Exporters have welcomed the creation of the new economic team under President-elect, Ferdinand Marcos, Jr., saying the appointees have the expertise and competence needed to steer the country toward recovery amid unprecedented economic and fiscal challenges. Dr. Sergio Ortiz-Luis, Jr., president of...
Malacanang has ratified the Regional Comprehensive Economic Cooperation (RCEP), a mega free trade deal seeking to grant zero duty on goods traded among 15 countries that account for 29 percent of global gross domestic product. The document was ratified by President Rodrigo Duterte on September 2...
Exporters are optimistic to sustain the growth trajectory the industry is currently experiencing citing support from the SB Corporation with the creation of emergency fund for freight costs and additional demand from the Christmas season. 32748 Sergio Ortiz-Luis Jr. , president of Philippine...
Export-oriented businesses are allowed to continually operate 100 percent capacity and unhampered during the enhanced community quarantine (ECQ) period from August 6 to 20. The Philippine Exporters Confederation (PhilExport) issued this advisory to members to continue their operations at full...
In view of the continuing adverse impact of the COVID-19 pandemic, the Department of Finance has deferred Revenue Regulation No. 9-2021 (RR 9 – 2021) that imposed the value-added tax (VAT) on exporters’ purchases from local suppliers and other indirect exports. This is a timely shot-in-the-arm,...
Senator Imee Marcos on Friday, July 23, appealed to the Bureau of Internal Revenue (BIR) to exclude manufacturers of personal protective equipment (PPE) and other medical supplies from the imposition of value-added tax (VAT) on local inputs. Trade Secretary Ramon Lopez (center) inspects the face...
The Department of Finance (DOF) is reviewing the Bureau of Internal Revenue’s (BIR) regulation, technically deferring the imposition of the value-added tax (VAT) on exporters’ purchases from local suppliers and indirect/constructive export transactions. Finance Secretary Carlos G. Dominguez III...
The Philippines' status as the world's second top exporter of Cavendish banana is still threatened by the continuous infestation of Panama disease, now considered one of the most destructive plant diseases globally. Pilipino Banana Growers and Exporters Association (PBGEA) Chairman Alberto Bacani...
Twenty industry associations on Tuesday, ( July 13) issued an urgent call on government to repeal Bureau of Internal Revenue Regulation 9-2021 that implements 12 percent value added tax (VAT) on exporters’ domestic purchases and indirect exports as this further erodes the competitiveness of the...
On worsening supply chain, logistics constraints Exporters are seeking “very urgent” government assistance to cope with worsening supply chain and logistics constraints, including lack of vessel space, soaring freight rates and container shortage, resulting in shipment delays and huge...
Philippine exporters are advised to consider the - Green Deal - principle in the 27-EU member countries as this new trend will affect buying preference. Commercial Counsellor Benedict Uy of the Philippine Embassy in Belgium & Permanent Mission to the European Union during a virtual...
Foreign business chambers and exporters groups have urged for the passage of other economic bills pending in Congress to complete the new Republic Act 11534, the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which they said is one of the most important fiscal bills enacted in...
