Fil-Chinese biz chamber backs 99-year land leases
THE Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) called on the incoming Congress to pass a measure that will extend...
Soon taking effect: The 12% VAT on digital services
By Elinelle D. Saldaña
As the digital economy continues to expand, governments worldwide are adapting their tax systems to keep pace. The Philippines is no exception. Starting on...
PHL utilization rate for EU GSP+ hits record 80%
THE Philippine utilization rate in the European Union’s (EU) Generalized Scheme of Preferences Plus (GSP+), a scheme to admit Philippine goods tariff-free, hit a record 80% last year, according to the EU Ambassador to the Philippines.
Domestic shipping to pick up slack as tariffs dampen international trade
DOMESTIC TRADE is expected to drive the growth of the shipping industry in the face of the US tariffs that are disrupting international trade,...
Maharlika remits P1.4-B dividend to Treasury
THE Maharlika Investment Corp. (MIC) said it remitted a dividend of P1.447 billion to the Treasury, representing 75% of its earnings.
“About P1.447 billion was...
NFA begins shipping subsidized rice to Cebu
THE National Food Authority (NFA) said that it shipped 35,000 bags of well-milled rice to Cebu on Monday to support the government’s plan to...
Tobacco taxes need ‘calibration’ to reverse decline in excise revenue
THE Philippine Tobacco Institute (PTI), an industry lobby, said taxes for tobacco need to be overhauled to contain the growing share of illicit tobacco...
Capital gains tax hike expected to make land more costly, deterring investment
PROPOSALS to increase capital gains tax (CGT), donor’s tax and estate tax could make land more expensive and weaken investor activity, the real estate industry...
Funding seen sufficient for expanded P20 rice rollout
THE Department of Agriculture (DA) said the P20-per-kilo rice program will be offered in more regions, with funding and rice inventories deemed sufficient to...
Vietnam still enjoys cost advantage in furniture despite 17% Philippine tariff
THE 17% tariff the US is poised to charge Philippine goods, while favorable compared to rest of the region, is not enough to overcome...
No approval yet for proposed air terminal enhancement fees
THE Department of Transportation (DoTr) said a proposal to collect airport terminal enhancement fee by the three air carriers remains under review.
“The proposal is...
Recto does not expect DSPs to pass VAT on to consumers
FINANCE Secretary Ralph G. Recto said digital service providers (DSPs) are likely to absorb the new value-added tax (VAT) on digital services, instead of passing the cost on to consumers.