ABACA OUTPUT in the first two months of 2019 rose 5.9% year on year to 86,036.5 bales, the Philippine Fiber Industry Development Authority (PhilFIDA) said.

It is not every day that delinquents are given the chance to avail of tax amnesty. A review of our past tax amnesties, both legislated and administrative, show that delinquents are very seldom given breaks. Of the 10 tax amnesties passed during the Marcos administration, only one covered delinquents (i.e., Presidential Decree No. 68, issued in 1972). Of the three tax amnesties passed during the Corazon Aquino administration, none covered delinquents. However, there was Executive Order No. 44, which authorized the Bureau of Internal Revenue (BIR) to accept compromise payments on delinquent accounts.

THE Board of Investments (BoI) said approved investment pledges in the first quarter of the year rose 60%, driven by power projects.

FORMER government officials have weighed in on issues relating to the Kaliwa dam project that has left the administration and the current leadership of the Metropolitan Waterworks and Sewerage system (MWSS) parrying criticism from environmentalists and lawmakers.

THE Department of Labor and Employment (DoLE) said it is conducting further inspections of hospitals and bus companies after employees complained of unduly long working hours.

THE United States’ goods trade deficit with the Philippines widened by more than a fifth last year, according to the US 2019 National Trade Estimates (NTE) report which largely reiterated concerns raised by Washington on trade barriers put up by the Philippine government.

THE International Labor Organization (ILO) said employers need to update their business models to adapt to growing technological innovation, with the Association of Southeast Asian Nations (ASEAN) identified as a potential hot spot for adopting more automated processes.

THE Department of Energy (DoE) is asking industry stakeholders to comment on a draft circular that will regulate the provision of ancillary services in the country’s power grid.

GOVERNMENT borrowing grew slightly in February driven by the issue of bonds and bills, the Bureau of the Treasury said.

SPEAKER Gloria Macapagal-Arroyo said China provides a development model that offers an alternative to Western approaches, which has served China well in the past few decades.

The new lease standard under Philippine Financial Reporting Standard (PFRS) 16 has been effective for annual periods beginning on or after January 1, 2019.

FINANCE Secretary Carlos G. Dominguez III on Friday reiterated his call to Congress to pass the remaining packages of the government’s tax reform program this year.