MANILA, Philippines — The government is seeking to further boost the domestic capital market by harmonizing tax rates on capital income and financial products as proposed under the fourth tax reform package, the Department of Finance (DOF) said Wednesday. In a presentation to the House Committee on Ways and Means, Finance Undersecretary Karl Kendrick Chua […]
Read MoreMANILA, Philippines — The national government’s fiscal deficit widened by 78 percent to P378.2 billion in the nine months to September, already accounting for three percent of the country’s gross domestic product. Tax effort meanwhile, improved by 0.7 points to 15.2 percent, the highest tax effort ever recorded during the period owing to the implementation […]
Read MoreMANILA, Philippines — State-run National Food Authority has failed anew to secure the 203,000 metric tons (MT) of rice via government to government (G2G) scheme after Thailand and Vietnam exceeded the agency’s reference price. During the bidding on Tuesday, the governments of Thailand and Vietnam both offered bids that were way above the NFA reference […]
Read MoreMANILA, Philippines — Foreign direct investment (FDI) inflows dropped by more than 41 percent to a five-month low of $752 million in August from $1.28 billion in the same month last year amid concerns over rising interest rates and slower economic expansion, according to the Bangko Sentral ng Pilipinas (BSP). This was the lowest level […]
Read MoreMANILA, Philippines — The Philippines and Indonesia have agreed to strengthen their cooperation against smuggling, a move seen to pave the way toward improved regional efforts against illicit cross-border trade, according to the Department of Finance (DOF). In a letter, Finance Secretary Carlos Dominguez and Indonesian Finance Minister Sri Mulyani Indrawati said they are both open to work with their countries’ respective customs […]
Read MoreMANILA, Philippines — Rising prices of power and fuel are becoming major roadblocks to increasing foreign investment in the country, an economist from the Asian Institute of Management (AIM) said. In a presentation made during the recent 4th International Symposium on Asian Development Studies hosted by the Philippine Institute for Development Studies (PIDS), AIM economist […]
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