The Court of Tax Appeals (CTA) has denied for lack of merit the petition of Calumpit Multi-Purpose Cooperative (CMPC) which contested the seizure, auction and forfeiture in 2018 of its P68.4 million worth of imported rice from Thailand. The case started on Sept. 9, 2015 when CMPC was granted a...
The government could lose around P20 billion to P22 billion in revenues this year due to the 15 percent tariff reduction on rice imports, Finance Secretary Ralph G. Recto said. Recto, however, said that this could be offset through lowering inflation, which would lead to possible cut on interest...
(Keith Bacongco/MANILA BULLETIN) Following the Palace-ordered tariff cut on rice imports, House Deputy Minority Leader and Basilan lone district Rep. Mujiv Hataman says he is mulling the filing of a measure that would enhance the protection and...
House Speaker Martin Romualdez (Ellson Quismorio/ MANILA BULLETIN) The Bangko Sentral ng Pilipinas (BSP) can help maximize the expected reduction on retail prices of rice by keeping the peso at "reasonable levels" against the United States (US) dollar. This was...
Quezon 1st district Rep. Wilfrido Mark Enverga (Contributed photo) The Palace-ordered reduction on the duties imposed on imported rice won’t lead to reduced government support for rice farmers. Quezon 1st district Rep. Wilfrido Mark Enverga,...
(MANILA BULLETIN) House Speaker Martin Romualdez has quelled concerns that the reduction on imported rice tariff rate from 35 percent to 15 percent would lead to the local market getting "flooded" with imported rice, to the detriment of Filipino farmers....
Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) President Marcos' decision to slash reduce the tariff on rice imports from 35 percent to 15 percent bodes well for price stability on the staple grain. Thus, said...
Senators have expressed differing opinions on the newly approved reduction tariff on rice by the National Economic and Development Authority (NEDA) that has already been approved by President Marcos. NEDA Secretary Arsenio M. Balisacan said that the reduction tariff on rice from 35 percent to 15...
President Marcos' chief economic manager said that despite the global decline in prices, the consistently high local costs of rice remain a key concern. In a statement, Finance Secretary Ralph G. Recto pointed out the substantial price gap of rice between the current market prices and those of last...
The Philippine Statistics Authority (PSA) estimated that the decrease in rice tariffs from 35 percent to 15 percent could potentially reduce rice prices by P6 to P7 per kilo. In a briefing on Wednesday, June 5, PSA Undersecretary Claire Dennis S. Mapa said that these estimates were made taking into...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The so-called "Young Guns" of the House of Representatives gave their thumbs up Wednesday, June 5 to Malacañang's decision to drastically reduce the tariff on rice imports...
House Speaker Martin Romualdez (left), President Ferdinand "Bongbong" Marcos Jr. (Speaker’s office) "Mr. Rice" House Speaker Martin Romualdez has praised President Marcos' move to slash the tariff for imported rice from a hefty 35 percent to...
