Retailers support VAT on digital transactions
PHILIPPINE RETAILERS are calling for the immediate approval of a bill that would impose a 12% value-added tax (VAT) on digital transactions in the country as the industry sees increasing competition from foreign e-commerce companies that are not subject to local taxes.
Contact center industry set to rebound this year
THE PHILIPPINE contact center industry expects to grow its full-time employee headcount by as much as 9% this year, which it says is higher than the global average, despite continued challenges amid the prolonged pandemic.
BSP rate hikes could come sooner due to inflation surge
THE CENTRAL BANK may push for rate hikes sooner next year if inflation remains elevated, Moody’s Analytics said.
Lockdown likely hurt Q3 GDP growth
THE PHILIPPINE economy likely grew at a much slower pace in the third quarter compared with the previous three months, after the Delta-driven surge in coronavirus cases prompted a stricter lockdown in the capital region.
Gov’t asked to tweak WFH rules for BPOs
THE PHILIPPINE Economic Zone Authority (PEZA) on Monday said it has asked the Finance and Trade departments to allow information technology-business process outsourcing (IT-BPO) companies to implement work-from-home (WFH) operations that are equivalent up to 90% of their total revenues.
Pandemic slows work on foreign-funded projects — NEDA
DISRUPTIONS caused by the coronavirus disease 2019 (COVID-19) pandemic has slowed down the implementation of 59 ongoing programs and projects funded by official development assistance (ODA), the National Economic and Development Authority (NEDA) reported.
Nearly all businesses provided aid for workers — survey
NEARLY ALL businesses provided support for their workers despite the economic challenges brought by the coronavirus disease 2019 (COVID-19) pandemic, according to a survey among business groups.
Property price slide worsens in Q2
RESIDENTIAL PROPERTY PRICES in the second quarter contracted at its steepest rate since 2016, primarily due to the continued decline in prices of condominium units and single houses amid the prolonged pandemic.
Marawi rehab, 2 power projects top Mindanao business sector’s priority list
THE BUSINESS SECTOR in Mindanao has passed a resolution listing shelters in Marawi City and two big-ticket power facilities as the top infrastructure projects that they want government to prioritize for completion.
BSP warns play-to-earn gamers on potential illicit activities
THE CENTRAL BANK warned the public that illicit financial activities may occur through “play-to-earn” online games, even as it recognized such platforms have the potential to boost financial inclusion and digital payments in the country.
August BoP surplus biggest in 4 months
The Philippines’ balance of payment position (BoP) hit $1.044 billion in August, the highest in four months, due to increased special drawing rights (SDR)...
Consumers less pessimistic in Q3 — BSP
Consumers were less pessimistic in the third quarter as more jobs opened up, but business sentiment turned sour amid a fresh surge in coronavirus...