(First of three parts)Companies that have filed applications for refunds with the Bureau of Internal Revenue (BIR) can attest that securing an approval of a refund claim for unutilized input Value-Added Tax (VAT) attributable to zero-rated sales is always a challenge. There is a perception that tax refunds, compared to tax assessments, are not prioritized by BIR examiners. It is easy to see why.
THE government risks raising its borrowing costs if a proposed Social Security pension hike goes through without a corresponding increase in contributions, economic managers said.
THE Environment Department is due to release next week new guidelines for the audit of the environmental impact assessment (EIA) process covering projects deemed critical to the environment.
THE Philippine Competition Commission (PCC) said it wants to remove language favoring Filipino nationals in the licensing of contractors, calling the current provisions in Republic Act 4566 anticompetitive.
A SINGAPORE business delegation is hoping to meet with President Rodrigo R. Duterte in February to discuss plans for expanding tourism and introduce more investment in the Philippine retail, transportation, and infrastructure sectors.
THE GOVERNMENT will be pushing for a more comprehensive Extractive Industries Transparency Initiative (EITI) report to ensure companies comply with the law in spending their social development and environmental protection funds.
THE Agriculture Department is pushing for Philippine farms to be fully mechanized with the help of a P900-million loan from the Japan International Cooperation Agency (JICA).
President Rodrigo Roa Duterte reiterates the huge problem of illegal drugs in the country is in his speech during the ‘Convergence of Nanay Volunteers as Community Drugwatch’ held at the Parade Grounds in Clarkfield, Angeles City, Pampanga on December 22, 2016. (MNS photo) DAVAO CITY, Dec 28 (Mabuhay) — President Duterte has categorically denied he ordered authorities to just shoot and kill drug suspects even as he dismissed criticisms that those who died outside of police operations were victims of extra-judicial killings. “Did I tell you to kill? I did not. I never said you should kill drug pushers,” Duterte said in a speech before village officials here on Tuesday. He said he told policemen to make sure they were not harmed by drug-crazed pushers. “If they put up a fight, then shoot them. But those being shot at the back, those wrapped in plastic, that’s not ours,” he said, referring to victims who had been summarily executed and were dumped in public places. He said in police operations, pushers were getting killed because they had put up a fight. “I have been telling you (authorities) don’t let them (drug suspects) outsmart you,” the President said in Visayan. It was not the first time that Duterte denied ordering authorities to just kill drug suspects, although he underscored the need for them to stay alive during anti-drug operations. He also pledged to stand by policemen or soldiers, who would face charges in line with the performance of Read More …
THE Department of Trade and Industry (DTI) hopes to reach an agreement this month with the Department of Finance (DoF) on further revisions to the government’s proposal to raise the excise tax rates on automobiles.
THE THIRD WEEK of February is viewed as a critical period for power supply in Luzon, based on simulations from the Department of Energy (DoE), natural gas supply from Malampaya will still be unavailable while several power plants go on maintenance shutdown.