DoF mulls tweaks to CITIRA bill
THE Department of Finance (DoF) is looking to tweak the Corporate Income Tax and Incentives Rationalization Act (CITIRA) proposal and allow the government’s incentive-giving body to provide “tailored” relief programs for firms hit by the coronavirus pandemic.
BIR collection slips amid lockdown
THE Bureau of Internal and Revenue (BIR) missed its collection target by 13% in March, as the government began tightening lockdown restrictions to curb the spike in coronavirus disease 2019 (COVID-19) infections.
DoF proposes key changes to mining fiscal reform bill
THE FINANCE department is proposing a simplified fiscal regime for the Philippine mining industry that is seen to generate as much as P10 billion in additional revenues every year.
6 deals signed during Duterte-Xi’s 8th meeting
PRESIDENT Rodrigo R. Duterte and Chinese President Xi Jinping on Thursday witnessed the signing of six bilateral agreements between the Philippines and China, including a $219-million loan for the Philippine National Railways (PNR) South Long Haul Project.
Inflation accelerates for a second month in a row in March
By Luisa Maria Jacinta C. Jocson, Reporter
Headline inflation quickened for a second straight month in March as prices of rice continued to surge, the...
PHL sees 2M visitor arrivals by yearend
THE PHILIPPINES is expected to record over two million tourist arrivals by the end of the year, putting it on track to return to pre-pandemic levels by 2024, the Tourism Congress of the Philippines (TCP) said on Monday.
ADB pares Philippine growth projection
THE ASIAN DEVELOPMENT BANK (ADB) has slashed its Philippine economic growth forecast for this year, citing impact of the four-month delay in 2019 national budget enactment and slowing export of goods and services -- although the country will still be the region’s third-fastest growing economy behind Vietnam and China.
San Miguel acquires Masinloc power plant
A SUBSIDIARY of San Miguel Corp. (SMC) has acquired the 630-megawatt (MW) Masinloc coal-fired power plant in Zambales for $1.9 billion, the conglomerate announced...
RBAP says raising capital requirements to hurt small lenders
REGULATORY REFORMS that will require bigger capital for rural banks which would encourage mergers may be detrimental to small lenders that have been affected by the pandemic, according to the Rural Bankers Association of the Philippines (RBAP).
Assets of Philippines’ largest banks expand by 9.5% in 1st quarter
THE COMBINED ASSETS of the Philippines’ largest banks grew by nearly 10% in the first quarter compared with a year earlier, driven by lower interest rates.
Inflation slows to three-month low
Inflation eased to a three-month low in October amid a slower increase in food prices, the Philippine Statistics Authority reported on Friday.
Headline inflation settled...
Tighter watch looms on realty loans
THE CENTRAL BANK plans to roll out by next year new tools to better monitor lending to the volatile real property sector, according to a senior official of the Bangko Sentral ng Pilipinas (BSP).