MANILA, Philippines — The Bureau of Internal Revenue (BIR) yesterday released the draft implementing rules and regulations (IRR) for the estate tax amnesty program, a measure seen to give taxpayers a one-time opportunity to clear up their estate tax liabilities. The agency also held public consultations for the draft Revenue Regulations (RR) to clarify any concerns from […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) yesterday stressed it has no power to manage supply and regulate the price of sugar amid claims made by Sugar Regulatory Administration (SRA) board members that the agency has failed to do its job. “Much as we would want to manage the supply and regulate the price of sugar to ensure […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) expects the country’s external payments position to remain healthy amid the sustained inflows. BSP Deputy Governor Diwa Guinigundo said the country continues to experience robust foreign direct investment as well as foreign portfolio investment inflows. Latest data showed the Philippines recorded a balance of payments (BOP) […]
Read MoreMANILA, Philippines — The Philippines is poised to become an upper-middle income economy this year, three years ahead of the government’s targeted schedule, according to the Department of Finance (DOF). With the strong resilience of the Philippine economy and the support of the World Bank, Finance Secretary Carlos Dominguez expressed confidence that the country is on track […]
Read MoreMANILA, Philippines — Three foreign groups are planning to submit business proposals for the possible takeover of the shipyard facility of financially troubled Hanjin Heavy Industries and Construction Philippines (HHIC-Phil Inc.) in Subic, according to the Board of Investments. Ceferino Rodolfo, BOI managing head and Department of Trade and Industry undersecretary, told reporters that Dutch shipbuilding firm […]
Read MoreMANILA, Philippines — Inflation remains a threat as expectations remain close to the upper end of the government’s two to four percent target, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo said inflation averaged 3.8 percent in the first three months of the year after a steady decline for the past five months. Inflation eased to […]
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