BIR urged to adopt ‘virtual stamp’ for cigarettes
A SENIOR legislator on Monday proposed that the Bureau of Internal Revenue (BIR) create “virtual stamps” for export cigarettes to deter their smuggling into the domestic market and to conform with international best practices.
DoE solicits comment on draft coal handling, distribution rules
THE Department of Energy (DoE) is soliciting comment on its draft department circular covering the rules for coal handling, transport, storage and distribution.
New quarantine raises old fears about flow of farm goods
THE PROSPECT of a stricter quarantine has raised fears of disruption to the flow of food from producers to markets, as occurred early on in the pandemic.
House ratifies bicam report on bill extending lifeline rates by 30 years
THE HOUSE of Representatives ratified on Monday the bicameral conference committee report on a proposed law that will extend the lifeline rates for marginalized households until 2051.
Warehouse Receipts Law amendments seen helping farmers obtain financing
THE PASSAGE of a measure that will amend the Warehouse Receipt Law will help farmers grow their businesses by allowing them to more easily obtain bank financing, a former Finance Secretary said.
Green Climate Fund allots $300 million to ADB for green recovery program
THE Green Climate Fund (GCF) has allocated $300 million for Asian Development Banks (ADB) projects which aim to build climate resilience and promote sustainable economic development.
The SC ruling on allowable deductions for PEZA firms
By Mark Ebenezer A. Bernardo
The sleepless nights of most accountants will end less than a month from now, as the last day of filing annual income tax returns (ITR) for corporations whose taxable year ended December 31, 2020 is on the 15th of April.
Senators keen to raise funding for GUIDE bill beyond P10 billion
A SENATE committee is planning to increase the P10 billion allocated for a measure that will assist businesses deemed strategic in recovering from the pandemic.
DENR to begin dredging of Bicol River on March 23
THE DEPARTMENT of Environment and Natural Resources (DENR) said that it will begin dredging on Tuesday a section of the 94-kilometer Bicol River to restore the river’s natural flow rate and minimize flood risk.
Mondelez calls for plastics ban rethink, citing food safety
A MULTINATIONAL snack maker said Thursday that the ban on single-use plastics must be reconsidered, calling the packaging material important for ensuring the safety and quality of food products.
Gov’t cash usage in first two months behind year-earlier pace
THE government’s cash utilization rate in January and February fell behind the pace set a year earlier, the Department of Budget and Management (DBM) reported.
‘Dirty money’ risk deemed moderate for PHL banks — BSP
FINANCIAL INSTITUTIONS in the Philippines have a “medium” risk of exposure to activity related to money-laundering and terrorist financing, according to a risk assessment conducted by the Bangko Sentral ng Pilipinas (BSP).