MANILA, Philippines — The sale of goods and services to Philippine Economic Zone Authority (PEZA) entities will remain subject to zero percent value added tax, clearing a confusion over President Duterte’s line veto of zero VAT rating on the sale of goods and services to separate customs territories under the TRAIN Law. The Philippine Exporters […]
Read MoreMANILA, Philippines — Economists now see inflation surpassing the four percent upper target set by the Bangko Sentral ng Pilipinas (BSP), which may prompt monetary authorities to raise interest rates as early as this quarter. Investment banks have raised their respective inflation forecasts for 2018 and 2019 after inflation leapt to a five-year high of […]
Read MoreMANILA: The Philippines’ anti-trust agency said on Saturday (Apr 7) it has ordered Uber Technologies Inc to continue domestic operations as it reviews the ride-hailing firm’s deal to sell its money-losing Southeast Asian business to rival Grab. The move puts another hurdle in the transaction, following an order by Singapore’s competition watchdog that Uber delay its shutdown by a […]
Read MoreMANILA, Philippines — IKEA will reportedly open its first store in the Philippines in 2020 that will be located at one of the country’s biggest shopping malls. IKEA Southeast Asia Managing Director Christian Rojkjaer said the global furniture retailer will build its first Manila store at SM Mall of Asia, which is operated by SM […]
Read MoreMANILA, Philippines (Updated: 2:27 p.m.) — The Bangko Sentral ng Pilipinas said on Thursday it will keep a close watch on overall increase in prices of key consumer items after inflation surged to a fresh peak in March. Headline inflation, based on the 2012 consumer price index series, accelerated to 4.3 percent last month, quicker than the 3.8 percent pace […]
Read MorePoverty reduction efforts are at risk from rising inflation and the government must implement immediate reforms to ensure that gains over the last few years are protected, the National Economic and Development Authority (NEDA) said on Tuesday In its newly launched Socioeconomic Report 2017, the NEDA said that poverty as of last year likely improved […]
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