No firm budget set for national ID system, to depend on gov’t generating extra...
THE National ID rollout next year has not been allocated specific funding in the 2020 Budget and financial support will depend on any fresh revenue or loans raised by the government.
Palace weighs in on taxing POGOs in rebuff to Calida; seen generating P45 billion...
THE President has asserted the government’s right to tax Philippine Offshore Gaming Operators (POGO) should be taxed, rebuffing his own Solicitor General Jose C. Calida, who had stated that POGOs cannot be taxed.
Councils to endorse national government projects starting in 2021
THE Department of Budget and Management (DBM) said it will start requiring agencies to obtain certifications from regional development councils (RDCs) for 2021 budget items, to ensure that projects have local support.
Palace says no order yet to suspend rice imports
THE President’s spokesman Monday said that no order has been officially issued to suspend rice imports, contrary to reports.
Finance dep’t asserts taxability of POGOs despite OSG opinion
THE Department of Finance (DoF) said it maintains that earnings of Philippine Offshore Gaming Operators (POGO) are taxable, contrary to statements issued by the Office of the Solicitor General.
Finance dep’t notes ‘disconnect’ between rice farmgate, retail prices
THE Department of Finance (DoF) said it will look into “potential distortions” in the rice market, citing the wide gap between farmgate and retail prices.
Bill seeks tax exemption for gov’t performance bonuses
A SENATE BILL is seeking to provide a tax exemption for government workers’ performance incentive bonuses.
BoC destroys smuggled cigarette-making equipment
THE Bureau of Customs (BoC) said it destroyed cigarette-making equipment, fake cigarette master cases and other materials at the Port of Clark yesterday.
PHL defends bans on European pork
THE Philippine delegation to the World Trade Organization (WTO) defended Manila’s ban on pork imports from parts of Europe, citing the need to guard against pork from countries affected by African Swine Fever (ASF).
Salary accounts touted for boosting financial inclusivity
SALARY accounts are viewed as a potential channel for broadening financial inclusion by discouraging employees from paying cash wages, thereby helping workers develop a banking history.
House bill seeks public smoking ban for vaping products
A PARTY-LIST legislator filed a bill on Monday regulating the sale and distribution of e-cigarettes and vaporizers and their use in public places, due to unresolved questions over their safety.
An overview of accounting and tax perspectives for financial instruments
By Richard R. Ibarra
Most companies will have financial instruments in their portfolios. Their purpose is solely for capital appreciation and income.