Philippines’ tax effort eased in 2020

Source BusinessWorld

President Ferdinand “Bongbong” Marcos Jr. on Monday gave the Filipino people a more detailed preview of what his administration intends to accomplish in the next six years, highlighting the immediate need to resuscitate the pandemic-battered economy and to uplift the lives of marginalized farmers, debt-strapped agrarian reform beneficiaries, migrant workers and the poor...

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President Ferdinand "Bongbong" Marcos Jr. on Monday pledged to reform the country's tax system and pump up spending on infrastructure to attain an 8-percent economic growth during his term...

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President Ferdinand “Bongbong” Marcos Jr. on Monday gave the Filipino people a more detailed preview of what his administration intends to accomplish in the next six years, highlighting the immediate need to resuscitate the pandemic-battered economy and to uplift the lives of marginalized farmers, debt-strapped agrarian reform beneficiaries, migrant workers and the poor...

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The economy is in a strong position to hit the growth target of 6.5 percent to 7.5 percent this year after President Ferdinand Marcos Jr. ruled out any more COVID-19 lockdowns in the coming months, an economist said Monday...

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Monetary authorities maintain that a market-determined exchange rate policy is still good for the Philippine peso despite its depreciation...

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The government will no longer enforce COVID-19 lockdowns, President Ferdinand Marcos Jr. said in his first State of the Nation Address Monday, saying the country can no longer afford to put one into place...

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Know the CSC rules in disciplining public servants or in defending yourselves in case administrative complaints are filed against you! The 2017 Rules on Administrative Cases in the Civil Service covers all rank and file, permanent and casual government employees, except for presidential appointees and elected officials...

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President Ferdinand Marcos Jr. on Monday urged Congress to pass at least 19 priority measures of his administration that would help improve government services under his leadership...

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The Bangko Sentral ng Pilipinas (BSP) announced it has completed the enhancement of its external debt monitoring and analysis by shifting to the latest version of the Debt Management and Financial Analysis System (DMFAS)...

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On July 12, 2022, the United Nations Department of Economic and Social Affairs (UN DESA) published on its website the Department of Science and Technology (DoST)'s flagship program, "Small Enterprise Technology Upgrading Program 4.0 (SETUP 4.0)," as part of the SDG Acceleration Actions under "The Partnership Platform."...

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Kuala Lumpur may end up with no choice but to comply with the French arbitration court’s recent ruling to award $14.92 billion (P746 billion) to the Sulu Sultanate since Malaysia is a signatory of the New York (NY) Convention that stipulates recognition of arbitral awards...

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Israeli venture platform OurCrowd and Einhorn Resources Inc., a Philippine investment firm, announced a partnership that will provide Einhorn clients direct access to OurCrowd’s exclusive investments and mentorships to facilitate the growth of Philippine startups...

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The Philippines emerged as the most sought-after destination as international guest searches rose 140 percent from first quarter 2021 to Q1 2022 following the lifting of travel restrictions, according to newly released Airbnb data...

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The Department of Tourism (DoT) applauded the naming of the country's three island destinations — Boracay, Palawan and Cebu — among "The 25 Best Islands in the World" of the New York-based travel magazine, Travel + Leisure (T+L)...

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While the Philippines and the Asia-Pacific region as a whole suffered from a decline in tax revenues at the onset of the COVID-19 pandemic, the Organization for Economic Cooperation and Development (OECD) has advised against slapping new or higher taxes too soon...

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China's armed forces have become significantly more aggressive and dangerous over the past five years, the United States' top military officer said during a trip to the Indo-Pacific that included a stop in Indonesia on Sunday...

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The European Commission has approved a smallpox vaccine for use against monkeypox after the World Health Organization declared monkeypox a global health emergency, the Danish drugmaker that developed the jab said on Monday...

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Soaring energy costs and the threat of hunger faced by millions in poorer nations show how the biggest conflict in Europe since World War Two is having an impact far from Ukraine...

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US President Joe Biden said Monday he does not expect the United States suffer an economic downturn, although GDP figures due later this week may show the economy shrinking for a second consecutive quarter...

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Oil prices dropped on Monday, extending a recent losing streak on concerns that an expected rise in U.S. interest rates would weaken fuel demand...

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Wheat prices rose sharply on Monday, July 25, as a missile strike on the Ukrainian port of Odesa over the weekend raised doubts about whether it will be possible to implement last week’s agreement to open a corridor for grain exports from the war-torn country...

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Japan confirmed its first case of monkeypox on Monday with a man in his 30s in Tokyo testing positive, a government source said...

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Over 4,000 troops from a dozen countries will join an annual joint military exercise between Indonesia and the United States next month amid simmering tensions in the South China Sea, according to Indonesian officials...

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The Biden administration is weighing whether to declare the monkeypox outbreak in the country a public health emergency, the Washington Post reported on Monday...

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Myanmar’s ruling military announced on Monday it had executed four democracy activists accused of aiding “terror acts”, sparking widespread condemnation of the country’s first executions in decades...

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Local business groups welcomed President Ferdinand R. Marcos, Jr.’s plans for economic recovery, as well as the proposed legislative measures that include the imposition of a value-added tax (VAT) on digital transactions...

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I come before you today to address you, as it is my duty as President of the Republic...

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President Ferdinand "Bongbong" Marcos Jr. on Monday urged Congress to pass a law condoning the loans of agrarian reform beneficiaries, saying it will ensure the success of his administration's food security program...

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The new Bureau of Customs (BoC) chief said he will intensify the agency’s efforts against smuggling, particularly of drugs, guns, and agricultural products, as well as improve revenue collection...

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The Bangko Sentral ng Pilipinas (BSP) has enhanced its external debt monitoring and analysis by shifting to the latest version of the Debt Management and Financial Analysis System (DMFAS)...

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Go Negosyo founder Jose Maria "Joey" Concepcion 3rd on Monday thanked President Ferdinand "Bongbong" Marcos Jr. for his decision to do away with lockdowns in connection with the government's pandemic response...

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President Ferdinand "Bongbong" Marcos Jr. on Monday pushed for the creation of more "specialty hospitals" in other parts of the country to enhance the delivery of health care to Filipinos living in far-flung rural areas...

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“I will not preside over any process that will abandon even a square inch of territory of the Republic of the Philippines to any foreign power.”

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President Ferdinand Marcos Jr.’s first State of the Nation Address (Sona) drew praise for its “technical” merits in addressing economic growth and high prices, but it was found wanting on specific details and the lack of clarity on its agrarian reform agenda...

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New Customs Commissioner Yogi Filemon Ruiz on Monday committed to protect the border from illegal drugs and guns while weeding out corrupt and underperforming revenue personnel...

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Over 2.8-million students from different parts of the country have registered during the first day of enrollment for the incoming school year, the Department of Education (DepEd) reported on Monday...

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President Ferdinand Marcos Jr. vowed to increase the country’s renewable energy resources and “re-examine the strategy for building nuclear power plants” to ensure reliable supply and bring down the price of electricity...

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COVID-19 cases have been steadily increasing in the past month, but hospital bed utilization rates remain at low risk or below 50 percent at the national and regional levels, health authorities said...

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Organized labor yesterday presented demands to the new Marcos administration, but expressed doubt about achieving much improvement in their lives...

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Call center workers said 100% work-from-home (WFH) arrangements are workable following a government ruling setting limits on hybrid work in the Information Technology and Business Process Management (IT-BPM), insisting that companies should be allowed to adopt flexible work arrangements for safety reasons...

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Coronavirus infections in the Philippines rose by 33% to 19,536 in the past week, according to the Department of Health (DoH)...

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The Marcos administration is keen to mechanize the country’s agricultural sector to increase food production and achieve food security...

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Corruption in the Philippines has been an accepted truth for many years. When running for a position, many politicians use the concept of being “clean” to separate themselves from the corrupt ones. However, politicians are just one of the many causes of corruption here in the Philippines...

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President Ferdinand “Bongbong” Marcos Jr. on Monday called on the 19th Congress to pass 19 priority measures that would help his administration in the next six years...

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Newly-appointed Acting Customs Commissioner Filemon Ruiz vowed to “replace” district collectors who will fall short of their assigned revenue targets as he said the President ordered him to improve the bureau’s revenue generation...

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The Vaccine Expert Panel (VEP) on Monday said the World Health Organization’s (WHO) move declaring monkeypox as a global health emergency might lead to the large-scale production of vaccines against the disease...

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President Ferdinand Romualdez “Bongbong” Marcos Jr. provided a comprehensive plan for the Philippines’ path to progress. It included reforms that could spark a digital transformation for the country. Soon, it could become a global cryptocurrency hub...

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President Ferdinand “Bongbong” Marcos Jr. covered a range of national issues in his first State of the Nation Address (SONA) on Monday, but some groups and netizens questioned why some topics failed to the make the cut in his speech...

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The electronics industry expressed confidence in the industry’s competitiveness, but urged the Senate to ratify the Regional Comprehensive Economic Partnership (RCEP) trade agreement to enhance its prospects..

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Continued smuggling operations undermine the goals of the rice tariff law of modernizing Philippine agriculture, improving farmers’ income and reducing the retail price of the staple food, said a senator on Monday...

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The key to surviving economic shocks, the National Economic and Development Authority (Neda) said, is to make good business decisions...

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President Ferdinand R. Marcos Jr. on Monday played up the importance of the tourism industry in boosting the economy, especially in the area of job generation...

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Another oil price reduction takes effect this week, oil firms announced Monday...

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The government made a partial award for short-dated Treasury bills (T-bills) after rates reached an excessive level even amid declining oil prices...

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The stock market opened the week on a sour note as investors took a wait-and-see stance while waiting for President Marcos’ first State of the Nation Address (SONA) and the US Federal Reserve’s meeting this week...

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To bring down the Philippines’ debt-to-GDP (gross domestic product) ratios to a more manageable level, the country’s new economic team led by Finance Secretary Benjamin Diokno was quick to reply that the way out is simply to outgrow the debt by having the economy grow at a faster rate...

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Udenna Corp., the unlisted holding company of businessman Dennis Uy, said Monday it paid lease payment to Clark International Airport Corp. to avoid possible debt default and foreclosure...

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To bring down the Philippines’ debt-to-GDP (gross domestic product) ratios to a more manageable level, the country’s new economic team led by Finance Secretary Benjamin Diokno was quick to reply that the way out is simply to outgrow the debt by having the economy grow at a faster rate...

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