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The second package of the Duterte administration’s Comprehensive Tax Reform Program that seeks to attract more investors by reducing corporate income tax rates, among others, has entered the legislative.

Remittances from overseas Filipino workers continued to grow in November last year, bringing the 11-month tally 5.1 percent higher at $28.24 billion from the year-ago level of $26.88 billion, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

The Philippines has managed to stay out of the US list of “notorious markets” for piracy and trademark counterfeiting for the sixth straight year.


WHEN Yosemite Sam, the heavily bearded antagonist of Bugs Bunny grew tired of trying to beat his archenemy, he finally heaved a sigh of frustration and said, “If you can’t beat them, join them.”

Aside from roads and bridges under the government’s Build Build Build program, the other flagship infrastructure project of President Duterte deals with the highway of telecommunications.

A few days after President Duterte signed the first tax reform package into law, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 105-2017 to prescribe the withholding tax rates on compensation that shall apply beginning Jan. 1.

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The growth in the amount of money sent by overseas Filipino workers (OFWs) is expected to slow down at 4.7 percent in November 2017 due to base effects, according to British banking giant HSBC.

The delay in obtaining the right-of-way (ROW) access is one of the major problems to complete the implementation of the government’s Build Build Build programs and investors’ infrastructure projects.

State-run Social Security System (SSS) recorded a 52.37-percent decrease in net income in the first 11 months of 2017 due to an increase in disbursements following the P1,000 increase in the benefit of member-pensioners.

The Department of Agriculture (DA) is looking at changes in the computation of the country’s rice self-sufficiency level, saying that the one used by the Philippine Statistics Authority (PSA) is not accurate.

State-run National Food Authority (NFA) is allocating P5.1 billion for its palay-buying program nationwide to boost buffer stock and rice distribution requirements.

Businessman Manuel V. Pangilinan said the implementation of the tax reform law would not have a significant impact on his companies.

Manila Electric Co. (Meralco) is looking into the possibility of producing electric vehicles (EVs) to complete its e-vehicle supply chain offering with the advent of alternative vehicles in the country.

The Philippine Economic Zone Authority (PEZA) is inviting foreign investors to put up a new integrated steel mill in the country while at the same time brokering for the possible revival of the mothballed assets of National Steel Corp. in Mindanao.

Global aviation services provider PhilJets will expand its fleet this year as it continues to hitch a ride on the growing economy, spurred by the expansion of power companies, BPOs and agribusiness, its top official said.

Nuclear experts have recommended that the mothballed Bataan Nuclear Power Plant (BNPP) can still be rehabilitated, but the Department of Energy (DOE) will wait for the national nuclear policy before deciding whether it should proceed with the rehabilitation program.


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