MANILA, Philippines — The prolonged delays in the proclamation of new economic zones are further hurting the output of the country’s biggest investment promotion agency, which is already reeling from uncertainties caused by the proposed rationalization of fiscal incentives under the second tax reform package. Philippine Economic Zone Authority (PEZA) manager for promotion and public […]
Read MoreMANILA, Philippines — The Philippines is expected to be the fastest growing economy in Southeast Asia and second fastest in the world over the next two years as it remains resilient to external shocks, according to the latest World Economic Outlook released by the International Monetary Fund (IMF). YongZheng Yang, IMF resident representative for the […]
Read MoreMANILA, Philippines — The Philippines is on its way to enjoying another banner year for foreign direct investments (FDI) this year as inflows jumped 57 percent in January amid the positive investor outlook on the country’s macroeconomic fundamentals, according to Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. Espenilla said on the sidelines of […]
Read MoreMANILA, Philippines — The local unit of American automotive brand Ford Motor Co. hopes to sustain throughout 2018 the growth it has so far enjoyed this year amid the slowdown currently plaguing most players due to the implementation of higher excise taxes on automobiles. Ford Philippines managing director Bertrand Lessard said the company is off […]
Read MoreMANILA, Philippines — The Philippines’ trade gap further widened in February, after exports fell for the first time in more than a year while imports posted double-digit growth, the government reported on Wednesday. The country’s trade deficit swelled to $3.06 billion in February 2018, higher than the $1.77 billion gap registered in the same month […]
Read MoreThe Bureau of Internal Revenue (BIR) issued early this year Revenue Regulations (RR) No. 6-2018 to revoke RR No. 12-2013 and to reinstate the provisions of RR No. 14-2002, as amended, allowing, in certain cases, the deduction of an expense where no withholding of tax was made. It may be recalled that RR No. 12-2013, […]
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