MANILA, Philippines — Excise tax collections on sugar-sweetened beverages (SSB) fell short of target in the first 10 months of 2018, which the Department of Finance (DOF) blamed on possible discrepancies in the tax payment of beverage firms. In a report to Finance Secretary Carlos Dominguez, Finance Undersecretary Karl Kendrick Chua said excise tax collections […]
Read MoreMANILA, Philippines — The Philippines may post a slower economic expansion this year after the series of rate increases adopted by the Bangko Sentral ng Pilipinas (BSP) last year to rein in inflationary pressures, according to a France-based investment bank. Trinh Nguyen, senior economist of Natixis, said in its Asia Outlook 2019 the gross domestic […]
Read MoreMANILA, Philippines — Inflation may fall below six percent at 5.5 percent in December amid easing food and oil prices, according to Dutch financial giant ING Bank. Nicholas Mapa, senior economist at ING Bank Manila, said inflation index heavyweights food and energy-related sub-indices may pull inflation below the six percent level as supply chains normalize and global energy prices plunged faster in November. “The […]
Read MoreMANILA, Philippines — Term deposits fetched lower rates across all tenors as banks swarmed the first auction for 2019 with funds coming back into the financial system. The yield of the seven-day tenor dropped by 11.19 basis points to 5.0784 percent at the term deposit auction facility (TDF) from a record high of 5.1903 percent […]
Read MoreMANILA, Philippines — The Department of Finance on Thursday blamed sugary beverage manufacturers who “might not be paying the correct taxes” for the P10-billion shortfall in the government’s excise tax collection. The excise levies on sugar-sweetened drinks is one of the provisions under the Tax Reform for Acceleration and Inclusion Act that seeks to offset […]
Read MoreMANILA, Philippines — Manufacturing activities slowed in December as firms cut down on output and new orders, the latest reading of the Nikkei Philippines Manufacturing Purchasing Managers Index (PMI) showed. The headline manufacturing PMI for the Philippines fell to 53.2 in December from 54.2 in November. The quarterly PMI average in the three months to […]
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