FISCAL transparency in the Philippines is generally compliant with standards set by the International Monetary Fund (IMF), with the lender also indicating that reforms could further improve the country’s scores.
Jul 012015
Jun 302015
CANADA wants talks for a free trade agreement (FTA) with the Philippines to cover as much ground as possible before the change of government in Manila.
Jun 162015
BILATERAL trade between the Philippines and Germany grew by a record 38.1% in the first quarter of 2015 in a positive response to the country’s improving business climate.
May 212015
THE WORLD Trade Organization (WTO) has urged the Philippines to participate in the “necessary steps” for the ratification of a trade agreement facility aimed to provide assistance for developing and less-developed countries (LDCs) in the region.
May 182015
The ability of the Philippines to compete in the world market rests on the ability of its business enterprises to produce quality goods and services in the most efficient and reliable way. Our government recognizes the importance of the work force in achieving this. Accordingly, Republic Act (RA) No. 6971, otherwise known as the “Productivity Incentives Act of 1990,” was made into law with the aim of encouraging higher levels of productivity, while promoting the principle of shared responsibility between workers and employers. This law sets the guidelines for implementing the Productivity Incentive Program (PIP) for the benefit of employees.
Apr 262015
The work force is vital to any company’s success. This is one reason why most companies, especially those in the service industry, make significant investments in the training and development of their people. In the case of a business process outsourcing (BPO) company, well-trained employees allow it to deliver excellent service to its clients worldwide. However, for BPO companies in the Philippines that are registered with the Philippine Economic Zone Authority (PEZA) and avail the 5% gross income tax (GIT) incentive, the deductibility of the training expenses as part of direct cost from the 5% GIT has not been clearly addressed by the Bureau of Internal Revenue (BIR).
Mar 312015
INDIAN PHARMACEUTICAL companies have been invited to establish research and manufacturing operations in the Philippines by the Philippine Chamber of Commerce and Industry (PCCI), ahead of Southeast Asian economic integration.
Jan 142015
FOREIGN CORPORATIONS operating through a license to do business in the Philippines are covered by the provisions of the Corporation Code. In this respect, similar to domestic corporations, they are regulated by the Securities and Exchange Commission (SEC). Among the obligations of a foreign corporation is the duty to notify the SEC of relevant changes on a timely basis, such as changes in principal office address, accounting period, current set of officers, among others.
Jan 112015
DESPITE falling world oil prices, the Philippines’ oil import bill continues to grow in the nine months ending September, highlighting the country’s continued dependence on foreign energy.
Dec 282014
STRONG macroeconomic fundamentals of emerging economies like the Philippines could provide a counterbalance to any continued currency weakness, the head of the Bangko Sentral ng Pilipinas (BSP) said.