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Senator Joel Villanueva introduced amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Bill proposing to increase taxes on coal and mining. With 11 affirmative votes, one negative and one abstention, the Senate approved the amendment raising the coal tax from P10 per metric ton to P300 per metric ton. “The coal tax […]
National Electrification Administration (NEA) Administrator Edgardo Masongsong has encouraged electricity consumers, especially those living in rural and remote areas of the country, to make use of the opportunities offered by electricity to improve their lives. Masongsong said this during the 37th Annual General Membership Assembly (AGMA) of Leyte IV Electric Cooperative, Inc. (LEYECO IV) […]
Mass housing projects that are worth P2 million and below located outside of Metro Manila will continue to enjoy value-added tax (VAT) exemption under the Senate version of the Tax Reform for Acceleration and Inclusion (TRAIN) bill. The Housing and Urban Development Coordinating Council (HUDCC) estimated that from 2017 to 2022, the total housing […]
Senator Bam Aquino urged rural banks to expand their services to more small businesses, saying many local entrepreneurs still need access to reasonable loan packages that can help them grow their business. Aquino issued this plea during his speech at the 60th Charter Symposium of the Rural Bankers Association of the Philippines (RBAP). “Nagpapasalamat […]
The IT-Business Process Association of the Philippines (IBPAP) said IT-BPM investment pledges in the country are now showing “signs of recovery”, thanks to the Senate version of the first tax reform package which retained the current incentives of the industry. “The Senate did not touch the industry’s tax incentives to enable the country to […]
Senator Grace Poe batted for the inclusion of an “anti-passport price increase” provision in the 2018 budget of the Department of Foreign Affairs (DFA) in order to freeze the fee for the travel document even if its validity will be extended to 10 years pursuant to a new law. “We can add one line […]
Senator Joel Villanueva filed a measure that mandates establishments to give 100 percent of its collected service charge and tips to their employees. Currently, Article 96 of the Labor Code provides that employees are entitled to only 85 percent of the service charge paid by customers in hotels, restaurants and similar establishments while 15 […]
To aid the Bureau of Customs (BOC) in its goal to be more efficient in the correct assessment and collection of customs duties and taxes thus enabling the bureau to meet its target, Senator Dick Gordon has initiated the approval for additional budget for the BOC’s procurement of additional X-ray machines. During one of […]
Department of Trade and Industry (DTI) Secretary Ramon Lopez encouraged franchisers to be innovative and creative in their businesses during the 16th Business and Franchise Expo of the Association of Filipino Franchisers Inc. (AFFI). “Through innovation and creativity, we are confident to see more local franchisers expand across the country’s borders”, said Secretary Lopez. […]
Milk and 3-in-1 coffee are excluded from the proposed excise tax on sweetened beverages under the version that the Senate panel reported out last week. Senator Sonny Angara, chairman of the ways and means committee, said the committee finds it unjustifiable to tax milk – given its nutritional value – the same way as […]