NLEX Corp. on Monday said the new Meycauayan-Marilao East Service Road, which is intended to serve as an alternative route going in and out of Meycauayan and Marilao, Bulacan, is now open to motorists.

THE Pharmaceutical and Healthcare Association of the Philippines (PHAP) said the supply of medicine is adequate, with prices remaining stable in the face of rising oil prices.

THE Department of Trade and Industry (DTI) said Philippine food manufacturers have agreed to a partnership with the department to promote snack foods in Australia.

Last year, new value-added tax (VAT) rules were introduced by Republic Act (RA) No. 11534 or the CREATE Act. The CREATE Implementing Rules and Regulations (IRR), and Revenue Regulations (RR) No. 21-2021 soon followed, which did not put a stop to the questions surrounding the law.

THE Department of Finance (DoF) said that the government’s plan to manage the national debt calls for its gradual reduction without scaling back the infrastructure spending that will enhance long-term productivity.

THE Department of Trade and Industry said it is negotiating for duty-free treatment for Philippine footwear in seeking the renewal of its Generalized System of Preferences (GSP) agreement with the US. 

RISING FUEL PRICES are expected to raise interest in electric vehicles (EVs) in the Philippines, though the supply of such vehicles remains unpredictable due to global demand for such vehicles as well as disruptions caused by rising prices of key components, industry leaders said.

SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) declined 19% to P184.8 billion in 2021, with the bulk of the total going to the Philippine Health Insurance Corp. (PhilHealth).

Upon the effectivity of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act on April 11, 2021, a new requirement to support the VAT zero-rating of local purchases of registered business enterprises was introduced.

THE Department of Finance (DoF) and National Economic and Development Authority (NEDA) on Thursday turned down the proposal to institutionalize uniform wage across regions since it will worsen inequality.

ONLY limited numbers of manufacturers are seeking permission to raise prices of basic goods, the Department of Trade and Industry (DTI) said, with adjustments to the suggested retail price (SRP) list under consideration.

PORK PRODUCERS and rice farmers said lower tariffs for pork and rice failed to benefit consumers and producers, with retail prices remaining high.