MANILA, Philippines — Excise taxes collected from cigarette products rose to P147.4 billion in 2019, making up more than half of the Bureau of Internal Revenue’s (BIR) “sin tax” collections during the period, the Department of Finance (DOF) said. According to data from the DOF, excise tax collection from tobacco products last year rose almost […]
Read MoreMANILA, Philippines — Singapore-based ASEAN+3 Macroeconomic Research Office (AMRO) has retained its 6.4 percent growth forecast for the Philippines this year, higher than the four-year low 5.9 percent growth last year. Based on results of its annual consultation report for the Philippines for 2019, the regional think tank said that stable macroeconomic fundamentals combined with […]
Read MoreTHE Philippine economy could be tested by a cooling property market, which would weigh on banks’ loan portfolios, an international economic watcher has warned. As such, financial surveillance must be tightened, especially on large conglomerates, the Asean+3 Macroeconomic Research Office (AMRO) suggested in a report on Tuesday. But, despite the challenges to the Philippines’ growth, […]
Read MoreMANILA, Philippines — The Asian Development bank (ADB) is targeting to lend a record $3.3 billion to the Philippines this year, with around half to be provided in support of the government’s infrastructure program. This lending pipeline will likely include priority infrastructure projects such as the South Commuter Railway, the EDSA Greenways Pedestrian Walkways and […]
Read MoreMANILA, Philippines — Revenues generated by the government from the collection of rice import tariffs went down to P1.71 billion in the first one-and-a-half months of 2020 as the volume of rice shipments declined, the Department of Finance (DOF) said yesterday. Citing a report from the Bureau of Customs (BOC), DOF said rice import tariffs […]
Read MoreMANILA, Philippines — The Department of Agriculture is bent on canceling the existing sanitary and phytosanitary import clearances (SPSIC) of those who failed to bring in the volume they applied for to prevent palay (unhusked rice) prices from declining. “We have enough rice. We have inventory good for 90 to 94 days plus the harvest […]
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