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THE BILL reducing the corporate income tax and streamlining fiscal incentives will likely be approved on second reading in the House of Representatives in two weeks, the head of the chamber’s Ways and Means committee said on Thursday.
A SECOND key tax reform -- which slashes corporate income tax rates but also streamlines investors’ perks -- hurdled a committee of the House of Representatives a day after another measure, which raises alcohol products’ excise tax rates, bagged approval from the same body.
FOREIGN AFFAIRS Secretary Teodoro L. Locsin, Jr. is considering opening up marine surveys of the Philippines’ exclusive economic zones (EEZs) to more foreign participation, subject to the condition that they use Philippine ships or cede leadership of the survey mission to Filipinos.
MEASURES amending the 82-year-old Commonwealth Act No. 146, or Public Service Act (PSA), to remove foreign ownership limits on sectors engaged in public services have been filed anew in the Senate.
INCREASING the state’s share in mining revenues is one of the tax reforms targeted by the government for enactment in the next two years, even as President Rodrigo R. Duterte did not mention it in his July 22 State of the Nation Address (SoNA), but it will take a back seat to the other measures, a senior official of the Department of Finance (DoF) said last weekend.
FOREIGN AFFAIRS Secretary Teodoro L. Locsin, Jr. on Sunday reached out to the United States for assistance in locating a missing plane and student pilot in Aurora.
CHINA signaled a crackdown on cross-border gambling after alleging that many its nationals working in the Philippine offshore gaming industry were recruited illegally.
THE SENATE committee on public services will hold on Tuesday a public hearing on the provincial bus ban, which was put on a test run Wednesday and worsened traffic along EDSA.
THE Senate finance committee has asked government agencies to report on their efforts to reduce red tape during budget deliberations for 2020, its chair Senator Juan Edgardo M. Angara said.
SENATOR Emmanuel J. Villanueva is drafting a resolution calling for an investigation into Philippine Offshore Gaming Operators (POGOs) and the industry’s failure to remit tax to the Bureau of Internal Revenue (BIR).
SENATORS said they intend to investigate the Department of Health after the Commission on Audit (CoA) found the department to have overstocked P18.4 billion worth of medicine, much of which is approaching their expiration dates.
INFRASTRUCTURE DAMAGE cost from the July 27 earthquakes in Itbayat, Batanes is so far estimated at P292.85 million, according to the Department of Public Works and Highways (DPWH).
MEASURES that will further liberalize the economy to attract more foreign capital and make it easier to do business in the country made up a list of 28 proposed laws which 14 local and foreign groups have pitched to the 18th Congress.
THE SENATE Ways and Means committee will conduct parallel tax reform hearings with the House of Representatives, while the Department of Finance (DoF) has begun meeting with both chambers, in order to ensure prompt approval of the bills.
THE LABOR department and the Senate have taken steps to revive a proposal that would tighten controls on labor contracting, a few days after President Rodrigo R. Duterte struck down a similar measure just before it would have lapsed into law last Saturday for unduly burdening business.
THE Senate economic affairs committee will focus on poverty reduction measures, its chairman, Senator Imee R. Marcos, said.
SENATOR VICENTE C. Sotto III on Monday maintained his post as Senate president for the 18th Congress.
THE SENATE will organize its committees on Tuesday to immediately begin with President Rodrigo R. Duterte’s “marching orders” during his fourth State of the Nation Address (SONA), Senate majority Leader Juan Miguel F. Zubiri said.
THE PHILIPPINES is on track towards the full integration of e-government systems by 2022 as key agencies push to become more digital.