Bill seeks to raise safeguards against pesticide poisoning
LEGISLATORS have fled a bill requiring landowners to test for safe levels of pesticide before allowing farm workers to work on their sites.
US state seeking to grow Asian, European markets for LNG
BATON ROUGE, LOUISIANA -- Louisiana Economic Development (LED), a development agency, is looking to Asia and Europe as the main destinations for the US state’s natural gas in the coming years.
BIR ready to conduct transfer pricing audits
By Lina P. Figueroa
The Bureau of Internal Revenue (BIR) has signaled that it will conduct transfer pricing audits with the promulgation of its Transfer Pricing Audit Guidelines under Revenue Audit Memorandum Order (RAMO) No. 1-2019. The Transfer Pricing Guidelines were issued in 2013 through Revenue Regulations (RR) No. 2-2013.
Vietnam-sized outbreak seen as ASF worst-case scenario
THE “worst-case scenario” for the Philippines’ African Swine Fever (ASF) outbreak is one as serious as Vietnam’s, which has crippled that country’s livestock industry, analysts said.
Mindanao businesses keenly await progress on railway system
DAVAO CITY -- Mindanao’s business leaders are hoping for more clarity on the southern island’s new railway, which is expected to begin construction later this year.
Hearings set for 20% student airfare discounts
THE Civil Aeronautics Board (CAB) said it will conduct a public hearing on Wednesday to discuss the application of a new student fare discount law on air travel.
Unreliable boat service seen choking off Guimaras tourism
RESTRICTIONS on boat operations between Panay Island and Guimaras have made transport links unpredictable and are hindering the tourism industry of Guimaras, the island province’s governor said.
Davao airport authority expected to increase flight connections
DAVAO CITY -- A law creating the Davao International Airport Authority (DIAA) is expected to improve airport facilities and increase the city’s overseas connectivity, the business sector said.
Government debt rises 72% as of end-July
GOVERNMENT DEBT rose by 72.8% year on year at the end of July to P729.27 billion, the Bureau of the Treasury said.
Intellectual property applications climb 11% in first half
THE Intellectual Property Office of the Philippines (IPOPHL) received 11% more intellectual property applications in the first half of 2019, IPOPHL said in a statement Saturday.
PTT wins P13.35-M VAT refund from CTA
THE Court of Tax Appeals (CTA) has ordered a P13.35 million refund on erroneously paid value-added tax (VAT) by PTT Philippines Trading Corp. covering its imports of petroleum products.
Preparing for the IBOR transition
By Janice Joy M. Agati and Redgienald G. Radam
In the first part of this article, we highlighted the current state of Interbank Offered Rates (IBORs), the factors behind the shift from IBORs to Alternate Reference Rates (ARRs), and the top 10 challenges to be faced in transitioning to the ARRs. In this second part, we will delve into the key operational, financial and accounting considerations that come along with the imminent discontinuation of IBORs.