IF the Philippines does not adjust its outdated taxation system, the country will find itself at a disadvantage when the Asean economic integration begins to fully kick in, the European Chamber of Commerce of the Philippines (ECCP) warned on Thursday.
The Philippine business groups and Joint Foreign Chambers (PBG-JFCs), a coalition of 14 local and foreign business groups, is now seeking amendments to the proposed bill on corporate tax incentives to make it really more favorable to the private sector.
The Philippine Business Groups and Joint Foreign Chambers (PBG-JFCs), a coalition of 14 local and foreign business groups, wrote the House and Senate Committees on Ways and Means to express support for the draft or amended version of the proposed Tax Incentives Management and Transparency Act, also known as TIMTA.
Sluggish government spending slowed the growth of the Philippine economy during the first quarter of the year to 5.2 percent - the slowest since 2012.
PERSISTENT delays in the implementation of vital infrastructure projects intended to support an expanding economy slowed the growth of the country’s gross domestic product (GDP) during the first quarter to a disappointing 5.2 percent â€" the lowest rate since 2012.
Philippine economic growth in the first quarter of 2015 decelerated to a 3-year low of 5.2% year-on-year, prompting economists and business leaders to warn that the country might struggle to realize its full-year growth target of 7% to 8%.
The House of Representatives has approved on second reading a measure seeking to amend economic provisions of the Constitution, which when ratified would allow more foreign ownership of certain classes of assets.
The House of Representatives has approved on second reading a measure seeking to amend economic provisions of the Constitution, which when ratified would allow more foreign ownership of certain classes of assets.
A coalition of local and foreign business groups has issued a list of critical reforms which they said should be in place immediately to achieve inclusive growth.
The Department of Public Works and Highways (DPWH) has assured the public that the hiked premium-bid requirement for the P55-billion Cavite-Laguna Expressway (Calax) deal will not result in higher toll rates for the proposed thoroughfare.
European businessmen said they are closely watching the developments of the “water contracts†between Metropolitan Waterworks and Sewerage System (MWSS) and the water concessionaires as they continue to harp on government to honor contracts and not to change horses midstream.
The Finance and Trade departments have finally reached consensus on a monitoring scheme for tax incentives given to export firms, eight months after talks on an incentives measure started at the House of Representatives.
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