2019

Duterte nixes amnesty for tax cheats

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By Ben O. de Vera, February 17 2019;Philippine Daily Inquirer https://business.inquirer.net/265214/duterte-vetoes-provision-in-new-law-for-general-tax-amnesty Image Credit to Inquirer.net There will be no lifting of bank secrecy for tax purposes and no general tax amnesty in April, the deadline for filing of income tax returns. President Rodrigo Duterte has vetoed a provision in Republic Act (RA) No. 11213, or […]

2019

BSP takes heart from rice tariffication, charter change

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By Melissa Luz T. Lopez, February 18 2019; Business World https://www.bworldonline.com/bsp-takes-heart-from-rice-tariffication-charter-change/ Image Credit to Business World TWO NEWLY ENACTED LAWS are seen to strengthen operations of the Bangko Sentral ng Pilipinas (BSP), with monetary officials noting they will now have a better handle on inflation as well as on the financial system. BSP Deputy Governor Diwa […]

2019

Duterte signs BSP charter improvement measure into law

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By Bernadette D. Nicolas, February 16 2019; Business Mirror https://businessmirror.com.ph/2019/02/16/duterte-signs-bsp-charter-improvement-measure-into-law/ Image Credit to Business World President Duterte has signed into law a measure that provides improvements to the Bangko Sentral ng Pilipinas (BSP) Charter. Republic Act 11211 amends the Central Bank’s charter, paving the way for a more forceful inspection and disciplinary authority over the […]

2019

Anti-red tape body may exempt some agencies from EoDB deadlines

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By Janina C. Lim, February 14 2019; Business World https://www.bworldonline.com/anti-red-tape-body-may-exempt-some-agencies-from-eodb-deadlines/ Image Credit to Philippine Star THE Anti-Red Tape Authority (ARTA) will now allow government agencies claiming to be covered by special laws to be exempted from the timelines for processing transactions under the Ease of Doing Business (EODB) law. Trade officials have said previously that the […]

2019

Marawi rehab drive raises nearly P42B

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By Melissa Luz T. Lopez, February 15 2019; Business World https://www.bworldonline.com/marawi-rehab-drive-raises-nearly-p42b/ Image Credit to Reuters THE GOVERNMENT has so far raised nearly P42 billion for the rehabilitation of Marawi City, the Department of Finance (DoF) said, representing two-thirds of the amount needed to rebuild the war-torn city. In a statement, the department said it now […]

2019

DAR lines up intensified CLOA distribution to CARP beneficiaries

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By Jonathan L. Mayuga, February 15 2019; Business Mirror https://businessmirror.com.ph/2019/02/15/dar-lines-up-intensified-cloa-distribution-to-carp-beneficiaries/ Image Credit to Business Mirror The Department of Agrarian Reform (DAR) has lined up a series of certificates of land ownership award (CLOA) distribution, as it steps up the processing of land-distribution under the Comprehensive Agrarian Reform Program (CARP). The DAR’s latest thrust is consistent with […]

2019

Nothing to do with press freedom, DOJ chief says of Ressa’s arrest

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By Joel R. San Juan, February 15 2019; Business Mirror https://businessmirror.com.ph/2019/02/15/nothing-to-do-with-press-freedom-doj-chief-says-of-ressas-arrest/ Image Credit to CNN Philippines JUSTICE Secretary Menardo I. Guevarra on Thursday dismissed the claim of Maria Ressa, chief executive officer and executive editor of online news provider Rappler, and her supporters that her arrest in connection with her cyber libel case represents a political persecution and […]

2019

Insurance firms allowed to invest in infrastructure projects

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By Rea Cu, February 15 2019; Business Mirror https://businessmirror.com.ph/2019/02/15/insurance-firms-allowed-to-invest-in-infrastructure-projects/ Image Credit to Business Mirror INSURANCE companies in the country have been given the go-ahead by regulators to invest their funds in state-led infrastructure projects, in a bid to boost the growth of the Philippine economy and help these firms meet the higher net worth requirement imposed […]

2019

Truckers face new regulation

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By Melissa Luz T. Lopez, February 14 2019; Business World https://www.bworldonline.com/truckers-face-new-regulation/ Image Credit to Rappler THE BUREAU of Customs (BoC) now requires trucking services to register with it, despite concerns from an industry group that its members are already heavily regulated. Customs Memorandum Order 05-2019 requires truckers offering services to Customs ports to register under the […]

2019

More funds needed to hike social outlay

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By Melissa Luz T. Lopez, February 14 2019; Business World https://www.bworldonline.com/more-funds-needed-to-hike-social-outlay/ Image Credit to Business World THE PHILIPPINES can afford to increase state spending on social protection to help attain better living conditions by 2030, but it will have to raise more revenues to do so, the Asian Development Bank (ADB) said in a report released […]