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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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BPI Asset Management and Trust Co., the asset management arm of the Bank of the Philippine Islands (BPI), expects the peso to continue to weaken and end at 51.90 to $1 by the end of 2018.

The Board of Investments (BOI) plans to extend additional incentives to companies looking to invest in Marawi and nearby towns to jumpstart the rehabilitation and recovery in the war-torn area.

PayMaya Philippines Inc. has partnered with McDonald’s Philippines, allowing the fastfood chain’s outlets to accept cashless payments.

The stock market closed flat yesterday, still unable to recover after its recent correction, as investors recalibrate their portfolios, analysts said.

The World Bank has approved an additional $170 million financing for the Philippine Rural Development Project (PRDP), which seeks to create an inclusive, value chain-oriented and climate resilient agriculture sector in the country.

With the outcome of the review of the European Union General System of Preferences Plus (EU GSP+) expected to come out this month, the Philippines remains hopeful the regional bloc considered the country’s case objectively and retain its current set of trade privileges.

EasyCall Communications Philippines Inc. will continue to focus its efforts on data communications and satellite technology to bring connectivity to far-flung areas of the country.

The Philippine Competition Commission (PCC) has given the go-signal to the transfer of state-run Philippine Postal Savings Bank’s assets to the Land Bank of the Philippines, a development toward establishing the Overseas Filipino Bank promised by President Duterte.

A modern, state-of-the-art central district will soon rise from what used to be the Matina Golf Club in Davao City.

BMI Research expects credit growth to normalize in the next two years as the rising interest rates over the coming quarters would soften the performance of the banking industry.


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