Philippine business optimism slips but still SE Asia’s second best
BUSINESS OPTIMISM in the Philippines slipped last quarter as against the year-ago level, although the country was still second-best in Southeast Asia, according to new research from Grant Thornton.
Gov’t all set for samurai bond sale
THE GOVERNMENT will soon proceed with its planned sale of yen-denominated bonds as it seeks to avail of favorable rates amid strong demand before the Aug. 11-Sept. 9 “ghost month” is well under way, a senior official who asked not to be identified told reporters on Tuesday.
Right-of-way issue hounds MRT 7
CONSTRUCTION of the Metro Rail Transit Line 7 (MRT-7) -- a project designed to offer more public transport options north of Metro Manila -- could face delays on right-of-way questions involving the project’s planned depot in San Jose del Monte, Bulacan.
Gov’t eases procedure for securing tax clearance
ALL APPLICATIONS for tax clearance required of prospective bidders for government contracts can soon be filed in regional offices of the Bureau of Internal Revenue (BIR).
Finance continues tracking revenues foregone due to perks
THE DEPARTMENT of Finance (DoF) argued on Monday that redundant tax incentives have continued to take more from the economy than provide benefits, with 645 enterprises enjoying such perks even after 15 years in business.
BSP considering the possibility of issuing digital currencies
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking into the possibility of issuing digital currencies at a time of increasing use, although industry experts cautioned that doing so could disrupt monetary policy operations.
Economists expect fresh rate hike
THE BANGKO SENTRAL ng Pilipinas (BSP) will most likely raise benchmark interest rates anew this week as inflation can be expected to have spiked further in July, analysts said in a BusinessWorld poll, with some noting there is room for a 50-basis-point (bp) hike to ease price pressures.
Poll sees Q2 GDP growth still robust
ECONOMISTS expect the country’s economic growth to have stayed robust in the second quarter despite faster inflation, as increased government spending and private investment offset a possible slowdown in household spending, results of a BusinessWorld poll showed.
Tax bureau clarifies property valuation
THE BUREAU of Internal Revenue (BIR) recently amended rules on the valuation of real property gifts for the computation of the donor’s tax in order to ease compliance.
DoF-backed mining tax reform filed in House of Representatives
A LAWMAKER has filed a mining tax reform bill in the House of Representatives that forms part of the second tranche of reforms designed to make the country’s taxation regime more equitable while generating additional revenues to support the government’s infrastructure development program.
PHL economy likely slowed in Q2 — Moody’s
PHILIPPINE economic growth may have decelerated in the second quarter weighed down by rising inflation despite robust consumption and investment, Moody’s Analytics said.
Fiscal deficit seen to fall below target this year
THE Philippines is expected to realize a fiscal deficit of 2.9% of gross domestic product (GDP) this year — slightly below the government’s 3% target — due to the sharp uptick in infrastructure spending, according to HSBC Global Research.