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Tag: Beatrice M. Laforga
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno said monetary policy easing will not be as “aggressive” this year compared to 2019 and will be delivered at a slower pace as inflation is expected to stay within target, and with other data showing the economy remains strong.
THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday as rates declined across-the-board amid strong demand.
YIELDS ON THE Treasury bills (T-bills) to be auctioned off on Monday will likely move sideways amid strong liquidity.
THE government’s tax take from Philippine offshore gaming operators (POGOs) and their service providers grew nearly 170% to P6.42 billion in 2019 amid a compliance crackdown, the Department of Finance (DoF) said Sunday.
TAX collections by local government units (LGU) topped P200 billion in the nine months to September, with nearly half consisting of business taxes, the Bureau of Local Government Finance (BLGF) said.
THE Bureau of Internal Revenue (BIR) has suspended the deadlines of filing and payment of tax returns in Batangas to provide relief to the residents affected by the eruption of Taal Volcano, until the situation returns to normal.
THE PHILIPPINE ECONOMY grew by 6.4% in the fourth quarter, its fastest pace for 2019 on the back of robust household spending and a rebound in government spending, but was not enough to hit the full-year goal, the Philippine Statistics Authority (PSA) reported yesterday.
PRESIDENT Rodrigo R. Duterte has given formal approval to initiate a review of an agreement to develop land owned by the University of the Philippines (UP), his spokesman said, adding to the list of allegedly one-sided deals entered into by past governments that has called into doubt the viability of long-term agreements undertaken by some of the country’s biggest firms.
THE Department of Budget and Management (DBM) has set deadlines for spending the 2020 Budget, requiring agencies to wrap up capital outlays for infrastructure projects by the end of the year while giving them until the end of 2021 or later to disburse funds to finance the completion procedures for these projects.
CHEVRON Philippines Inc. said on Wednesday that its lease contract with a subsidiary of state-led National Development Co. (NDC) had been beneficial for both the government and the company, with the deal entered into “in compliance with all Philippine laws and regulations.”
THE ASEAN+3 Macroeconomic Research Office (AMRO) maintained its growth forecast for the Philippine economy at 6.4% this year but revised its inflation rate projection upwards.
THE Bureau of the Treasury could offer all its offshore bond issuances within the first half of the year after successfully securing all the necessary approvals, a top official said.
THE Department of Finance (DoF) said on Tuesday that the lease contract between a unit of a state-led corporation and privately owned Chevron Philippines, Inc. contains “onerous” provisions as the oil firm is paying lower-than-market rental fees on a government property in Batangas.
THE National Economic and Development Authority (NEDA) said it is counting on the passage of priority bills this year, particularly the remaining tax reform packages and measures regulating land use and enhancing disaster resiliency.
THE Bureau of Internal Revenue (BIR) has released the collection targets for its various regional offices, led by its Makati operation, which has been set a goal of P129.51 billion.
THE Tourism Infrastructure and Enterprise Zone Authority (TIEZA) said it accepts the need to “rationalize” the travel tax a day after the Department of Finance threatened to take it away due to alleged underspending by the agency.
THE peso moved sideways on Friday on the back of a “disappointing” US-China phase one trade deal and as big data releases next week pushed investors to the sidelines.
THE Department of Finance (DoF) assured that the inflationary impact of Taal Volcano’s eruption will be minimal and manageable, its top official said Thursday.
THE PHILIPPINE Deposit Insurance Corp. (PDIC) paid a total of P1.18 billion in deposit insurance last year to 51,278 valid deposit accounts, it reported on Thursday.
FINANCE Secretary Carlos G. Dominguez III said Thursday he will seek to lower the documentary stamp tax (DST) to restore the Department of Finance’s original program when it proposed legislation that later became the Tax Reform for Acceleration and Inclusion Act (TRAIN).
FITCH SOLUTIONS Macro Research said the government’s plan to impose price controls on a list of widely-used drugs will be positive for the market over the long term but will likely threaten the operations of multinational drugmakers, whose business models are based on expensive medicines under patent protection.
THE government could respond to a Supreme Court ruling increasing local governments’ share of national government revenue by shifting more of its functions to the local level, Finance Secretary Carlos G. Dominguez III said.
THE Philippines “gave up its sovereignty” in negotiating the water privatization contracts in 1997 at a time when the government could not improve its water distribution system using its own resources, Finance Secretary Carlos G. Dominguez III said.
FOOD PRICES, particularly of chicken and pork, may spike if the unrest at Taal Volcano in Batangas continues, as the Calabarzon Region is considered as a major source of livestock in the country, according to an economist.
THE Duterte administration will likely leave an estimated P1.4 trillion worth of infrastructure projects in the pipeline that will be up for implementation by the next administration, according to the Department of Finance (DoF).
TAAL VOLCANO’S eruption has damaged more than P500 million worth of crops and livestock, the Department of Agriculture said on Tuesday.