DEPARTMENT of Finance (DoF) Undersecretary Karl Kendrick T. Chua said that the government needs to achieve at least a 16.6% tax-to-GDP ratio, to successfully fund its infrastructure program.
Dec 132016
Dec 132016
REMITTANCES could potentially get a boost from higher oil prices, resulting in an improved hiring environment in the Middle East, a senior central bank official said.
Dec 122016
THE PHILIPPINES could make significant economic progress by 2022 that would take it beyond the qualifying standards for the Generalized System of Preferences Plus (GSP+) scheme of the European Union, an EU trade official said.
Dec 122016
THE PALACE on Monday said it was too early to tell how the incoming US government’s stated policy against the outsourcing of jobs overseas will affect the business process outsourcing (BPO) industry here.
Dec 122016
Here is some good news: Issuance of rulings on the tax exemption of benefits paid to employees separated because of retrenchment or closure of the business are now devolved to the Revenue District Offices (RDOs) of the Bureau of Internal Revenue (BIR). As we all know separation pay received by an employee, or his heirs, because of death, sickness, or other physical disability, or for any cause beyond the control of the employee, is exempt from income tax, and consequently from withholding tax pursuant to Section 32(B)(6)(b) of the Tax Code. Cause beyond the control of the employee includes retrenchment due to redundancy or installation of labor-saving devices, or due to closure of the business.
Dec 112016
MANUFACTURERS have promised not to raise prices until the first quarter of 2017, when the impact of foreign exchange movements will be felt, a trade official said.
Dec 112016
THE Department of Energy (DoE) has asked the Climate Change Commission (CCC) for a plan to access international funding to help the country adapt to global warming, Energy Secretary Alfonso G. Cusi said.
Dec 112016
IFRS 15, Revenue from Contracts with Customers, the highly anticipated revenue standard issued by the International Accounting Standards Board (IASB), will change the rules for revenue recognition. IFRS 15 replaces all existing revenue recognition standards and provides companies and industries a comprehensive and consistent set of guidelines by which to account for revenue transactions and in preparing relevant disclosures.
Dec 102016
Senator Leila de Lima ,President Benigno Aquino III , New Bilid Prison,Justice Secretary, Vitaliano Aguirre II , Liberal Party MANILA, Dec 8 (Mabuhay) – Without mincing words, Senator Leila de Lima on Thursday called President Rodrigo Duterte a “murderer.” “People of the Philippines, your President is a murderer,” De Lima said in a statement. She noted Duterte’s statement Wednesday that he would not abandon the police allegedly involved in the November 5 killing of Albuera Mayor Rolando Espinosa Sr. because it was his order to shoot those who would resist arrest. “That is an admission that he is the mastermind of such extrajudicial killing (EJK),” the senator said.“That says it all about the EJK phenomenon.” She added, “Together with Edgar Matobato’s testimony on the Davao Death Squad (DDS), Duterte’s admission seals his fate as the Father of all EJKs, first in Davao City, now throughout the entire Philippines, with the number of his victims now beyond the five thousand mark, and still rising.” Matobato, who claimed to be a former member of the DDS, has accused Duterte of masterminding the killings in Davao City when the President was still mayor. De Lima said this also meant that Supt. Marvin Marcos, sacked head of the Criminal Investigation and Detection Group (CIDG) in Eastern Visayas, and some of its members allegedly involved in Espinosa’s killing were part of the “expanded DDS,” which she said is now national in scope and operation. “Nothing can be clearer than that. What we now have is Read More …
Dec 102016
Erik Matti (MNS photo) Director Erik Matti said that those criticizing the eight finalists of this year’s Metro Manila Film Festival should watch the films first before passing judgment, triggering an avalanche of support from his fans who have been vocal about their cynicism over the quality of past entries. Days after it was revealed that the film festival’s screening committee have decided to snub more commercial works from big budget studios for independent films, the “Honor Thy Father” director sounded off on Facebook against the backlash. “Hinay hinay sa paghamak at paginsulto ng salitang INDIE na parang ito’y may ketong na dapat layuan,” Matti, whose “Seklusyon” is included in the so-called “Magic 8,” wrote. “Ang indie at mainstream ay parehong pelikula rin lang at wag na po ihiwalay sa isa’t isa.” “Ang indie, tulad ng mainstream, ay pwedeng malalim o mababaw, matalino o stupido, nakakatawa o nakakaiyak, commercial o artistic, pambata o pangmatanda o panghugot, cheap o big budget. Pareho pong pelikula yan.” “Panoorin n’yo muna ang mga pelikulang napili sa [MMFF]. Merong pagbabagong naganap sa [MMFF 2016]. Bigyan naman natin ng chance na umubra bago husgahan. Lalabas din naman si Vice, si Vic at si Chinoy kahit di nakasali e,” he added. Matti was referring to studios like Star Cinema and Regal Entertainment, which will be releasing their entries, Vice Ganda and Coco Martin’s “The Super Parental Guardians” and Richard Yap’s “Mano Po 7: Chinoy,” ahead of the annual film festival. Matti’s post on Facebook has since garnered Read More …