Employers’ group presses for pay increases based on productivity
EMPLOYERS again pressed for a shift to “productivity-based” daily minimum wage raise during a public hearing on proposals to hike the floor pay of Metro Manila’s private sector workers on Friday last week.
IMF ups Argentina financing deal to $56.3 billion
WASHINGTON/BUENOS AIRES -- The International Monetary Fund (IMF) on Friday increased the size of a standby financing agreement for Argentina to $56.3 billion in a deal that toughens previously agreed fiscal measures.
Quezon City lawmakers move to suspend realty tax hike
CITING the country’s currently high inflation rate, Quezon City councilors have filed a measure that will suspend until after 2019, an election year, implementation of a hefty increase in real property tax that has been cleared by the Supreme Court to proceed.
Metro Manila wage board to decide ‘soon’ on pay hike pleas
METRO MANILA’s wage board will decide “as soon as possible” on labor groups’ petitions for an increase in daily minimum wage for the National Capital Region’s private sector workers after it wrapped up consultations on this matter on Friday.
Inflation elevated till yearend — BSP
WAGE and transport fare hikes will likely keep inflation high for the rest of 2018, the central bank said, adding that overall price increases are expected to moderate only next year.
BIR may defer notice of foreign tax probe
THE BUREAU of Internal Revenue (BIR) may now notify taxpayers that their information was sent to a requesting foreign tax authority as investigation reaches the final stages.
Agus-Pulangi sale on hold at least until after Bangsamoro vote
DAVAO CITY -- The privatization of the Agus-Pulangi hydroelectric power complex in Mindanao has been put on hold until after a plebiscite next year on Republic Act No. 11054, or the Organic Law for the Bangsamoro Autonomous Region in Muslim Mindanao.
DoF wants to make public list of businesses with tax perks
THE DEPARTMENT of Finance (DoF) wants to make public the names of businesses that avail tax incentives.
Japan, China seek warmer ties amid US trade friction
TOKYO -- Japan’s prime minister arrived in Beijing on Thursday for his first formal bilateral summit with Chinese leaders in seven years as the Asian rivals seek to build on a thaw in ties against a backdrop of trade friction with the United States.
QC realty tax hike cleared to proceed
THE SUPREME COURT has lifted the temporary restraining order (TRO) on a Quezon City 2016 ordinance that increased the fair market values of real property for taxation purposes, saying the petitioner Alliance of Quezon City Homeowners’ Association, Inc. (AQCHAI) had no legal capacity to file the case in the first place.
BSP expands opportunities under UITFs
THE CENTRAL BANK is expanding opportunities under unit investment trust funds (UITFs) by allowing placements in government-issued debt papers.
Employers warn of wage increase repercussions
EMPLOYERS’ GROUPS argued before Metro Manila’s wage board in consultations on Wednesday that the hefty increase in daily minimum pay for private sector workers sought by labor groups would hit businesses -- especially micro, small- and medium-scale enterprises -- hard and will likely cause inflation to spike further.