MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to slash interest rates two to three more times this year on the back of the continued inflation downtrend as well as slower economic growth. Chidu Narayanan, economist at Standard Chartered Bank, said the BSP would likely reduce interest rates by another 75 basis […]
Read MoreMANILA, Philippines — The Federation of Chinese Chambers of Commerce and Industry Inc. urged President Duterte to review the Rice Import Liberalization Law, saying it is drastically affecting farmers. In a press briefing on Friday, FCCCII president Henry Lim Bon Liong said farmers are already suffering because of the slump in the buying price of […]
Read MoreMANILA, Philippines — Economists of private banks lowered anew their inflation forecasts for this year and next year due to easing global crude oil prices, base effects, implementation of non-monetary policy actions and mitigating measures against El Niño, according to the results of a survey conducted by the Bangko Sentral ng Pilipinas. Dennis Lapid, officer-in-charge […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) has trimmed anew its growth forecast for the Philippines this year due to the dismal economic output in the first quarter. In a supplement to its Asian Development Outlook for this year, the Manila-based multilateral bank lowered its economic growth forecast for the Philippines to 6.2 percent […]
Read MoreMANILA, Philippines — There is no need to review the Rice Tariffication Law, the Department of Finance (DOF) said yesterday, as it noted that prices of rice have declined with the liberalization of rice imports. Farmers and rice industry stakeholders earlier called on the government to look into the loopholes in Republic Act 11203 or […]
Read MoreShould input value-added tax (VAT) or VAT passed on by a taxpayer’s supplier of goods or services be allowed as a deduction from income tax, if the claim for refund or tax credit was denied or disallowed? To answer that question, one has to understand the difference between income taxation and the imposition of VAT. […]
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