GOVERNMENT agencies’ cash usage rate was 78% in the first five months, much lower than the year-earlier level of 92%, the Department of Budget and Management (DBM) said.

REBALANCING supply and demand in the oil market may take time as lockdown measures ease across the globe, according to Moody’s Investor Service.

THE Bureau of Customs (BoC) collection target for 2020 has been reduced to P541.703 billion with the severe economic slowdown expected to persist through the remainder of the year.

GOVERNMENT spending on its coronavirus disease 2019 (COVID-19) containment effort totaled P355.084 billion as of Tuesday, June 9, according to the Department of Budget and Management (DBM).

THE Interagency Task Force for the Management of Emerging Infectious Disease (IATF-EID) on Wednesday ordered hotels and other accommodation establishments (AEs) to obtain an authorization from the tourism department before resuming operations.

THE Asian Development Bank’s (ADB) lending to the Philippines has hit a record $2.6 billion so far this year, exceeding the 2019 level of $2.5 billion.

A DOZEN new economic zones approved this year are expected to attract P6.4 billion worth of investment, including seven new zones proclaimed in the last month.

MAGSASAKA Partylist Representative Argel T. Cabatbat called for a review of Republic Act No. 11203 or the Rice Tariffication Law (RTL) after the government resumed imports on its own account by declaring an auction for 300,000 metric tons (MT) of rice via government to government (G2G) deals.

THE Small Business Corp. (SB Corp.) told legislators that it will finish releasing its P1.5-billion loan program to micro, small and medium enterprises (MSMEs) by August.

THE International Monetary Fund (IMF) will engage in bilateral talks with member-countries to gauge their policy responses in containing the impact of coronavirus disease 2019 (COVID-19).

THE Anti-Red Tape Authority (ARTA) is extending the deadline for government agencies to report on their compliance with a Palace order to streamline regulation.

Prior to the pandemic and the various quarantines imposed in various parts of the country, the hard copy of duly filed Income Tax Return (ITR), along with the required attachments, had to be submitted manually and stamped “Received” at the Large Taxpayers Division (LTD)/Revenue District Office (RDO) where the taxpayer is registered, within 15 days from the statutory due date or date of filing/payment of the ITR, whichever comes later. This year, due to the state of emergency, the filing and payment of income tax have been extended until June 14. However, as June 14 falls on a Sunday, the deadline is automatically extended to the next working day (June 15). Consequently, the submission of the duly filed 2019 ITR and its attachments has been extended until June 30.