Farmers may incur losses of ?140B by yearend due to rice imports, group says
CNN Philippines - 2019-11-18
Metro Manila (CNN Philippines, November 18) -- Farmers could lose over a hundred billion pesos worth of profits this year due to the effects of the Rice Tariffication Law, a group said Monday. The Federation of Free Farmers (FFF) said losses they expect to incur may reach ?140 billion by the end of 2019. "This is more than ten times the ...

House panel OKs bill for tax on Pogo and its workers
Philippine Daily Inquirer - 2019-11-18
which would set a five percent franchise tax on Pogos and another 25 percent tax on the salaries of its workers with a minimum threshold of P600,000 per year. At present, the Philippine Amusement and Gaming Corporation (Pagcor) only collects two percent from the gross winnings of licensed Pogos. "This will raise P45 billion for the national ...

Villanueva: POGOs must pay taxes like any foreign business
Philippine Daily Inquirer - 2019-11-18
"Our chief tax assessor and collector, the Bureau of Internal Revenue, has already begun clamping down on tax-dodging Pogo firms," Villanueva said. These companies must settle their obligations and duties to our government, just like any other business entity running their operations here in our country," he added.

House panel approves bill setting 5% tax on POGOs
CNN Philippines - 2019-11-18
Metro Manila (CNN Philippines, November 18) -- A bill setting a uniform 5 percent franchise tax on Philippine Offshore Gaming Operators (POGOs) has been approved by a House of Representatives panel. On Monday, the House Committee on Ways and Means approved a measure proposed by its chairman Albay 2nd District Representative Joey Salceda that ...

Bill Gates tops Jeff Bezos as richest person in the world
CNN Philippines - 2019-11-18
(CNN) -- Bill Gates is back on top. On Friday, Gates surpassed Amazon CEO Jeff Bezos to reclaim the distinction of richest person in the world, with a net worth of $110 billion, according to the Bloomberg Billionaires Index. It's the first time the co-founder of Microsoft has held the top spot in over two years. He briefly topped Bezos last ...

TESDA-8 promotes Dual Training System thru school-industry partnerships
Gov - 2019-11-18
A representative from the Bureau of Internal Revenue also shared to the participants about the benefits of the said partnership aside from the support they will extend to the trainees. For Secretary Isidro LapeƱa, TESDA scholarship programs should focus ...

Philip Morris may launch iQos heated tobacco line in PH by first half of 2020
Philippine Daily Inquirer - 2019-11-17
As this developed, Philip Morris Fortune Tobacco Corp. (PMFTC) president Denis Gorkun said in a press briefing that he would like to see a level of taxation on the innovative smokeless product that is "proportionate to the risk" that it brings to users. "It is clear multiple government agencies around the world, including the United ...

PMFTC to launch IQOS by June next year, bats for government regulation
BusinessMirror - 2019-11-17
Still, Gorkun is hopeful the tax increase will be gradual so as not to discourage people from making the shift from smoking cigarettes to using smoke-free products. "Taxation is nothing new. Taxation has to be taken with a gradual approach. The key is to make sure that the tax increases are in line with GDP goals and inflation," he said.

Philip Morris to launch IQOS in Philippines next year
philstar.com - 2019-11-17
MANILA, Philippines -- Cigarette manufacturer Philip Morris Fortune Tobacco Corp. (PMFTC) is eyeing to launch its heat-not-burn tobacco device, IQOS, in the Philippines as early as the first half of next year even as it faces the possibility of a higher tax environment for electronic cigarette products. In an interview on the sidelines of the ...

Land reclamation: Bane or boon?
BusinessMirror - 2019-11-17
This came after DENR officials issued statements promising to stop a multibillion land-reclamation project being pushed by local officials of Bacoor City for the establishment of its would-be central business district along Manila Bay. The Bacoor land-reclamation project covers a total of 420 hectares. It will displace around 100 hectares of ...

Solon calls on health, port authorities to implement protocols vs the Black Death plague
Davao Today - 2019-11-17
A total of 3.12 million Chinese citizens entered the country from January 2016 to May 2018, based on data from the Bureau of Immigration. This means over a hundred thousand Chinese nationals enter the country every month or almost four thousand daily.

Interview: U.S. intellectual property law expert calls for more exchanges with China
Xinhua - 2019-11-17
SAN FRANCISCO, Nov. 16 (Xinhua) -- The United States and China should expand exchanges and collaboration in the field of intellectual property (IP) law, said a U.S. IP law expert. "It's important for practical reasons (to expand exchanges) because there are so many interactions between the United States and China, and many have some connection ...

2,500 police deployed as temple at the center of gender dispute in India opens its doors
CNN Philippines - 2019-11-17
For centuries, women aged 10 to 50 were not allowed to enter the Sabarimala Temple. But in September last year, the country's Supreme Court overturned the ban, and in January, women entered the temple for the first time, defying opposition from religious conservatives. But that decision is now in question, after the Supreme Court agreed ...

SC sending Congress draft bill on marshals
Philippine Daily Inquirer - 2019-11-16
A bill drafted by the Supreme Court for a Philippine Marshal Service will be sent to Congress on Monday, according to Court Administrator Midas Marquez. The draft bill goes beyond the primary objective of providing protection to judges--amid the spate of killings targeting members of the judiciary--as it also proposes broad powers for the ...

Why my best friends are my best critics
Philippine Daily Inquirer - 2019-11-16
He has exaggerated my role, as I stated elsewhere. He has spoken for the Supreme Court on various subjects beyond my limited range--including mathematics, the latest advances in science and technology, economics, accounting and even canon law. In a deeper ...

If an athlete wins in the SEA Games, how much money will they get -- and is it taxable?
SPIN - 2019-11-16
Continue reading below ? This tax break is covered in RA 7549, or 'An Act Exempting All Prizes and Awards Gained From Local and International Sports Tournaments and Competitions from the Payment of Income and Other Forms of Taxation'. Whether they win or not, a national athlete can always score several benefits, as long as they're registered ...

36 Japanese arrested for voice phishing scam
Philippine Daily Inquirer - 2019-11-15
The Bureau of Immigration (BI) arrested in Makati City 36 Japanese who were allegedly behind a telecommunications scam that defrauded their compatriots of an estimated 2 billion yen (P934 million). Immigration Commissioner Jaime Morente said they were out to arrest 20-year-old Nobuki Oshita and 33-year-old Yusuke Kiya, who are both wanted for ...

House measure seeks automatic employment allocation for elderly
BusinessMirror - 2019-11-15
The measure will also encourage the private sector to hire senior citizens because they shall be entitled to an additional tax deduction from their gross income, equivalent to 70 percent of the total amount paid as wages to senior citizens subject to compliance or the pertinent provisions of the Internal Revenue Code. Despite the various ...

Mother-daughter meme warns Pinoys vs illegal recruiters
Philippine Daily Inquirer - 2019-11-15
MANILA, Philippines - The Philippine Embassy in Iraq on Friday became creative by using a "mother-daughter" internet meme to caution Filipinos against illegal recruiters abroad. In a Facebook post, the embassy posted a meme that features a cartoon mother who became puzzled after her daughter went home early. "Anak, Bakit bumalik ka?

36 Japanese nationals linked to telco scam arrested
Philippine Daily Inquirer - 2019-11-15
MANILA, Philippines - Thirty-six Japanese nationals involved in a telecommunications scam were arrested in Makati City, the Bureau of Immigration (BI) reported Friday. BI Commissioner Jaime Morente said the Japanese nationals were arrested in a hotel in Makati City last Wednesday after receiving information from Japanese authorities that a ...

Trump wants Supreme Court to block subpoena for his taxes
Philippine Daily Inquirer - 2019-11-15
A three-judge panel of the 2nd U.S. Circuit Court of Appeals in New York ruled last week that the tax returns can be turned over to New York prosecutors. The appellate judges emphasized the ...

Explain summons to traffic enforcers, SC tells judge
Philippine Daily Inquirer - 2019-11-14
The Supreme Court, through court administrator Midas Marquez, has asked a Cabanatuan City judge to explain his summons to two Baguio City traffic enforcers who confiscated his car license plate for illegal parking last month. Judge Nelson Lago of the CabanatuanMunicipal Trial Court Branch III "was requested" to comment on news reports that ...

B.I. deports 312 Chinese caught in telco scam
BusinessMirror - 2019-11-14
Some of the 300 foreign nationals deported by Philippine authorities are seen at the NAIA 1 tarmac prior to boarding a China Eastern flight on Thursday (Nov. 14) night. THE Bureau of Immigration ...

DOF sees no need to amend rice tariff law
philstar.com - 2019-11-14
MANILA, Philippines -- The government will not repeal nor suspend the implementation of the Rice Tariffication Law, as measures are already being implemented to address the challenges posed by the law to rice farmers, according to the Department of Finance (DOF). While emphasizing the benefits of Republic Act 11203 or the Rice Liberalization ...

DOLE postpones release of Service Charge IRR law to confer with DOT
BusinessMirror - 2019-11-14
The Department of Labor and Employment (DOLE) again postponed the release of the Implementing Rules and Regulation (IRR) of the Service Charge Law, this time to consult the Department of Tourism (DOT). In a text message, Labor Secretary Silvestre H. Bello III told BusinessMirror he opted to conduct more consultations for the new IRR.

Phoenix Petroleum backs Palace bid to plug tax leaks
BusinessMirror - 2019-11-14
DAVAO CITY--Independent oil producer Phoenix Petroleum Philippines Inc. (PPPI) expressed full support to the move of MalacaƱang to plug tax leakages, including a crackdown on noncompliant players, to improve further a fair corporate practice in the country. In a statement disclosing its income and revenue position as of November, PPPI Chief ...

Unions bracing for fight over salty-foods tax
BusinessWorld - 2019-11-14
Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) Spokesperson Alan A. Tanjusay told BusinessWorld this week that the proposed tax measure does not consider that many low-income workers have no choice but to eat salty food despite being aware of the health effects of food processing. "The proposed measure to impose ...

ZEN Graphene Solutions Reports on Multiple Intellectual Property Licensing Agreements
YAHOO! - 2019-11-14
This agreement licenses to ZEN the intellectual property created by scientists and laboratories within a renowned Canadian University. This agreement has no expiry date and provides that a royalty is payable by ZEN based on the annual amount of material processed under the intellectual property. The company also reports that it has signed an 18 ...

PH deports over 300 Chinese nationals
CNN Philippines - 2019-11-14
Metro Manila (CNN Philippines, November 14) -- The Bureau of Immigration started deporting more than 300 Chinese nationals allegedly involved in telecommunication fraud on Thursday. The first batch of the 312 Chinese nationals was sent out on a chartered China Eastern flight to Shijiaxuang in Hebei Province and Changchun in Jilin Province.

The climate crisis will profoundly affect the health of every child alive today, report says
CNN Philippines - 2019-11-14
(CNN) - The climate crisis is already hurting our health and it could burden generations to come with lifelong health problems, a new report finds. It could challenge already overwhelmed health systems and undermine much of the medical progress that has been made in the last century. If the world continues to produce the same amount of carbon ...

Immigration deports over 300 foreign nationals
CNN Philippines - 2019-11-14
Metro Manila (CNN Philippines, November 14) -- The Bureau of Immigration started deporting more than 300 foreign nationals -- mostly Chinese nationals -- on Thursday. The first batch was sent out in a chartered China Eastern flight to China. The last two batches will leave the country on Thursday night. The deported nationals are part of the ...

Early action on 2019 budget law validity extension vital
BusinessMirror - 2019-11-13
Imee Marcos jointly filed. He said that "in light of a Supreme Court ruling on the case filed by the Ang Nars Party-list regarding the upward adjustment in the salary grade for entry level nurses, this made it necessary to file a bill for the extension of the validity of the 2019 national budget in place of the resolution." Stressing the ...

POEA limits types of OFW allowed in Libya
BusinessMirror - 2019-11-13
AMID the ongoing civil war in Libya, the Philippine Overseas Employment Administration (POEA) has further limited the categories of overseas Filipino workers (OFW) allowed to work in the African state. POEA Administrator Bernard P. Olalia on Tuesday issued Memorandum Circular (MC) 13, Series of 2019 "clarifying" the provisions of MC 10.

CJ Bersamin gets death threats
BusinessMirror - 2019-11-13
THE Supreme Court and the Department of Justice (DOJ) have come to the rescue of retired Chief Justice Lucas Bersamin after the latter reported that he has received death threats. SC Spokesman Brian Keith Hosaka said Bersamin himself disclosed to him the threat but did not provide details as to where these are coming from. Hokasa, however ...

Maritime Lecturer Receives Royal Seal of Approval
Bdaily Business Network - 2019-11-13
A respected North East maritime lecturer has received the royal seal of approval for services to the careers of young seafarers and seafarer welfare over two decades. Alain Reynier was presented with the Merchant Navy Medal for Meritorious Service by HRH The Princess Royal, Princess Anne, at a ceremony at Trinity House in London, on Wednesday ...

19 NPA members surrender in SouthCot
MindaNews - 2019-11-13
The governor said the surrenderers may avail of livelihood financing of at least P100,000 from the Land Bank of the Philippines, housing assistance worth P450,000, firearms remuneration of up to P500,000, livelihood training from the Technical Education and Skills Development Authority and other interventions from the Department of Labor and ...

DOF sees more expensive alcoholic drinks, heated tobacco, vapes at start of 2020
Philippine Daily Inquirer - 2019-11-13
With President Rodrigo Duterte certifying as urgent the bill that would make so-called "sin" products--alcohol, heated tobacco and vapes--more expensive, expect a spike of prices of these by ...

Solon urges offices: Enforce 4-day workweek in December
Philippine Daily Inquirer - 2019-11-13
Government agencies located along Edsa like the Bureau of Internal Revenue (BIR) in Caloocan City and Philippine Overseas Employment and Administration (POEA) should consider implementing the four-day workweek scheme, Abante added. The House leader cited Microsoft as an example of private firms that implemented a four-day workweek scheme ...

Asian stocks sink after Trump threatens more China tariffs
Philippine Daily Inquirer - 2019-11-13
A protester was shot Monday and others blocked streets and commuter rail tracks and set off gasoline bombs at the University of ... used to price international oils, shed 10 cents to $61.96 ...

Urgency grows by the day for a trade deal with China. Will Trump speech today deliver?
CNN Philippines - 2019-11-13
(CNN) - President Donald Trump will address the Economic Club of New York later today and investors want to know one thing: When can a so-called phase-one mini-trade deal with China be signed?

BPOs lower 2022 targets amid uncertain times
Philippine Daily Inquirer - 2019-11-12
MANILA, Philippines -- The IT-BPM industry used to think it could hit $39 billion worth of revenues in 2022, but unexpected trends such as the uncertainty over its tax breaks have now made its target a pipe dream. The industry now expects to hit only $29 billion. At best, this can reach $32 billion, although an industry leader called this an ...

IT-BPM cuts revenue growth forecast by $7 billion
BusinessMirror - 2019-11-12
THE information-technology and business- process management (IT-BPM) industry has reduced its growth forecast by nearly $7 billion in revenue and roughly 230,000 workers in employment on uncertainties brought about by domestic and international policies. The IT and Business Process Association of the Philippines (Ibpap) on Tuesday said it ...

Maynilad starts work on biggest sewage treatment plant
Philippine Daily Inquirer - 2019-11-11
Maynilad Water Services Inc. yesterday broke ground for its biggest ... is expected to help clean up waterways flowing to Manila Bay and also improve sanitation conditions in three cities.

DTI crafts road map for AI, Fourth Industrial Revolution
BusinessMirror - 2019-11-11
With the advent of the Fourth Industrial Revolution, or the age of digitization, governments from across the world are seeking ways on how to keep their labor force competitive in the face of firms adopting new solutions, particularly automation, in their operations. "The formulation of the AI road map is very important and timely.

Law on inheritance tackled in seminar
philstar.com - 2019-11-11
MANILA, Philippines -- The Center for Global Best Practices is launching a pioneering program titled, "Inheritance and Disinheritance Law of the Philippines" on Dec. 5 at the Marriott Grand Ballroom, Resorts World Complex, Pasay City. The one-day training will provide participants a comprehensive understanding of the general principles as well ...

CCT eyed for subsidy of garments labor pay
BusinessMirror - 2019-11-11
Aside from Fobap, the proposal to incentivize employment in the garments industry is backed by the Confederation of Wearable Exporters of the Philippines, Garment Business Association of the Philippines, Textile Millers Association of the Philippines and the Garment Manufacturers Association of the Philippines. Based on data from the Philippine ...

November: Bar examination month
BusinessMirror - 2019-11-11
It is the professional licensure examination required before anyone can practice law in our country. It is administered by the Supreme Court through the Bar Examination Committee headed by an incumbent member of the SC. A Bar candidate should obtain a passing average of 75 percent and no grade must be lower than 50 percent in any Bar subject.

American-Canadian rape suspect falls
philstar.com - 2019-11-11
MANILA, Philippines -- The Bureau of Immigration (BI) announced yesterday the arrest of an American-Canadian man who fled to Malaysia after he was accused of raping a 17-year-old girl in Subic, Zambales in March last year. Fouad Bounab, 54, arrived at the Ninoy Aquino International Airport (NAIA) Terminal 3 from Kuala Lumpur on Saturday night ...

Maynilad breaks ground on P10-B sewage treatment plant
BusinessWorld - 2019-11-11
MAYNILAD Water Services, Inc. on Monday has broken ground on a P10.5-billion sewage treatment plant that ... The plant, called the CAMANA (Caloocan-Malabon-Navotas) Water Reclamation Facility, is expected to help clean the waterways flowing to Manila Bay while improving the sanitation conditions in three cities. "The completion of our CAMANA ...

Input VAT attributable to zero-rated sales: Gross income deductible?
philstar.com - 2019-11-11
What comes to mind when we talk about excess, unutilized input value-added tax (VAT) that can be allowed as deduction to gross income for tax purposes are the following: input VAT from VAT exempt transactions, input VAT of non-VAT registered persons, and the excess of the actual input VAT from government sales to the seven percent standard ...

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