Seizures of counterfeit goods valued at P13.7 billion in first seven months
THE National Committee on Intellectual Property Rights (NCIPR) seized approximately P13.73 billion of counterfeit products valued at P13.73 billion in the seven months to July.
Transfer pricing audits are coming… Get ready!
By Reynante M. Marcelo
Related party transactions have come under renewed scrutiny from regulators lately due to their importance in promoting corporate good governance and in preventing further erosion of the tax base.
Meat processors scrambling to save holiday sales amid provincial bans
THE meat processing industry is expecting at least a 5-10% reduction in the value of its annual production because of restrictions on processed meat products in selected provinces.
BoI expecting ‘small’ benefit from trade war, more steel investment
THE Board of Investments (BoI) said it is expecting a “small” benefit from the US-China trade war but is working to capture more investment from relocating firms seeking to evade tariff coverage, particularly the steel industry.
DoF says rice still effectively protected, hampering downstream sectors
THE finance department said rice effectively continues to enjoy tariff protections, forcing industries that are downstream from rice, such as those that depend on it for feed, to be more efficient to compensate for increased costs.
Road user tax bill seen raising additional P8.12-B in first year
A MEASURE gradually increasing the road users’ tax filed in the House of Representatives is expected to generate P8.12 billion worth of revenue in the first year of implementation, a key legislator said.
Philippines seeking to join APEC data privacy system
THE Philippines has applied to join the Cross-Border Privacy Rules (CBPR) system to adopt privacy standards in order to ease data exchange across the Asia-Pacific, the National Privacy Commission (NPC) said in a statement Friday.
Legislator sees possible budget approval at House by Friday
REPRESENTATIVE Isidro T. Ungab of Davao City’s third district, who chairs the House Appropriations committee, said the P4.1-trillion budget bill for 2020 could be approved on third reading by Friday.
House bill filed creating strategic fuel reserve
A LEGISLATOR filed a bill Thursday calling for the creation of a strategic reserve for petroleum products, to cushion the impact of oil price and supply shocks.
Energy think tank proposed for UP
THE chair of the Senate’s energy committee has revived calls for the creation of a think tank for the energy sector, to help deal with energy crises such as oil price shocks arising from any disruption in the supply of crude from the Middle East.
Senate panel approves additional TESDA funding
THE Senate on Thursday approved the proposed P15-billion budget of the Technical Education and Skills Development Authority (TESDA), granting the agency’s request for more funding to carry out its legal mandate to provide free access to technical training.
Farmer party-list legislator seeks investigation into rice cartels, ASF
A PARTY-LIST legislator representing farmers said Thursday that he is seeking investigations into rice industry cartels as well the outbreak of African Swine Fever (ASF) in some hog farms on Luzon.