Downward Philippine inflation in the near term would be slightly offset by the new law imposing 12-percent value added tax (VAT) on digital services, Singapore-based United Overseas Bank (UOB) said. In an Oct. 4 report, UOB senior economist Julia Goh and economist Loke Siew Ting noted that there is...
The Philippine Chamber of Commerce and Industry (PCCI) said that the imposition of value-added tax (VAT) on non-resident digital service providers creates a fairer competitive landscape for local businesses. In a statement, Enunina Mangio, PCCI president, said the recent signing of the VAT on...
Senator Grace Poe has filed a bill seeking the grant of a franchise to Starlink Internet Services Philippines Inc., which would allow far-flung communities to have access to online services. In filing Senate Bill (SB) No. 2844, Poe says the franchise is needed for the company to construct,...
President Marcos has signed into law Republic Act (RA) No. 12023 or the Value Added Tax (VAT) on Digital Services Law which imposes a 12-percent VAT on digital service providers (DSPs) to level the playing field for local providers and generate additional revenue that will be used to build more...
Maynilad Water Services, Inc. has recovered approximately 560,000 cubic meters of potable water lost due to illegal connections—enough to meet the daily needs of around 3,500 customers. In a statement, the West Zone concessionaire said that this recovery occurred within the first eight...
The United States, Japan and Korea are contributing a total of P1.6 billion in a span of five years to help the Philippines improve the health services being offered in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The US Agency for International Development (USAID), the Japan...
Producing way more than what humans can consume has been an “effective” way to burden the planet with piles of trash. If mismanaged or not recycled, these stay with us for several decades to dominate habitats, exacerbate climate change, and pose a risk to human health. To help curb massive...
Project sponsor-firm MGen Renewable Energy Inc. (MGreen), which is a subsidiary of Meralco PowerGen, has cemented a deal with affiliate Meralco Industrial Engineering Services Corporation (MIESCOR) for some construction components in the conglomerate’s $4.0 billion Terra Solar project. In a...
West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) has plugged more than 28,000 pipe leaks in the first half of 2024, bringing the company’s total number of leaks repaired to 523,111 since 2007 when it inherited one of the oldest pipe networks in Asia upon...
Real estate giant Ayala Land Inc. is planning to issue another P10 billion worth of Sustainability-linked (SL) Bonds after recently raising P20.5 billion from P6 billion in SL Bonds and P14.5 billion in SL Loans from the International Finance Corporation (IFC). According to Philippine Rating...
East zone concessionaire Manila Water Co. will raise its water bills starting in October due to the recently approved Foreign Currency Differential Adjustment (FCDA). In a disclosure to the Philippine Stock Exchange on Monday, Sept. 16, Manila Water said consumers will experience a rate increase of...
On his birthday, President Marcos announced that zero-billing will be implemented in all tertiary public hospitals in the county. President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate) "This is my treat to you," Marcos said in his speech in Nueva Ecija as he announced that the government will be...
