Safety nets for poor seen raising buying power by up to 50%
EXPANDING SOCIAL protection programs such as universal child benefits, disability benefits and old-age pensions for the poor in the Philippines could boost their purchasing power by up to 50%, a United Nations (UN) agency said.
One-time grant for work-disability pensioners to cost P600 million
THE DEPARTMENT of Labor and Employment (DoLE) will allocate about P600 million for work-disability retirees due to receive grants of P20,000 each via the Employees Compensation Commission (ECC).
House panel approves measures to benefit power line workers
A HOUSE of Representatives committee has approved the consolidation of measures that will, among others, increase the insurance coverage and benefits of power line workers.
Gov’t won’t back down on lifting mining ban
THE GOVERNMENT said it will not give in to pressure to reconsider Executive Order (EO) No. 130, which lifted the moratorium on new mining agreements, citing the need to generate new revenue due to the pandemic.
Maynilad response on revised water deal terms pending
JUSTICE SECRETARY Menardo I. Guevarra said the government panel reviewing the water concession contracts is waiting for Maynilad Water Services, Inc. to indicate its acceptance of the contract terms signed by Manila Water Co., Inc. last month.
Marked fuel program raises over P218 billion in tax as of mid-April
DUTIES AND TAXES collected from marked fuel products amounted to P218.1 billion as of April 15, counting back from the launch of the fuel marking program in 2019, the Department of Finance (DoF) said.
ERC sets capacity, market share limits for grids
THE ENERGY Regulatory Commission (ERC) has released its caps for installed generating capacity and market share limitations for the national and Luzon, Visayas and Mindanao grids.
Exporters advised to adjust to Mexico labeling rules on sugary foods
FOOD COMPANIES exporting products with high sugar content to Mexico are being urged to remove cartoons from labels to comply with the country’s new anti-obesity rules.
NEA Q1 loans to power cooperatives hit P102M
THE NATIONAL Electrification Administration (NEA) said it disbursed P102.4 million worth of loans to five electric cooperatives (ECs) in the first quarter, mostly for the capital expenditure (capex) and working capital needs of two utilities.
Agriculture chamber backs price ceiling on imported pork to deter profiteers
THE PHILIPPINE Chamber of Agriculture and Food, Inc. (PCAFI) said it supports the imposition of price ceilings on imported pork products, which will be allowed entry at lower tariffs, to ensure that the tariff savings are passed on to consumers.
On to the tax audit period
By John Patrick L. Paumig
Physical exhaustion, sleepless nights, and anxiety are among the words that some might use to describe the experience of taxpayers and their accountants in this tax season just concluded, an ordeal heightened by the effects of the pandemic and lockdowns.
Outsourcing industry recovery could be starting, survey indicates
OPERATIONS of outsourcing companies have started to stabilize as companies bounce back from the lockdown-induced slump of 2020, advisory firm Outsource Accelerator (OA) said in a report.