MANILA, Philippines — The World Bank Group would cease publication of its “Ease of Doing Business” report — past results of which were protested by the Philippines twice — after a former official was found to have ordered staff to manipulate data to please China. In a statement on Friday, the Washington-based multilateral lender said it […]
Read MoreRatification of the Regional Comprehensive Economic Partnership (RCEP) will benefit the Philippines and help the country recover, speakers told an online forum organized by The Manila Times. The RCEP is a free trade agreement between the 10-member Association of Southeast Asian Nations (Asean), China, Japan, Australia, New Zealand, and South Korea. Signed just last November, it will have to be ratified by […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has raised the bar anew for designated payment systems (DPS) amid the surge in digital transactions due to mobility restrictions brought about by the pandemic. BSP Governor Benjamin Diokno said the Monetary Board issued Resolution 1132 last Aug. 26, approving the adoption of the Principles for […]
Read MoreMANILA, Philippines — Remittances from abroad climbed for the sixth straight month in July amid the continued reopening of economies hosting overseas Filipino workers (OFWs), according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said personal remittances rose by 2.6 percent to $3.17 billion in July from $3.08 billion in the same month […]
Read MoreMANILA, Philippines — The taxman will investigate 250 high-earning social media “influencers” to check whether they have been paying their taxes, as the government looks to cash in on the exponential growth of the digital economy amid the pandemic. Letters of authority (LOA) for the conduct of a probe have been sent to social media […]
Read MoreMANILA, Philippines — The Bureau of Internal Revenue (BIR) has ordered tobacco firms to attach the new internal revenue stamps on their products by Oct. 1 to prove their compliance with excise tax obligations. Under Revenue Regulations (RR) 18-2021, the BIR instructed domestic players to attach the new internal revenue stamps in packs and cartons […]
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