Officials of the Bureau of Internal Revenue (BIR) and the Federal Tax Service (FTS) of Russia have met recently to discuss the latter’s best practices that could be applied in the Philippines to further improve its tax administration and compliance. On orders of Finance...
For the first time since late 2006, big banks’ outstanding loans declined by 0.7 percent year-on-year in December 2020 during the initial year of the COVID-19 pandemic which pulled the economy into a recession. Total bank lending net of banks’ reverse repurchase (RRP) placements with the Bangko...
The central bank’s term deposit facility (TDF) auction was still oversubscribed but results were mixed while yields continue to decline. “There was a slight undersubscription in the 7-day TDF, receiving bids 0.88x the offer volume. Meanwhile, the 14-day TDF was oversubscribed with bids 1.16x...
Agriculture lobby group Kilusang Magbubukid ng Pilipinas (KMP) asked the government to rule out importation in solving the supply and price crisis in the hog industry, which is now plagued by the fatal and highly contagious animal disease African Swine Fever (ASF). In a statement, KMP...
Finance Secretary Carlos G. Dominguez III has assured full support to the Department of Education’s (DepEd) efforts to ensure that Filipino learners continue their schooling despite the challenges brought by the coronavirus pandemic. MB file Dominguez said the DepEd's blended or hybrid learning...
A consumer group has called for “pork holiday” in protest of the high prices of pork in the local market and amid the inability of government and industry players to stop prices from rising.. MB file (Photo by Keith Bacongco) In a statement, Laban Konsyumer Inc. issued a challenge to consumers...
Government interventions in the highly vulnerable farm sector may be “too little or too late", which may be the reason for the sector's 1.4 percent decline in 2020. This is according to Federation of Free Farmers (FFF) National Manager Raul Montemayor, who said the Department of...
Agriculture Secretary William Dar said the drop in the agriculture sector’s contribution to the country’s gross domestic product (GDP) in 2020 was “negligible” and even took this as a sign of recovery for the sector. Department of Agriculture Secretary William Dar (Department of Agriculture...
The local stock market ended slightly weaker even after the government announced that the economy shrank by a lower rate in the last quarter. The main index shed 11.77 points or 0.17 percent to close at 6,851.84 with only the Property and Holding Firms counters remaining in the green. Volume...
Hit by calamities in 2020 A “perfect storm” – comprised of a series of typhoons, COVID-19 lockdown restrictions, the persistence of African Swine Fever (ASF), among other unfortunate scenarios – has challenged the agriculture sector in 2020, bringing down the total full-year output at -1.2...
The first batch of the P65 billion LRT- 1 Cavite Extension Project's 120 train cars from Spain and Mexico are now in the country. After 19 years of delay, the project is turning into reality, Department of Transportation (DOTr) Secretary Arthur Tugade yesterday announced during the trains' arrival...
The Philippine Association of Meat Processors Inc. (PAMPI) is asking President Rodrigo Duterte to authorize limited importation of up to 50,000 metric tons (MT) only at zero tariff at zero. MB file (Photo by Keith Bacongco) This developed as the group was not convinced by the proposal of the...
