MANILA, Philippines — Rates for short-term government securities plunged yesterday following the central bank’s surprise 50-basis-point rate cut last week, according to the Bureau of the Treasury (BTr). During yesterday’s auction, the 91-day Treasury bills (T-bills) fetched an average rate of 1.746 percent, 32.2 basis points lower than the 2.068 percent recorded last week. Healthy […]
Read MoreMANILA, Philippines — The Bureau of Internal Revenue (BIR) is giving taxpayers more time to file for value-added tax (VAT) refund claims amid movement restrictions to slow the spread of the coronavirus disease 2019 or COVID-19 outbreak. On June 24, the Department of Finance (DOF) and the BIR issued Revenue Regulations (RR) 16-2020, extending anew […]
Read MoreMANILA, Philippines — Singapore-based DBS Bank Ltd. expects the Philippine economy to slump this year by as deep as four percent for the first time in more than two decades amid the high number of new cases of coronavirus disease 2019 or COVID-19, adding to an already sizeable number of existing cases. In a report, […]
Read MoreGDP slump worsens in Q2 — BSP MANILA, Philippines — A deeper economic slump looms in the second quarter, with gross domestic product (GDP) contracting by as much as 6.7 percent due to the full impact of the tight lockdown aimed at preventing the spread of the coronavirus disease, the Bangko Sentral ng Pilipnas said. […]
Read MoreThe webinar organized by the Carlos P. Romulo Foundation and the Makati Business Club last June 23 on the topic “Digital Readiness for the New Normal” provided some insights on the government’s economic recovery plan from the coronavirus disease 2019 or COVID-19 pandemic in which digital connectivity will play a major role. Acting NEDA Secretary […]
Read MoreMANILA, Philippines — The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) is offering tax incentives for the renovation of tourism enterprises and lowering its permit fees to P1 as part of efforts to aid the recovery of the tourism sector. In a statement, TIEZA said its board recently approved the grant of tax incentives to […]
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