THE PHILIPPINES is “largely compliant” with international frameworks against tax fraud, according to the latest review of the Organization for Economic Cooperation and Development (OECD), even as it cited areas of concern. “This second-round report concludes that the Philippines is rated largely compliant overall,” which was the same rating in the 2013 first-round report, according […]
Read MoreMANILA, Philippines — Monetary policy responses to inflation were timely and appropriate amid calls for more forceful policy action, according to Bangko Sentral ng Pilipinas (BSP). In his speech during the 2018 mid-year economic briefing organized by the Institute of Corporate Directors, BSP Governor Nestor Espenilla Jr. said the successive rate hikes in May and […]
Read MoreWASHINGTON — Federal Reserve Chairman Jerome Powell told lawmakers Tuesday that strong economic growth will keep the central bank on a path to gradually raise interest rates. But he noted that President Donald Trump’s get-tough trade policies run the risk of dampening future growth if they lead to permanently higher tariffs. Delivering his twice-a-year report on […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) is planning to submit to Congress Packages 3 and 4 of the Comprehensive Tax Reform Program (CTRP) by the end of the month, according to Finance Secretary Carlos Dominguez. Dominguez said the agency would soon be handing over to Congress its proposal on the two tax reform […]
Read MoreMANILA, Philippines — The implementation of the tax reform law at the start of the year boosted the sales of convenience store giant Philippine Seven Corp. (PSC) by 23 percent in the first half. Lawrence de Leon, head of finance at PSC, said in a disclosure that system-wide sales amounted to P22.17 billion from January […]
Read MoreMANILA, Philippines — More foreign capital went out of the Philippines for a second consecutive month, reflecting market jitters stoked by rising inflation and a weaker peso, the Bangko Sentral ng Pilipinas reported on Thursday. Registered foreign portfolio investments, also known as “hot money” for their volatility, recorded a net outflow of $516 million in […]
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