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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 additional fiscal space provided by the first tax reform law would be enough to fund the government’s programs and projects only until the third quarter, according to the Department of Finance (DOF).

Metro Pacific Investments Corp. (MPIC) has signed a syndicated  term loan facility amounting to P8 billion.

Energy Secretary Alfonso Cusi has ordered Manila Electric Co. (Meralco) to explain how it came up with the  eight centavos per kilowatt-hour (kwh) increase in electricity bills as a result of the Tax Reform for Acceleration and Inclusion (TRAIN) law.

A group of big car manufacturers on Friday said they expect a slowdown in sales growth this year following the approval of a new law that restructures the rates on excise tax imposed on automobiles.

The World Bank on Friday announced it has approved $170 million worth of additional financing for the Philippine Rural Development Project to boost incomes in the countryside and reduce poverty in the country.

The combined gross revenue of all 18 sectors grew 9.7 percent to P9.88 trillion in 2016.

Income tax holidays and other perks enjoyed by large corporations cost the government over P300 billion in foregone revenue annually, according to the Department of Finance (DOF).

Share prices were down anew as investors continued to take profit after the market reached a record high at the start of the week.

Power distributor Manila Electric Co. (Meralco) expects a nearly five percent growth in sales volume last year as demand for electricity continued to pick up across all sectors in its franchise area.

A new cement firm led by Henry Sy Jr. is preparing to rock the industry, bringing along with it a “revolutionary” manufacturing process that promises to result in environment-friendly and stronger structures.


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