MANILA, Philippines — Think tanks Focus Economics and BMI Research said the pace of economic expansion in the Philippines would further ease over the next two years after peaking at nearly seven percent in 2016. Massimo Bassetti, economist at Focus Economics, said they see the country’s gross domestic product (GDP) growth slowing to 6.6 percent […]
Read MoreLower corporate income taxes should come with a reduction in business incentives to limit the impact on government revenues, the Finance department said. Finance Undersecretary Karl Kendrick Chua said that least P26 billion had to be raised for every percentage point cut to the corporate income tax rate, which the government is planning to reduce […]
Read MoreThe Philippines’ tax effort improved in 2017 from a year earlier on the back of double-digit collection growth at the Bureau of Internal Revenue (BIR), the agency’s chief claimed on Thursday. Tax collection as a percentage of gross domestic product (GDP) rose to 11.26 percent from 10.8 percent in 2016, BIR Commissioner Cesar Dulay said […]
Read MoreMANILA, Philippines — The Philippines advanced two notches in the 2018 Inclusive Development Index (IDI) of the World Economic Forum which measures the ability of advanced and emerging economies to foster inclusive growth and development. The country now ranks 38th among 74 emerging economies for the 2018 index. Last year, the Philippines ranked 40th out […]
Read MoreMANILA, Philippines — The Philippines may impose up to 50 percent duty on imported rice as lawmakers finalize the amendments to the Agricultural Tariffication Act, which replaces quantitative import restrictions with tariffs. Sen. Cynthia Villar, who chairs the Committee on Agriculture and Food, said lawmakers would likely consider up to 50 percent rice tariff, based […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has resolved at least eight of the 10 banking-related complaints last year as it continued to strengthen consumer protection. In its 2017 year-end report on Financial Inclusion Initiatives, the BSP said its Financial Consumer Protection Department (FCPD) headed by director Pia Roman-Tayag managed to resolve 83 […]
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