MANILA, Philippines – The proposed tax reform package of the Department of Finance (DOF) will have a positive impact on the country’s economic growth, according to a senior official of the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo expressed support for the DOF’s proposed Comprehensive Tax Reform Program. “The BSP supports very strongly […]
Read MoreThe Department of Finance (DOF) expects the economy to grow by between 6.5 percent and 7 percent this year, citing brisk domestic production, a healthy foreign exchange buffer, a strong banking system and a young and educated workforce. Finance Secretary Carlos Dominguez 3rd also allayed concerns over the impact of global financial shocks such as […]
Read MoreTHE Philippine automotive industry expects sales to grow by about 11.7 percent this year, slightly lower than the desired 12 percent growth target, because of “unsatisfactory results” in the fourth quarter last year which could mean buying trends may be changing, an industry official said. “In the fourth quarter of 2016, we [Chamber of Automotive […]
Read MoreOn top of its intensified revenue collection and investment promotion efforts, the government is exploring hybrid-financing arrangements that will combine development aid and loans to fund its big-ticket infrastructure projects while keeping down borrowing costs, the Department of Finance (DoF) said. In a statement over the weekend, Finance Secretary Carlos Dominguez 3rd said hybrid financing […]
Read MoreTAXPAYERS, particularly foreign investors, seeking value-added tax credits and refunds now have two years to file appropriate documents instead of 120 days under a new set of rules issued by the Bureau of Internal Revenue. This new revenue regulation addresses the concerns of foreign investors, particularly the issues raised by the Japanese Chamber of Commerce […]
Read MoreMANILA – The Philippine economy grew by 6.6% from a year earlier in the fourth quarter of last year, bringing the full-year economic growth of the Southeast Asian country to 6.8%, authorities said on Thursday. The expansion of the country’s gross domestic product — the measure of the country’s economic output within its boundaries — […]
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