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Philippines: Excise tax take up 12% in Sept – DoF

EXCISE tax collections by the Bureau of Internal Revenue posted double-digit growth in September on the back of improved monitoring and higher payments by the tobacco industry, a Department of Finance official said. Collections reached P17.7 billion up 12 percent from a year earlier, Finance Undersecretary Antonette Tionko told reporters, “Now, of that amount, the […]

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Philippines: Dennis Uy inks deal for FamilyMart PH

Davao-based businessman Dennis Uy is venturing into the convenience store business, on Monday inking a deal to purchase the local operations of Japan’s FamilyMart via listed firm Phoenix Petroleum Philippines, Inc. In a disclosure, Phoenix said it had inked a memorandum of understanding with SIAL CVS Retailers, Inc. and Japanese firms FamilyMart Co., Ltd. and […]

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Philippines rice import dependence down to 5%

MANILA, Philippines — The Philippines is gradually decreasing its dependency on imported rice after the country’s import dependency ratio went down to five percent last year from 11 percent in 2015. Based on a report from the Philippine Statistics Authority (PSA), the rice import dependency ratio decreased to 4.99 percent in 2016 from 11.07 percent […]

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