DTI urges companies to take advantage of automation opportunities to survive
THE Department of Trade and Industry (DTI) said more automation and digitization after the pandemic will help companies survive, and pressed the private sector to take advantage of the “opportunity” to modernize operations to be ready for the so-called Fourth Industrial Revolution.
ADB invests $10 million in private equity fund focused on PHL mid-caps
THE Asian Development Bank (ADB) has signed a $10-million equity investment agreement with Navegar II L.P. (Navegar II), which is focused on investing in Philippine mid-cap companies.
Transfer pricing — Substance and new form
By Crystabelle Cruz Lucas
Transfer pricing (TP) is one of the areas which produce tax issues for multinational companies. The Bureau of Internal Revenue (BIR) has released rules and fairly new issuances covering related-party transactions and enforcing the arm’s length principle as a way of determining transfer prices of associated enterprises, as it is applied internationally.
BPO workers seek end to floating status, claim job security eroded
BUSINESS process outsourcing (BPO) workers are seeking a halt to the practice of placing employees on “floating” status, which they said compromises job security.
Party-list to challenge proposed full foreign ownership of RE projects
THE Bayan Muna Party-list said it will challenge a proposal allowing full foreign ownership of renewable energy (RE) projects.
CALAX Silang East section expected to open by early 2021
A UNIT of Metro Pacific Tollways Corp. (MPTC) has set a target to open the Silang East section of the Cavite-Laguna Expressway (CALAX) project by the first quarter of 2021.
New POS cancellation rules issued
THE Bureau of Internal Revenue (BIR) said it streamlined the process for cancelling permits to use (PTU) cash registers, point-of-sale (POS) machines and other such devices in compliance with the Ease of Doing Business Act.
Payment ID targets OFW remittance market
A UNIVERSAL payment ID is being positioned as a possible means of easing the remittance process for Overseas Filipino Workers (OFWs), money transfer solutions firm Ripple said.
Online barter in the spotlight as DTI warns of ‘illegal’ activity
TRADE SECRETARY Ramon M. Lopez said the department will look into illegal barter activity online.
LANDBANK releases agricultural loans worth P3.02B in first half
THE Land Bank of the Philippines (LANDBANK) said it released P3.02 billion in agricultural loans in the first half, most of them via a program intended to improve the sector’s competitiveness.
BSP ready to ease further when needed, awaiting right conditions
THE central bank stands ready to ease monetary policy, but views current money supply as ample and is gauging when the financial system can absorb extra liquidity, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.
National ID, SIM card registration touted as anti-terrorism measures by AMLC
THE national ID and the registration of SIM cards will help add teeth to enforcement efforts against terrorism financing, the Anti-Money Laundering Council (AMLC) said.