. Duterte asked his legislative allies for their support on tax reform, as he acknowledged the “resistance” encountered by the bill, particularly the parts which seek to raise additional revenue for the government’s aggressive spending programs.
THE FINANCE department is considering tapping the proposed national ID system to spell out benefits due to cardholders to discourage revenue leakage from entitlements granted to senior citizens and persons with disabilities (PWDs).
JAPANESE businesses have expressed interest in investing as much as P198.5 billion in the Philippines, according to the Department of Trade and Industry (DTI).
PHILIPPINE power plants ended 2016 with a total installed capacity of 21,423 megawatts (MW), up 13%, though dependability statistics showed only slight improvement.
One political analyst has said that President Rodrigo R. Duterte’s rise to power stems from voter frustration with the prevailing system of the government. His victory was a protest against the failure of previous administrations to solve corruption and criminality. But many critics of the President view his promise of change and reform to be a pitfall if he does not deliver.
THE Department of Information and Communications Technology (DICT) and the telecommunications industry will be submitting to President Rodrigo R. Duterte this week, a draft executive order (EO) that will cut the permit process for putting up telecommunication infrastructure to seven days.