MANILA, Philippines – The Department of Finance (DOF) said over the weekend it is possibile to lower the value-added tax (VAT) rate in the Philippines from the current 12 percent once the government is able to clean up the tax system and plug leakages caused by the numerous VAT exemption privileges under the law. “Our […]
Read MoreMANILA, Philippines – The Philippines stands to benefit from an ongoing diplomatic crisis in the Middle East as more trade and investments are seen going toward the country, Philippine Economic Zone Authority (PEZA) director general Charito Plaza said. “The Qatar crisis is to our advantage because while they have an embargo with their neighboring countries, […]
Read MoreMANILA, Philippines – The proportion of government’s debt to gross domestic product (GDP) improved in 2016 due to debt management measures and robust economic growth during the period, the Department of Finance (DOF) reported yesterday. In a statement, the DOF said the government’s debt-to-GDP ratio in 2016 eased to 34.6 percent as compared to the […]
Read MoreMANILA, Philippines – Credit Suisse has lowered its gross domestic product (GDP) growth forecast for the Philippines to six percent instead of 6.4 percent this year amid the projected weak private consumption and slower exports. Michael Wan, economist at Credit Suisse, said in the bank’s latest fixed income research titled “Philippines – consumer pains: Turning […]
Read MoreMANILA, Philippines – The Philippine Economic Zone Authority (PEZA) expects approved investments this year to at least triple to P654.54 billion due to heightened foreign investor interest in the country, its top official said yesterday. With bullish investor sentiment, PEZA director general Charito Plaza said investment approvals by the agency may even quadruple to P872.72 […]
Read MoreMANILA, Philippines – The peso continued to lose steam, shedding another 19 centavos yesterday to hit its lowest level in almost three months as investors shifted their funds to safe havens due to the decision of the US Fed to return its interest rate policy to normal. The local currency closed at 50.29 to $1 […]
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