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THE GOVERNMENT is taking steps to persuade the succeeding administration to carry on stepped-up infrastructure development, even as a looming shift in form of government adds to uncertainties now hounding the economy, the state socioeconomic planner said on Monday.
THE PHILIPPINES is “largely compliant” with international frameworks against tax fraud, according to the latest review of the Organization for Economic Cooperation and Development (OECD), even as it cited areas of concern.
THE BUREAU of Customs (BoC) said it is hoping to implement a data-sharing system with other law enforcement agencies to aid anti-smuggling efforts.
THE ASIAN Development Bank (ADB) said reforming the corporate tax system is a matter of urgency, with successful reforms expected to bolster economic growth and reduce poverty.
THE FINANCE department is open to devolving some functions of the national government to local government units (LGUs) to comply with the Supreme Court ruling on internal revenue allotments (IRAs).
THE INSURANCE industry is unfazed by high inflation in the second quarter, the Insurance Commission (IC) said, as it hopes to sustain double-digit growth figures.
THE GOVERNMENT may not need to widen its fiscal deficit to comply with a Supreme Court ruling to provide local governments with their “just share” of national government revenue, the former governor who obtained the court decision said.
THE GOVERNMENT’S fiscal position may be at risk from the Supreme Court (SC) ruling that local governments’ share in state revenues includes all national government taxes, not just those collected by the Bureau of Internal Revenue (BIR), Budget Secretary Benjamin “Ben” E. Diokno said on Wednesday.
THE PHILIPPINES’ rank in terms of innovation was unchanged from a year ago, despite “high scores” in business environment, education and information and communications technology (ICT), according to an annual report of the Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).
THE GOVERNMENT’s governance and human development clusters yesterday presented their achievements in the past year, ahead of the State of the Nation Address (SONA) of President Rodrigo R. Duterte.
THE INSURANCE COMMISSION said Chinese firms are eyeing to support a non-life insurance company placed under conservatorship.
THE GOVERNMENT plans to borrow up to P1.189 trillion in 2019 to help finance its spending plan, 33.85% more than the P888.23 billion initially programmed for this year, National Treasurer Rosalia V. De Leon told reporters in a mobile phone message on Monday.
THE DEPARTMENT of Finance (DoF) said it will await the formal report from a public consultation that appeared to reject its preferred method of selecting the new entrant to the telecommunications industry, though the department’s head said the rejection came as “no surprise.”
THE NATIONAL Economic and Development Authority (NEDA) ruled out a legislator’s proposal to increase the monthly unconditional cash transfer (UCT) for poor families affected by the tax reform law.
THE DEPARTMENT of Finance (DoF) said its version of the planned tax amnesty offer scheduled for 2019 will increase collections and clear the case backlog for unpaid property tax.
THE DEPARTMENT of Finance (DoF) expects that inflation in June quickened further to a fresh six-and-a-half year high as seasonal rains pushed vegetable prices higher and households spent on education-related items as the new school year began.
THE ASIAN Development Bank (ADB) on June 21 said it approved a technical assistance grant for the Integrated Flood Risk Management Sector Project covering various river basins across the Philippines.
IMPROVEMENT in manufacturing activity eased in June from the preceding month as increases in output and new orders ebbed, according to the latest survey IHS Markit conducted for Nikkei, Inc. that nevertheless showed last month’s “solid” growth pushing the second quarter’s average Purchasing Managers’ Index reading higher than that of January-March.
THE DEVELOPMENT Budget Coordination Committee (DBCC) on Monday reiterated the government’s commitment to fiscal discipline as it adjusted key economic assumptions for the proposed 2019 spending plan.
FINANCE Secretary Carlos G. Dominguez III said the selection of the third entrant to the telecommunications industry must be “fair” to the public by making telcos pay to use the frequency they are allocated.
THE DEVELOPMENT Budget Coordination Committee (DBCC) will convene today to review key economic assumptions for the 2019 budget targeted to be submitted to Congress on the day of President Rodrigo R. Duterte’s third State of the Nation Address (SONA) this month.
GOVERNMENT revenue and disbursements as a share of the economy rose in the five months to May, the Department of Finance (DoF) said, improving the prospects for achieving economic growth targets this year.
THE GOVERNMENT now expects to complete nearly half of its 75 flagship infrastructure projects by the time President Rodrigo R. Duterte ends his six-year term due to efforts to address bottlenecks in approval, funding and implementation, the National Economic and Development Authority (NEDA) said in a briefing on Wednesday.
INFRASTRUCTURE and other capital outlays continued to surge in May, the Department of Budget and Management (DBM) said on Wednesday, backing projections that gross domestic product (GDP) growth caught up with the official target this quarter.
THE BUREAU of the Treasury (BTr) rejected all bids for the five-year bonds it offered on Tuesday as the market sought higher rates due to expectations of more policy adjustments from the local central bank.
THE Philippine and Japanese governments signed on Monday grant agreements worth 1.84-billion yen ($16.8 million) for a flood forecasting project in Cagayan de Oro, and a renewal of funding for a scholarship program for government officials.
THE BUREAU of Internal Revenue (BIR) has extended the deadline for processing value-added tax (VAT) refund claims affected by a 2014 rule that had initially denied many of them.