The combined favorable impact of high coal prices as well as soaring prices in the Wholesale Electricity Spot Market (WESM) had propelled the 279-percent surge in consolidated net income of Consunji-led Semirara Mining and Power Corporation (SMPC) to P3.98 billion in the second quarter this year...
Aggressively fueled by ‘robust sales’, the net income of Uy-led Phoenix Petroleum Philippines Inc. had climbed 9.0-percent to P132 million in the second quarter vis-à-vis a leaner income of P121.3 million earnings in the last quarter. If compared to second quarter last year, the oil firm’s...
After string of losses in recent years, Pangilinan-led PXP Energy Corporation is finally showing green shoots of recovery to profitability, with a consolidated net income of P14 million in the first half of this year, a reversal of the P56.3 million losses posted in the same period last year. On a...
The capacity contributed by its Dinginin power plant which is undergoing commissioning and testing, as well as the higher dispatch of its generation facilities at the Wholesale Electricity Spot Market (WESM) had propped the remarkable 171-percent consolidated net income rise of Aboitiz Power...
Senators on Thurday, July 29, again called for an amendment of the country's tax code to provide a "permanent" solution to the erroneous interpretation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Senate President Pro Tempore Ralph Recto (Senate PRIB) Senate President...
With combined uptrend in energy sales and expanding customer base, the core net income of power utility giant Manila Electric Company (Meralco) had risen 8.0-percent to P11.399 billion in the first half of 2021 from the year-ago level of P10.588 billion. On the company’s reported net income, that...
Those with less income are “generally happy” than those with more, based on the results of a Philippine Journal of Science (PJS) study. (PEXELS) The study, which was conducted by Rosalina Palanca-Tan of the Department of Economics, Ateneo de Manila University in Koronadal City, revealed that...
It seems that Malacañang is unlikely to reverse a Bureau of Internal Revenue (BIR) rule imposing higher corporate income tax on private schools in the country for now. President Rodrigo Duterte (File photo/Malacañang) Presidential Spokesman Harry Roque declared Thursday that the Palace supports...
Senator Nancy Binay on Sunday urged the Bureau of Internal Revenue (BIR) to “have a heart” and spare private schools from a 150 percent increase in income tax. Binay said the BIR should withdraw its Revenue Regulation No. 5-2021 which seeks to impose higher income tax on so-called proprietary...
The Bureau of Internal Revenue (BIR) has reported that 1.43 million or 99.5 percent of all the income tax returns filed (ITRs) during the last tax filing season were filed online. In a report to the Secretary of Finance, the BIR said that only 7,139 returns were filed manually. This is clearly a...
As the Bureau of Internal Revenue (BIR) ramps up digitalization initiatives, the Department of Finance (DOF) reported that nearly all income tax returns (ITRs) were filed online during the last tax filing season. In a statement released by the DOF on Thursday, June 3, it cited a BIR report stating...
An estimated 1.6 million job opportunities will be created with household income substantially increased if the economic restrictions in the 1987 Constitution are relaxed, a University of the Philippines (UP) researcher said Sunday, May 30. DILG Spokesperson Jonathan Malaya (File photo courtesy of...
