MANILA, Philippines — The Department of Finance said Wednesday the government is setting up an interagency database of foreign nationals working in the country to monitor them and ensure they pay the right taxes. In a statement, the DOF said the Bureau of Internal Revenue and Department of Labor and Employment are developing the database […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said the economy likely grew by about six percent in the second quarter after easing to a four-year low of 5.6 percent in the first quarter. BSP Deputy Governor Diwa Guinigundo told reporters on the sidelines of the 2019 pre-State of the Nation Address (SONA) economic […]
Read MoreMANILA, Philippines — Philippine manufacturing activity registered a subdued recovery in June, bucking the contraction in factory output in the ASEAN region, according to the latest IHS Markit Manufacturing Purchasing Managers’ Indices (PMI). Local goods producers in the Philippines reported an expansion in new orders amid a soft increase in new orders. Export sales, meanwhile […]
Read MoreMANILA, Philippines — Foreign direct investment (FDI) inflows into the country can increase three-fold by amending three key investment laws that would ease restrictions on capital from overseas, the National Economic and Development Authority (NEDA) said yesterday. During the Pre-State of the Nation Address (SONA) economic and infrastructure forum yesterday, Socioeconomic Planning Secretary and NEDA […]
Read MoreMANILA, Philippines — Businesses and commodity prices are threatened by a Bureau of Customs (BOC) order requiring meat importers to pay the higher duty of 40 percent on mechanically deboned meat (MDM) which became effective with the implementation of the rice tariffication law, meat traders said. The Meat Importers and Traders Association (MITA) slammed the […]
Read MoreMANILA, Philippines — The cost of acquiring homes rose for the seventh straight quarter in the first three months this year after a series of interest rate hikes by the Bangko Sentral ng Pilipinas (BSP) last year to curb rising inflationary pressures. The BSP reported over the weekend that property prices continued to pick up […]
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