MANILA, Philippines — The European business community wants the Philippines to retain its current incentives regimes to keep the country’s competitive edge intact amid moves to rationalize fiscal incentives under the second tax reform package. “With regard to the rationalization of fiscal incentives or the creation of a competitive fiscal regime, we also call for […]
Read MoreMANILA, Philippines — The national government’s fiscal deficit narrowed to P350.6 billion in 2017, falling below the programmed deficit for the year amid higher revenue collections and below-target spending, the Bureau of the Treasury (BTr) reported yesterday. In its latest cash operations report released yesterday, the Treasury said the latest deficit figure was 27 percent […]
Read MoreMANILA, Philippines — Price pressure from the new tax reform law may be temporary and may not require policy response just like the previous tax reform programs, the Bangko Sentral ng Pilipinas (BSP) said yesterday. Zeno Ronald Abenoja, director at the BSP’s Department of Economic Research, said during the general membership meeting of the Bank […]
Read MoreMANILA, Philippines — The Philippine government saw its fiscal balance swing to a deficit in 2017 but settled way below target, although the country still spent less than programmed last year, the Bureau of the Treasury reported Tuesday. The national government clocked a P107.1 billion budget gap in December 2017, the biggest monthly shortfall in […]
Read MoreLowering corporate income taxes as proposed in the draft of the second package of the Comprehensive Tax Reform Program (CTRP) by the Department of Finance (DOF) would be cinch. More than being a campaign promise by the elected President in 2016 to the business community, it would simply bring the 30 percent CIT paid by […]
Read MoreThe economy is likely to expand further this year on the back of strong household spending and investments among other factors, Wallace Business Forum said. Gross domestic product (GDP) growth is expected to move nearer 7 percent in 2018, slightly better than the 6.7 percent posted in 2017, the consultancy said in a publication. The […]
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