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MAKERS of distilled spirits warned against excessive tax increases targeting the segment, saying that falling demand could leave the government with less revenue than it is projecting.
THE Philippine Extractive Industries Transparency Initiative (PH-EITI) has included its first assessment of small-scale miners in the Fifth Country Report.
PRE-NEED FIRMS that do not sell any type of plans will now have to maintain a minimum paid-up capital of P50,000, the Insurance Commission (IC) said.
THE gaming regulator said online gaming firms that evade taxes could face cancellation of their licenses and labor inspections, among other measures.
INSURANCE and reinsurance companies can now diversify their investment portfolio after the industry regulator okayed their participation in securities borrowing and lending (SBL) transactions.
FINANCE SECRETARY Carlos G. Dominguez III said he is looking forward to expanding the Philippines’ economic ties with China, citing the “synergy” to be realized from a closer “partnership,” while dismissing irritants to the bilateral relationship.
STATE-OWNED Development Bank of the Philippines (DBP) partnered with the Office of the Presidential Adviser on the Peace Process (OPAPP) in fund disbursement and management.
THE BUREAU of Customs (BoC) seized P53 million worth of smuggled food products from China at the port of Manila yesterday.
MALAYSIA and Singapore consider the Philippine excise tax on sugar-sweetened beverages (SSBs) a “successful fiscal policy intervention,” the Department of Finance (DoF) said.
PRESIDENT Rodrigo R. Duterte’s infrastructure projects, which will generate jobs and boost consumption, will spur economic growth and shield the country from a global economic slowdown, the Department of Finance (DoF) said on Monday.
GOVERNMENT subsidies to state-owned firms increased in July, the bulk of which went to the Land Bank of the Philippines (LANDBANK) as it started releasing fuel subsidies to jeepney drivers for this year, the Bureau of the Treasury (BTr) said.
LATE ENACTMENT of this year’s national budget continued to weigh on infrastructure spending in July, the Budget department reported on Thursday, even as it noted that a month-on-month surge showed “that disbursements are starting to normalize and accelerate in the second half…”
PRICE increases are expected to lose momentum until October before a recovery in headline inflation to around the 2% level in December, according to an economic bulletin issued by the Department of Finance (DoF).
PHILIPPINE Savings Bank (PSBank) is looking to raise its authorized capital stock to P6 billion in a bid to strengthen its capital structure and provide the lender flexibility.
THE National Economic and Development Authority (NEDA) said the trade war is expected to dampen Philippine growth by only a tenth of a percentage point, but highlighted the importance of improving the economy’s attractiveness to locators fleeing China.
THE Department of Finance (DoF) said it is considering a review of tax incentives granted to companies every two years to validate whether the perks given are having a “positive impact,” with the review period contained in upcoming tax legislation.
BUSINESS CONDITIONS for manufacturers in the Philippines can be expected to continue “modest” improvement in the face of an escalating Sino-US trade war that weighs on global growth prospects, a Cabinet official and private sector economists said on Tuesday.
THE DEPARTMENT of Finance (DoF) said state-owned Land Bank of the Philippines (LANDBANK) and Development Bank of the Philippines (DBP) will not have to remit around P15 billion to the government following the issuance of an order slashing their dividend rates on Monday.
BUSINESS CONDITIONS for factories in the Philippines improved “at a moderate rate” in August, with firms raising production “only modestly as new order growth fell from July levels,” according to results of a monthly survey IHS Markit conducts for Nikkei, Inc. that were released on Monday.