Group warns AKAP may be used for ‘vote-buying’

December 30, 2024 | 7:55 pm

A POLITICAL GROUP on Monday raised concerns over the possibility that a government cash-aid program for poor workers could be used as a tool to engage in “vote-buying” for the upcoming 2025 midterm elections.

Lawmakers should instead look at hiking workers’ minimum wages instead of institutionalizing the Ayuda Para sa Kapos ang Kita Program (AKAP), said Renee Louise M. Co, spokesperson of party-list group Kabataan.

AKAP is a social welfare scheme that provides one-time cash assistance worth P3,000 to P5,000 to workers whose income falls below the poverty threshold.

“If Congress really cared for the welfare of the underpaid and overworked labor force, which is the main target of the AKAP, it would have legislated wage hikes and reforms,” she said in a statement in Filipino.

“It appears that the elected officials really don’t care about our fellow workers unless they can use their support in the 2025 elections. This can be used for vote-buying. This is not the help that workers need and deserve,” she added.

Measures seeking to legislate an across-the-board wage hike were stalled in Congress.

The Senate in February already passed a bill granting a P100 wage hike for private sector workers, while the House of Representatives labor panel is yet to approve a counterpart measure. — Kenneth Christiane L. Basilio

2 senior NPA officials arrested in Mindanao

December 30, 2024 | 7:55 pm

STOCK PHOTO | Image by Klaus Hausmann from Pixabay

COTABATO CITY — Policemen and soldiers arrested two senior leaders of the New People’s Army (NPA), wanted for high-profile criminal cases pending in courts, in a joint operation in Davao City on Saturday.

The Catholic station DXMS in Cotabato City reported on Monday morning that Benny Flores Mendoza and Francisco Rotol Sud-ongan are now locked in a detention facility of the Criminal Investigation and Detection Group-11 (CIDG-11).

Major Gen. Allan D. Hambala, commander of the Army’s 10^th Infantry Division (ID), told reporters in Cotabato City on Monday that operatives of the CIDG-11 and intelligence agents of the Davao City Police Office and 10^th ID managed to locate the NPA officials in Isla Suerte in Barangay 76A in Talomo, Davao City with the help of informants, among them former NPAs who have returned to the fold of law.

Mr. Mendoza and Mr. Sud-ongan are both senior members of the executive committee of the NPA’s self-styled Southern Mindanao Regional Command, whose leaders are wanted for heinous crimes, including multiple murder and harboring of wanted persons.

Mr. Hambala said the warrants for their arrest were issued by the Regional Trial Court (RTC) Branch 11 and the RTC Branch 56 in Compostela, Davao de Oro. — John Felix M. Unson

EV sales growth seen driven by new entrants

December 30, 2024 | 7:46 pm

Hybrid Electric Vehicle-Zenix — TOYOTA.COM.PH

By Justine Irish D. Tabile, Reporter

ELECTRIC VEHICLE (EV) sales are expected to grow next year with new entrants attracted by expanded fiscal incentives and the development of the charging network, Toyota Motor Philippines Corp. (TMP) said.

“With the sustained effect of expanded fiscal incentives for hybrid and plug-in hybrid models, the entry of new market players, and continuous public-private collaboration on EV charging infrastructure, TMP expects that EV sales volume will continue to increase,” TMP told BusinessWorld.

“Demand will be driven by strong competition in this segment of the automotive market,” it added.

For 2024, TMP expects to double its EV sales to 18,000 units. As of November, TMP had sold 12,553 Toyota and Lexus EVs, accounting for 7% of the company’s total sales.

“We can attribute this growth to the accessibility of Toyota hybrid EV (HEV) models as well as the expansion of zero import duty exemption to Toyota and Lexus HEV models under Executive Order 12,” it said.

“With total industry sales expected to hit the 470,000 mark, EV sales will account for almost 4%, a slight increase from last year in terms of share,” it added.

Despite increasing sales, TMP said that high upfront costs, limited charging infrastructure, and the need for greater consumer awareness about EV benefits and reliability are limiting EVs’ appeal in the Philippine market.

“Addressing these requires a multifaceted approach involving government incentives, industry collaboration, and public education campaigns,” it said.

“At Toyota, we are continuously expanding our line-up of electrified vehicles, including HEVs and battery EVs. We want to provide customers with the choices that best fit their conditions,” it added.

TMP, in its 78-hectare Philippine Economic Zone Authority-registered facility in Santa Rosa, Laguna, has the capacity to produce three models: Vios, Innova, and Tamaraw.

Asked if they plan to integrate EV manufacturing in the facility, it said, “It is one of the company’s aspirations.”

“To that end, TMP contributes to the continuous development of the entire manufacturing industry, including automotive parts and component manufacturers,” it said.

“EV manufacturing would require a whole-of-industry approach and strong support from the government to boost localization capabilities and raise the regional competitiveness level of the Philippines,” it added.

In 2024, the company expects its auto parts export sales to hit $1.21 billion, rising to $1.28 billion in 2025.

Bid invite issued for Mindoro cruise ship port

December 30, 2024 | 7:45 pm

Puerto Galera, Oriental Mindoro — TRAVELORIENTALMINDORO.PH

THE Philippine Ports Authority (PPA) has issued a bid invitation to construct a P706.05-million cruise ship port in Puerto Galera, Oriental Mindoro.

In a bid notice, the PPA said the winning contractor is required to build the project at the Poblacion site in Puerto Galera within 780 days.

Interested parties will have until Feb. 5, 2025 to submit bids, the port regulator said. Eligible to bid are those that have a track record of building similar projects.

Any bids received in excess of the approved budget for the contract and bids submitted late will be rejected, the PPA said.

The winning bidder for the project will also be tasked with constructing the backup area and rock causeway, a reinforced concrete pier, and trestle, according to the PPA.

The PPA previously announced plans to enhance its port facilities, including the development of dedicated ports to bolster cruise tourism.

In the next four years, the PPA has set aside about P16 billion to fund its infrastructure projects, including 14 flagship projects due to be completed during the period.

The PPA has said that it is hoping to increase passenger traffic by about 5% by year’s end. The passenger total was 73.63 million in 2023.

The PPA reported that passenger traffic rose 10.3% to 60.47 million in the nine months to September.

The PPA’s website lists the Ports of Currimao in Ilocos Norte, Salomague in Ilocos Sur, Manila, Bohol, and El Nido in Palawan as currently equipped to accommodate cruise vessels. — Ashley Erika O. Jose

Tariffs saved on banana exports to South Korea estimated at $189M

December 30, 2024 | 7:42 pm

THE PHILIPPINES is expected to book savings worth $189 million on banana exports over five years as the Philippines-South Korea free trade agreement (FTA) comes into force, the Department of Trade and Industry (DTI) said.

Export Marketing Bureau Director Bianca Pearl R. Sykimte said that the FTA will immediately reduce tariffs for Philippine banana exports by 6 percentage points this year.

“And that will be 12 percentage points by Jan. 1, 2025. Because when we implement FTAs, year 1 will always be the date of entry into force, and year 2 will always be Jan. 1,” she told reporters in an online briefing last week.

“If we base it on Korea’s $210-million imports of bananas from us, approximately, we have $12.6 million in tariff savings per year because of the tariff reduction. By year 2, we will have over $25 million in tariff savings,” she added.

Trade Undersecretary Ceferino S. Rodolfo said that the FTA will reduce the Philippines’ tariff disadvantage against South Korea’s other FTA partners.

“For example, Vietnam. By next year, Vietnam will have 0% duty on its bananas shipped to Korea. For us, that is 30% without the FTA,” Mr. Rodolfo said.

In 2012, the Philippines used to account for 98.2% of South Korea’s banana imports. However, this fell to 69.1% last year after other countries secured lower tariffs through FTAs.

The DTI reported that Costa Rica, Honduras, Peru, and Vietnam enjoy zero duty on their banana exports to South Korea, while Australia and Panama are charged 6% and 8% tariffs on their banana exports.

Under the pre-FTA regime bananas from the Philippines and Cambodia are subject to a 30% tariff.

“Since it became zero-duty for some of our competitors, like Vietnam, Costa Rica, and Peru, they were able to gain significant market share in the Korean market. So, we lost about 29% of the market,” Ms. Sykimte said.

Aside from bananas, she said that there will also be gains in other industries such as machinery, transport equipment, and garments.

The DTI estimates that the Philippines’ $9 million worth of machinery and transport equipment exports will be subject to tariff elimination in five to 10 years, while its $9-million exports of garments will be subject to tariff elimination in three years.

Asked if the tariff savings will affect prices of goods from Korea, Ms. Sykimte said: “It would depend on the business model involved — if they pass the savings on to the supply chain to charge the consumer less,” she said.

Mr. Rodolfo said that the level of competition in the Philippine consumer market will also be a factor on whether the tariff savings will be reflected in the prices of goods.

“In the first place, the tariff for all of the products where the Philippines gave concessions is already low, as they are also covered under the ASEAN-Korea FTA and the Regional Comprehensive Economic Partnership,” he said.

“I think most of them have 5% duty. So, if they get lower tariffs, it will only have a minimal impact. If there will be tariff savings, I think they will pass it on to the consumers,” he added. — Justine Irish D. Tabile

Pineapple exports to grow 16% in 2024 — FAO

December 30, 2024 | 7:41 pm

pineapple-dole-philstar — PHILSTAR FILE PHOTO

PINEAPPLE exports from the Philippines are expected to grow 15.8% to 692,365 tons this year due to favorable growing conditions, the Food and Agriculture Organization (FAO) of the United Nations said.

According to the FAO’s Major Tropical Fruits Market Review, global exports of pineapples are expected to grow 4% to 3.3 million tons in 2024.

“(This is) determined largely by higher supplies from Costa Rica and the Philippines, the world’s leading exporters, with market shares of around 65% and 21%, respectively,” the FAO said.

According to the FAO, preliminary trade data as of August show a 3% year-on-year increase in pineapple shipments to China, the leading recipient of pineapples from the Philippines.

China is the third-leading global importer of pineapples. Despite having the capacity to produce around 2 million tons of pineapples annually, the FAO said that changing consumer preferences, such as growing demand for premium pineapples, drove China’s growth in imports.

According to the FAO, the MD2 variety of pineapples from the Philippines is highly sought after in China.

“Further key import markets for pineapples from the Philippines remained Japan and the Republic of Korea over the first eight months of 2024, at quantity shares of some 33% and 16%, respectively,” it said.

“Shipments of Filipino pineapples to both destinations expanded substantially from the previous year, by a reported 28% to Japan and 37% to Korea,” it added.

According to the FAO, the average export unit value of shipments from the Philippines to world markets stood at $617 per ton during the first eight months, a year-on-year increase of 5%.

Meanwhile, pineapple shipments from Costa Rica are expected to rise 3% to 2.1 million tons. These mostly go to the US and European Union.

“The average export unit value of shipments from Costa Rica to world markets stood at $564 per ton over the first eight months of 2024, a year-on-year increase of 3%,” according to the report.

The report, however, estimates a 9.84% decline in Philippine mango, mangosteen, and guava exports to 13,141 tons and a 24.5% dip in papaya exports to 7,545 tons.

The FAO estimates global exports of major tropical fruits to grow 2% to $11 billion this year, with global exports of mango, mangosteen, and guava expected to grow 3% to 2.5 million tons and exports of pineapple to increase by 4% to 3.3 million tons.

Meanwhile, global exports of avocado and papaya are expected to rise 2% and 1%, respectively. — Justine Irish D. Tabile

Singapore carbon credit deal seen accelerating climate action — ACEN

December 30, 2024 | 7:41 pm

Power-plant-pollution — BRENDAN O'DONNELL-UNSPLASH

By Ashley Erika O. Jose, Reporter

AYALA-CONTROLLED ACEN Corp. said the Philippine agreement with Singapore to collaborate on carbon credits are a pathway towards accelerating climate action.

“(Transition credits are) progressing nicely. The recent development here is the MoU (memorandum of understanding) between the Philippines and Singapore,” ACEN President and Chief Executive Officer Eric T. Francia told reporters recently.

The Philippines and Singapore signed in August a memorandum of understanding to collaborate on carbon credits in line with Article 6 of the Paris Agreement.

The MoU signifies the two countries’ intent to collaborate to attain their sustainability targets, exchange best practices, and explore the development of high-integrity carbon markets.

“The next step is to have that implementation agreement. The Philippine government needs to set up its carbon framework and policies,” Mr. Francia said.

The Paris Agreement binds its signatories to take action in arresting the warming of global temperatures to well below 2°C compared to pre-industrial levels. Signatories have committed to action plans keeping warming at 1.5°C.

ACEN, the energy arm of the Ayala Group, has said that transition credits can help in the early retirement of coal-fired power plants in favor of renewable energy.

Transition credits are a complementary financing mechanism that ensure a just energy transition by leveraging carbon finance to replace fossil-fuel sources with clean energy.

Mr. Francia said the Philippines does not need a carbon tax to achieve its climate goals.

“We need to have the proper registry and accounting system. We do not need a carbon tax to establish that system. People might equate setting up a carbon policy and a framework and a registry with carbon tax which can be quite controversial,” he said.

Singapore’s carbon tax allows companies to use international carbon credits to offset their carbon emissions.

“Singapore has a carbon tax regime. The good thing about Singapore is they open the purchase of international carbon credits. That is what we are planning to tap as a source of demand for these transition credits,” Mr. Francia said, noting that a government-to-government agreement will be needed to qualify their credits to Singapore’s carbon taxpayers.

“That’s why we need that government-to-government or article six agreement, so that our credits will qualify as marketable to the Singapore carbon taxpayers… That’s what we need so we could be suppliers of high-end energy carbon credits,” he said.

ACEN has recently partnered with The Coal to Clean Credit Initiative to use carbon finance to retire its coal power plant.

The energy company is exploring the use of transition credits to accelerate the retirement of the 246-megawatt South Luzon Thermal Energy Corp. coal-fired power plant as early as 2030.

This initiative is in line with ACEN’s ambition of 20 gigawatts of renewable energy by 2030 and the complete shift of its power generation portfolio to 100% renewable energy by 2025.

Small PHL EV production capacity to limit competitiveness with foreign rivals

December 30, 2024 | 7:41 pm

By Almira Louise S. Martinez, Reporter

THE Electric Vehicle Association of the Philippines (EVAP) said its members are “far behind” international brands and will struggle to compete due to the limited scale and sophistication of domestic-based production.

“Local manufacturers do not have the capacity in terms of technology and capitalization,” EVAP President Edmund A. Araga told BusinessWorld in an interview.

“We are far beyond compared to competitors outside the Philippines,” he added.

According to the Department of Energy (DoE), the lack of familiarity with electric vehicle (EV) technology among consumers and industry participants impacts consumer confidence and slows the pace of adoption.

It added that the EV industry is experiencing challenges with “limited manufacturing capacity, an underdeveloped value chain, and insufficient investments in charging systems and services.”

“Local EV companies should first be strengthened and expanded to meet domestic demand, and eventually compete with international brands,” the DoE said in an e-mail.

The DoE is monitoring the progress of the Electric Vehicle Industry Development Act and the Comprehensive Roadmap for the EV Industry (CREVI) to address these shortcomings.

Key measures include the “rollout of EV charging infrastructure, provision of fiscal incentives for both manufacturers and consumers to reduce cost, awareness campaigns, and capacity-building initiatives, including research and development efforts.”

“That’s why we’re looking for solutions and the right programs that will set forth the rollout of our local manufacturers,” Mr. Araga said.

“We need to give emphasis to local manufacturing,” he added.

According to October data from the Board of Investments, domestic EV sales have totaled 15,000 units, subject to validation in the Motor Vehicle Registration data.

Hybrid EVs were the most popular type of EV on the market in 2023, followed by battery electric vehicles, the DoE said.

In 2025, the DoE sees growth in the Philippine EV market. The CREVI projects sales and registrations of 311,700 units in a business-as-usual scenario.

Navigating transfer pricing in 2024: Key insights and developments

December 30, 2024 | 7:40 pm

Today marks the last day of 2024. As we bid farewell to 2024, let me wrap up the key topics and insights discussed in our monthly Let’s Talk TP articles throughout the year. From the implications of BEPS Pillar 2 to the intricacies of intercompany financial transactions, we explore the critical issues surrounding transfer pricing.

BEPS PILLAR 2 AND THE TAXATION OF PHL ENTITIES OF MNES
Early this year, we released an article about the Base Erosion and Profit Shifting (BEPS) Pillar 2 framework. The framework has evolved to address global tax challenges, particularly with the rise of digitalization. BEPS 2.0 focuses on ensuring profits are taxed where economic activities occur. Pillar 2, which includes the global anti-base erosion (GloBE) rules and the subject-to-tax rule (STTR), aims to impose a global minimum tax rate.

Under the GloBE rules, the Organisation for Economic Co-operation and Development (OECD) has recommended that the income inclusion rule (IIR) and qualified domestic minimum top-up tax (QDMTT) become effective in 2024, while the undertaxed profits rule (UTPR) becomes effective in 2025. Meanwhile, STTR, being a treaty-based rule, can only be implemented through bilateral negotiations and amendments to individual tax treaties or as part of a multilateral convention.

The impact on Philippine entities includes potential changes in tax rates and the need for local adoption of OECD guidelines. As countries begin implementing these rules, Philippine entities must prepare for the potential implications on their tax strategies and compliance requirements. The adoption of these guidelines will require significant adjustments in tax planning and reporting for MNEs operating in the Philippines.

TRANSFER PRICING AND INTER-COMPANY LOANS
Previously, we touched upon the financial transactions between related parties. The key message of the article is to ensure that intercompany financial transactions are at arm’s length. The Bureau of Internal Revenue (BIR) and OECD provide guidelines for testing the arm’s length nature of interest payments. Key considerations include delineating financial transactions, benchmarking interest rates, and assessing debt capacity to ensure compliance and avoid tax adjustments. The guidelines from the BIR and OECD emphasize the importance of accurately characterizing financial transactions and determining whether they should be treated as debt or equity, which has significant tax implications. Proper documentation and analysis are essential to support the arm’s length nature of these transactions and to defend against potential tax authority challenges.

TRANSFER PRICING AND CASH POOLING
Cash pooling, a popular method for efficient cash management among MNEs, involves either the physical or notional pooling of cash balances. Transfer pricing implications include accurately delineating transactions and appropriately remunerating cash pool leaders and members. Setting up an arm’s length cash pooling arrangement requires careful analysis of the transaction’s characterization, and the functions, risks, and rewards of all parties involved. The OECD guidelines highlight the need for proper documentation and analysis to ensure that cash pooling arrangements are compliant with transfer pricing rules. This includes understanding the economic substance of the transactions and ensuring that the remuneration reflects the functions performed and risks assumed by each participant.

REMEMBERING THE IMPORTANCE OF TRANSFER PRICING
In observance of All Souls’ Day in November, we published an article about remembering the importance of transfer pricing. Transfer pricing rules are designed to prevent profit shifting and ensure multinational companies pay their fair share of taxes. These regulations are rooted in the need for fairness and equity.

Compliance involves submitting BIR Form No. 1709 and maintaining detailed transfer pricing documentation (TPD). This includes keeping records of intercompany transactions and performing thorough analyses to justify arm’s length pricing. Vigilant documentation is crucial to prepare for scrutiny from tax authorities.

Non-compliance can lead to fines, penalties, and reputational damage. Advance Pricing Arrangements (APAs) provide certainty and clarity, helping businesses navigate complex transfer pricing issues.

TRANSFER PRICING RULES FOR BPO COMPANIES
Our last article delved into Business Process Outsourcing (BPO) companies. The CREATE MORE Act has significantly impacted the IT-BPO sector, introducing lower corporate income tax rates and flexible work-from-home arrangements. BPO companies must ensure their operations align with transfer pricing rules and maintain adequate documentation. Key concepts include the arm’s length principle, entity characterization, and the selection of appropriate transfer pricing methodologies (CUP, CPM, TNMM). The article discusses the specific challenges faced by BPO companies and the importance of thorough documentation and analysis to support their transfer pricing positions. BPO entities must carefully analyze their functions, assets, and risks to determine the appropriate transfer pricing method and ensure that their pricing reflects the economic reality of their operations.

TRANSFER PRICING HANDBOOK
In December, we released our transfer pricing handbook, both physical and digital copies, to the public for free. The handbook aims to help taxpayers become aware of the basic concepts of transfer pricing, compliance requirements, and transfer pricing audit guidelines in the Philippines. The handbook is structured in a question-and-answer format for ease of understanding.

TAKEAWAYS
As we conclude 2024, it is evident that transfer pricing remains a dynamic and complex area of taxation. The articles published throughout the year have highlighted the critical need for taxpayers to stay informed and compliant with evolving regulations. By understanding and addressing the various transfer pricing issues discussed, businesses can better navigate the challenges and opportunities in the global tax landscape. As we look forward to 2025, continued vigilance and proactive management of transfer pricing practices will be essential for ensuring fair and transparent transactions.

Let’s Talk TP is an offshoot of Let’s Talk Tax, a weekly newspaper column of P&A Grant Thornton that aims to keep the public informed of various developments in taxation. This article is not intended to be a substitute for competent professional advice.

Nikkolai F. Canceran is a partner from the Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd.

pagrantthornton@ph.gt.com

Familiar foe Vietnam looms if PHL hurdles Thais

December 30, 2024 | 6:20 pm

VIETNAM punched its ticket to the finals of the Asean Mitsubishi Electric Cup and stands in the Philippines’ way should the Pinoy footballers take care of business against holder Thailand late Monday.

The Vietnamese beat Singapore in the second leg of their semifinal duel at the Viet Trio Stadium Sunday night, 3-1, to win the two-game tie with a goal aggregate of 5-1.

Nguyen Xuan Son, who sealed Vietnam’s 2-0 away victory in Leg 1, opened scoring from the spot in the first minute of first-half stoppage time then doubled the lead with a 63^rd minute strike.

Kyoga Nakamura pulled one back for the Lions in the 74^th before Nguyen Tien Linh iced it with an injury-time penalty.

The Golden Star Warriors, champions in 2008 and 2018 and runner-up in 2022, now await the outcome of the match between the Philippines, whom they played to a 1-1 draw in Manila in Group B, and the War Elephants.

The Philippines took a 2-1 lead against the three-peat-seeking Thais after an unforgettable result in Leg 1 last Friday in Manila.

They sought to complete their takedown of the seven-time titlists with a draw or a win in the crunch match in Bangkok.

Vietnam is set to host the first leg of the championship on Jan. 2 in Viet Tri City before the two-leg series swings to its opponent’s turf three nights later. — Olmin Leyba

Seven ejected late in Heat’s comeback win over Rockets

December 30, 2024 | 6:19 pm

TYLER HERRO recorded game highs of 27 points and nine assists before being ejected during a hostile final minute as the Miami Heat rallied from a 12-point second-half deficit to beat the host Houston Rockets 104-100 on Sunday.

Herro was one of five players tossed in the final 47.4 seconds after Nikola Jovic’s 3-pointer gave Miami a 98-94 lead.

Houston’s Fred VanVleet was ejected first for arguing a five-second call on the Rockets’ ensuing inbounds play. Twelve seconds later, Herro and Rockets forward Amen Thompson ignited a skirmish that led to both being disqualified along with Heat guard Terry Rozier and Houston guard Jalen Green. Rockets head coach Ime Udoka and assistant Ben Sullivan were also kicked out.

Jovic tacked on two free throws after the chaos to help Miami close out the win. He finished with 18 points, seven rebounds and six assists off the bench.

Haywood Highsmith tallied 15 points and eight rebounds for the Heat, who played a fifth consecutive game without Jimmy Butler. Bam Adebayo paired 12 points with 10 boards.

Dillon Brooks scored a team-high 22 points for Houston after missing the last three games with right ankle soreness. Alperen Sengun added 18 points and 18 rebounds, while Green scored 19 points before his ejection.

Herro led a 20-9 run that closed Miami to within 82-81 at the end of the third quarter. He also fueled the Heat down the stretch in the fourth, assisting on Highsmith’s tying 3-pointer with 4:47 left before adding a 9-footer for a 95-94 lead with 1:56 to play.

Brooks tallied nine points during a 14-2 spurt early in the third quarter that pushed the Rockets to a nine-point lead. Green’s 3-pointer made it 73-61 with 5:19 left in the third before Miami began to chip away behind Herro, who finished the quarter with 11 points and four assists.

The Heat used a 12-0 run to build a 31-27 lead after the first quarter.

Neither team gained control of the second as Miami carried a 53-50 lead into the break.

Rozier led the Heat with 12 points in the first half, while Sengun paced Houston with 14. — Reuters

Darnold-led Vikings down Packers for ninth straight win

December 30, 2024 | 6:16 pm

SAM DARNOLD completed 33 of 43 passes for a career-best 377 yards to go with three touchdowns and one interception, and the Minnesota Vikings escaped with a 27-25 win over the Green Bay Packers on Sunday in Minneapolis.

Justin Jefferson had eight catches for 92 yards for Minnesota (14-2), which won its ninth game in a row. Jalen Nailor, Jordan Addison and Cam Akers had one touchdown reception apiece for the Vikings.

Jordan Love completed 19 of 30 passes for 185 yards and one touchdown for Green Bay (11-5). Josh Jacobs and Emanuel Wilson each rushed for a touchdown and Malik Heath had a touchdown catch for the Packers, who lost to the Vikings for the second time this season.

Minnesota’s nine-game winning streak matches its third longest in franchise history. The Vikings are enjoying their longest stretch of success since 1975 when they won 10 straight.

Green Bay rallied with back-to-back touchdowns in the fourth quarter to pull within two.

Wilson scored on a 5-yard run to cut the Packers’ deficit to 27-18 with 6:12 to go.

Love brought Green Bay within 27-25 with 2:18 to play. He fired a 3-yard touchdown pass to Heath, who scored on a quick slant.

The Vikings got the ball on the following kickoff and never gave it back to Green Bay. Darnold secured the win when he lobbed a pass to Akers for a first down to set up the victory formation.

The Packers opened the scoring late in the first quarter with a 22-yard field goal by Brandon McManus.

Minnesota responded to grab a 13-3 lead at the half.

Darnold found Nailor for a 31-yard touchdown with 11:52 remaining in the first half. Nailor was wide open and made a basket catch near the back of the end zone.

Reichard rounded out the first-half scoring with field goals from 25 yards and 50 yards.

The Vikings increased their lead to 20-3 on the opening drive of the second half. Addison made a diving grab for an 18-yard touchdown.

Green Bay pulled within 20-10 with 5:07 left in the third quarter. Jacobs scored on a 2-yard run.

Darnold’s third touchdown pass, this time to Akers, made it 27-10 in favor of the Vikings with 51 seconds remaining in the third quarter. — Reuters