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Philippines has room to loosen fiscal policy – think tank

The Philippines is among the countries in emerging Asia that has room to support growth by loosening fiscal policy, provided that debt levels are checked and the budget deficit under control, London-based think tank Capital Economics said......»»

Source: Philstar PhilstarCategory: FinanceNov 14th, 2018Related News

BPO sector blames policy challenges for missed targets

THE INFORMATION TECHNOLOGY and Business Process Outsourcing Association of the Philippines (IBPAP) on Tuesday said it missed its annual revenue and employment growth goals under its five-year road map due to uncertainty amid plans to change the fiscal incentive regime and US President Donald Trump’s vow to take jobs back to the United States......»»

Source: Bworldonline BworldonlineCategory: NewsNov 14th, 2018Related News

Recto: Senate wants 100% rice tariffication profit ‘plowed back’ to farmers

  Senate President Pro Tempore Ralph Recto on Wednesday said all profits that might be generated from the proposed rice tariffication bill must be "plowed back" to farmers through assistance, equipment, credit, insurance, among others. According to Recto, rice tariffication "is not a revenue measure" cautioning "some quarters in the government" who were playing with the idea of using rice tariffication to "shore up the government's fiscal position." He said the Senate's position "is that government should not profit from rice tariffication." "By stipulating in the bill that 100 percent of duties will be plowed back to farmers, we are sending a strong message to those who mig...Keep on reading: Recto: Senate wants 100% rice tariffication profit ‘plowed back’ to farmers.....»»

Source: Inquirer InquirerCategory: Nov 14th, 2018Related News

Fiscal regime on mining hurdles third reading

The House of Representatives has approved the bill establishing reforms in revenue collection on the mining industry on its third and final reading. With a vote of 158-7, House Bill 8400, otherwise known as an Act Establishing the Fiscal Regime for the Mining Industry, passed the Lower Chamber. The bill seeks to rationalize and institute […].....»»

Source: Tribune TribuneCategory: NewsNov 14th, 2018Related News

Fiscal deficit widens by 78% in 9 months

The national government’s fiscal deficit widened by 78 percent to P378.2 billion in the nine months to September, already accounting for three percent of the country’s gross domestic product......»»

Source: Philstar PhilstarCategory: FinanceNov 13th, 2018Related News

House passes bill on fiscal regime to ensure fair gov’t share from mining

  The House of Representatives approved on third and final readingon Mondaya bill establishing the fiscal regime for the mining industry to ensure the government gets its rightful share in profits. With 158 affirmative votes, seven negative and zero abstention, the chamber approved on final reading House Bill No. 8400, which seeks to amend Section 151,Chapter VII of the National Internal Revenue Code (NIRC) of 1997. The bill aims to "rationalize and institute a single fiscal regime applicable to all mineral agreements" and "enhance the equitable share of the government in the utilization of natural resources without compromising the mining sector's need for reasonable r...Keep on reading: House passes bill on fiscal regime to ensure fair gov’t share from mining.....»»

Source: Inquirer InquirerCategory: Nov 12th, 2018Related News

Japan to extend loan to help Malaysia’s debt problem

TOKYO --- The leaders of Malaysia and Japan have agreed that Japan will issue yen-denominated bonds of up to 200 billion yen ($1.8 billion) to help the Southeast Asian country battle its fiscal deficit. Japanese Prime Minister Shinzo Abe told a news conference Tuesday that Japan also will provide loans to help Malaysia in areas such as education, transportation and people exchanges. Malaysian Prime Minister Mahathir Mohamad, who returned to leadership this year, has long advocated learning from Japan's postwar economic growth. Earlier Tuesday, Emperor Akihito presented Mahathir with one of Japan's highest awards for his international and cultural achievement. /ee...Keep on reading: Japan to extend loan to help Malaysia’s debt problem.....»»

Source: Inquirer InquirerCategory: Nov 6th, 2018Related News

2018 fiscal deficit target unlikely to be met — DBM

The government may fail to meet its deficit ceiling for the year even as both revenues and spending are growing beyond their respective targets, according to the Department of Budget and Management (DBM)......»»

Source: Philstar PhilstarCategory: FinanceNov 2nd, 2018Related News

IMF ups Argentina financing deal to $56.3 billion

WASHINGTON/BUENOS AIRES -- The International Monetary Fund (IMF) on Friday increased the size of a standby financing agreement for Argentina to $56.3 billion in a deal that toughens previously agreed fiscal measures......»»

Source: Bworldonline BworldonlineCategory: FinanceOct 29th, 2018Related News

Fiscal incentives under the Trabaho Bill

By now, everyone is familiar with the Tax Reform for Attracting Better and High-quality Opportunities (Trabaho) bill, the second phase of Republic Act (RA) 10963, or the Tax Reform for...READ MORE The post Fiscal incentives under the Trabaho Bill appeared first on The Manila Times Online......»»

Source: Manilatimes ManilatimesCategory: Oct 27th, 2018Related News

Defensor asks P123M for road works, other expenses

By: Gail T. Momblan AFTER getting P559 million for hospital improvement and hiring of medical workers under Supplemental Budget No. 2, the administration of Gov. Arthur Defensor Sr. is asking another P123 million under SB No. 3 for fiscal year 2018. The Committee on Appropriations headed by Board Member Nielo C. Tupas has received the proposed […] The post Defensor asks P123M for road works, other expenses appeared first on The Daily Guardian......»»

Source: Thedailyguardian ThedailyguardianCategory: NewsOct 24th, 2018Related News

Q3 fiscal deficit nears government full year target

Q3 fiscal deficit nears government full year target.....»»

Source: Pep PepCategory: GossipOct 23rd, 2018Related News

Budget deficit closes in on program

THE GOVERNMENT’S fiscal deficit closed in on the program in the nine months to September, according to latest cash operations data from the Bureau of the Treasury (BTr) on Monday that showed state spending growth continuing to outpace an increase in revenues. The budget shortfall in the January-September period grew 78% to P378.2 billion from… link: Budget deficit closes in on program.....»»

Source: Manilainformer ManilainformerCategory: Oct 23rd, 2018Related News

Fight for a congressional fiscal integrity continues

Fight for a congressional fiscal integrity continues.....»»

Source: Thestandard ThestandardCategory: NewsOct 23rd, 2018Related News

National government fiscal performance (September 2018)

THE GOVERNMENT’S fiscal deficit closed in on the program in the nine months to September, according to latest cash operations data from the Bureau of the Treasury (BTr) on Monday that showed state spending growth continuing to outpace an increase in revenues......»»

Source: Bworldonline BworldonlineCategory: NewsOct 22nd, 2018Related News

Budget deficit closes in on program

THE GOVERNMENT’S fiscal deficit closed in on the program in the nine months to September, according to latest cash operations data from the Bureau of the Treasury (BTr) on Monday that showed state spending growth continuing to outpace an increase in revenues......»»

Source: Bworldonline BworldonlineCategory: NewsOct 22nd, 2018Related News

Budget deficit bloats in 9 months

The national government’s fiscal deficit widened to P378.2 billion in the first nine months of the year as the growth in its spending outpaced the increase in revenues, the Bureau of the Treasury (BTr) reported yesterday......»»

Source: Philstar PhilstarCategory: FinanceOct 22nd, 2018Related News

‘POOR FISCAL MANAGEMENT’: Defensor admin spent P36.735 M in loan interest payments in 3 years despite available cash

THE Iloilo provincial government finally terminated its P300-million loan with the Land Bank of the Philippines (LBP) this year after the Commission on Audit (COA) repeatedly called out the administration of Gov. Arthur Defensor Sr. for “poor fiscal management.” In fact, the provincial government squandered P36,735,299.01 for interest payments from 2015 to 2017, despite floating […] The post ‘POOR FISCAL MANAGEMENT’: Defensor admin spent P36.735 M in loan interest payments in 3 years despite available cash appeared first on The Daily Guardian......»»

Source: Thedailyguardian ThedailyguardianCategory: NewsOct 21st, 2018Related News

DOF expects Trabaho bill to create 1.4 million jobs

MANILA, Philippines – The Department of Finance (DOF) expects around 1.4 million jobs to be created between 2021 and 2029, should the Tax Reform for Attracting Better and High Quality Opportunities (Trabaho) bill  be enacted into law. The measure aims to cut the country's corporate income tax (CIT) by a third to 20% and give out fiscal incentives to "deserving" ........»»

Source: Rappler RapplerCategory: NewsOct 17th, 2018Related News

Economic execs turn cautious on targets

THE DEVELOPMENT Budget Coordination Committee (DBCC) on Tuesday slashed economic growth and fiscal goals and raised inflation forecasts in the face of tighter credit conditions, rising oil prices and a worsening Sino-US trade row. The post Economic execs turn cautious on targets appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: NewsOct 16th, 2018Related News