DTI says Price Act fines do not deter violations
THE Department of Trade and Industry (DTI) said Thursday it will seek amendments to the Price Act to upgrade the prescribed fines for price manipulation and other violations.
Special session proposed to pass CREATE bill, other critical measures
A LEGISLATOR has asked President Rodrigo R. Duterte to seek a special session of Congress in order to pass “critically-needed” measures to boost the economy, such as the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE).
Higher demand seen likely to pull up June WESM prices
PRICES at the Wholesale Electricity Spot Market (WESM) are likely to increase with demand expected to pick up as industries and commercial establishments set to resume operations in June, its operator reported.
Sotto estimates P548B needed for economic stimulus in 2020
SENATE President Vicente C. Sotto said the chamber’s stimulus bill is expected to require P548 billion in funding for the remainder of 2020 and a further P80 billion next year.
CREATE bill approval by June 3 seen possible
THE proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) could be approved on final reading ahead of the Congressional break, Senate President Vicente C. Sotto III said on Wednesday.
Non-expiration of franchises approved in principle by Senate committee
THE Senate Committee on Constitutional Amendments and Revision of Codes approved in principle on Wednesday a measure allowing franchises with pending renewal applications in Congress to continue operating past the franchise expiration date.
Lopez says pandemic warrants review of drug price controls
TRADE Secretary Ramon M. Lopez proposed a review of drug price controls to help the pharmaceutical industry better respond to coronavirus disease 2019 (COVID-19).
DBM sees only P130 billion in budget realignments for stimulus
THE Department of Budget and Management (DBM) said the government has about P130 billion on hand from savings and budget realignments with which to fund stimulus measures, much less than various proposals now being considered in Congress.
Rural co-ops seek force-majeure relief from power contracts
RURAL power utilities are asking the Energy Regulatory Commission (ERC) to ease their obligations under power contracts entered into with generating companies, while promising to provide consumers relief from bill payments as ordered.
PHL 4G video quality declines in March after lockdown
FOURTH-GENERATION (4G) video quality in the Philippines declined in March, which most Filipinos spent indoors after the government imposed an enhanced community quarantine (ECQ) to contain the spread of the coronavirus, UK-based Opensignal Ltd. said.
Are we ready for a tax on digital services?
By Marion D. Castañeda
As the world continues to face the effects of the COVID-19 pandemic, the government has acknowledged its immediate fiscal impact, including the adverse consequences on tax collections in recent months. Having missed collection targets by a significant margin starting in March, the Bureau of Internal Revenue (BIR) expects future collections to also fall below target as an effect of the economic slowdown.
Jobstreet sees pickup in May job ad postings after poor April showing
JOBSTREET.COM, an online job search portal, said postings by employers advertising new job opportunities started to pick up in May after having fallen 30-50% year on year during the first full month of the Luzon lockdown in April.