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“The new law has stiffer penalties to protect consumers. It provides that merchants who issue Gift Certificates (GCs) in violation of the law can be slapped up to a million pesos in fines, obligated to reimburse the total value of GCs to holders and ordered that their authority to issue GCs be suspended or […]
Senator Joel Villanueva called for the retention of tax incentives being given to business process outsourcing (BPO) companies such as Regional Operating Headquarters (ROHQs). Republic Act No. 8756 defines ROHQ as “any foreign business entity formed, organized, and existing under any laws other than those of the Philippines whose purpose is to service its […]
Senator Loren Legarda has vowed to restore the one billion-peso budget of the Shared Service Facilities (SSF) Project of the Department of Trade and Industry (DTI), which intends to increase the productivity of micro, small, and medium enterprises (MSMEs) by giving them access to efficient technologies, skills, knowledge, and systems. At the hearing for […]
The Senate passed on third and final reading a bill which would require the country’s economic managers to appear biannually before a joint congressional oversight committee, to report on the status and direction of the country’s fiscal and monetary policies. Senate Bill No. 1483, or the “Fiscal and Monetary Report Act of 2017” was […]
Following the double-digit expansion in Philippine (PH) export as reported by the Department of Trade and Industry (DTI), the country also sustained its leading position in terms of Purchasing Managers’ Index (PMI) for the manufacturing sector at 53.9, the highest among ASEAN Member States. “The 14% expansion in export was on the back of […]
Senator Joel Villanueva has filed a bill that gives employees and employers an option to adopt flexible working arrangements. Senate Bill No. 1571 espouses alternative working arrangements that allow both employer and employee to agree on a beneficial arrangement of work that works best for both parties. It amends Article 83 of the Labor […]
Senator Loren Legarda expressed support to the Department of Foreign Affairs (DFA) in strengthening its economic research activities and cultural diplomacy programs, stressing that these are essential in forging closer ties with other nations. “We should strengthen our economic research and translate them to operationalized information and the DFA should share it with other […]
The Philippine Halal Export and Development Promotion Board led by the Department of Trade and Industry (DTI) recently adopted the implementing rules and regulations (IRR) of the Republic Act 10817 or the Philippine Halal Export Development and Promotion Act of 2016, which sets the direction of the Philippine Halal sectors and takes advantage of […]
The Senate formally started its review of the proposed P3.767-trillion 2018 national budget which the Administration dubbed as “A Budget that Reforms and Transforms”. Senator Loren Legarda, Chair of the Senate Committee on Finance, presided over the briefing by the Development Budget Coordination Committee (DBCC) on the 2018 National Expenditure Program (NEP). “The national […]
The Philippine Board of Investments (BOI) recently gave approval to Taxumo Inc.’s Php5 million start-up project in Bonifacio Global City as a new creative industries/knowledge-based services provider under the preferred activities of the 2017 Investment Priorities Plan (IPP). The project is the first digital startup firm approved by the BOI under the 2017 IPP […]