DOF: GFIs can seek extended relief after Maharlika infusion
Government financial institutions Land Bank of the Philippines and Development Bank of the Philippines will likely seek an extension of its regulatory relief following contributions to the country’s sovereign wealth fund......»»
FPRRD to deal with ICC probe, won’t seek help from PBBM
FORMER President Rodrigo Duterte will be dealing with the International Criminal Court’s (ICC) probe regarding his administration's war on drugs, and won't seek any help from his successor, President Ferdinand "Bongbong" Marcos Jr......»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
Valentine’s relief: Mayor offers paid two-day break for single workers in Quezon
The town hall workers can either opt to indulge in a two-day break post-Valentine's, or they can bravely face the world and receive twice their daily rates for reporting for work.....»»
Fuel prices in Cebu City gas stations as of Feb. 13
CEBU CITY, Philippines — Motorists this week can expect a slight relief after fuel prices decreased with the implementation of a rollback on February 13, Tuesday. Local oil firms announced in separate advisories that the price of gasoline will decline by P0.60 per liter, diesel by P0.10 per liter, and kerosene by P0.40 per liter......»»
DOF mulls mining tax tweaks for royalties, windfall profits
The Department of Finance is pushing for higher rates and fewer tiers in taxing the extractive sector, but the mining industry argued that the proposed structure would make the sector more uncompetitive......»»
DOF finalizing P55.7 billion loan for Metro Manila subway
The government targets to secure P55.7 billion in loans from the Japanese government for the third tranche of financing for the Metro Manila Subway Projects by March......»»
DoF considering IPOs for LandBank, DBP
The Philippine News Agency reported that the Department of Finance, under new Secretary Ralph Recto, is “exploring amendments to the charters of the Land Bank of the Philippines and Development Bank of the Philippines”, which Mr. Recto said could include “their possible public listing, to broaden the local capital market.”.....»»
DOF drops income tax hike for dividend income
The Department of Finance revised the proposed Passive Income and Financial Intermediary Taxation Act to drop a planned increase in the income tax rate for dividend income......»»
Tax credit scam: 5 ex-DOF execs get 8 years
The Sandiganbayan has affirmed the conviction of five former officials of the Department of Finance for graft over the multibillion-peso tax credit scam in the 1990s......»»
DOF limits tax-exempt status for pickup trucks
The Department of Finance is pushing for only one kind of pickup truck to remain tax-exempt as it insists on the removal of special excise treatment on all other types......»»
British Chamber pushes for Anti-Agricultural Smuggling Act, lauds appointment of Recto as DOF Secretary
BCCP Executive Director/Trustee Chris Nelson reiterates support for the passage of the Anti-Agricultural Smuggling Act, one of the key priority legislation under the Marcos administration......»»
Rep. Ralph Recto itinalagang bagong finance secretary
MAY napili na si Pangulong Bongbong Marcos na bagong uupong hepe para sa Department of Finance (DOF). Kinumpirma ng Malacañang na ang itinalagang bagong finance secretary ay ang Deputy Speaker at Batangas Representative na si Ralph Recto. Ayon kay Presidential Communications Office Secretary Cheloy Garafil, nakatakdang manumpa sa pwesto si Rep. Ralph ngayong January 12......»»
Auto, EV players welcome possible tariff relief for hybrid, e-motorcycles
Automotive firms and electric vehicle players welcomed yesterday the potential expansion of the list of vehicles that can enjoy lower tariffs to include hybrid vehicles and e-motorcycles currently being studied by the government, saying that their inclusion may promote the shift to more environment-friendly transport options......»»
PUV consolidation deadline moved by 3 months
MANILA, Philippines — Jeepney drivers and operators who have yet to form themselves into cooperatives for the PUV consolidation can heave a sigh of relief, for now. President Marcos gave them until April 30, or three more months, to apply for consolidation under the government’s public utility vehicle modernization program (PUVMP). Presidential Communications Office (PCO).....»»
Restarting Business Operations After a Break
Taking a break from business operations can be a double-edged sword. While a hiatus, due to the recently concluded Holy Week, for example, may provide much-needed time for rejuvenation; the prospect of reigniting the flame and resuming operations can be daunting. However, with the right mindset and strategic approach, this transition can serve as the […].....»»
Bataan, Negros book MPBL wins
The Bataan Risers and Negros Muscovados took different routes toward victories in the 6th MPBL (Maharlika Pilipinas Basketball League) Season Monday night at the Kamalig Coliseum in Orion, Bataan......»»
Teodoro steers Mindoro past Bicol in MPBL
Teytey Teodoro found his groove in the homestretch and lifted the Mindoro Tamaraws past the Bicol Oragons, 84-81, on Monday in the 6th MPBL (Maharlika Pilipinas Basketball League) Season at the Kamalig Coliseum in Orion, Bataan......»»
Teodoro steers Mindoro past Bicol in MPBL
Teytey Teodoro found his groove in the homestretch and lifted the Mindoro Tamaraws past the Bicol Oragons, 84-81, on Monday in the 6th MPBL (Maharlika Pilipinas Basketball League) Season at the Kamalig Coliseum in Orion, Bataan......»»
Zamboanga trips Valenzuela in overtime of MPBL opener
Zamboanga Masters Sardines endured overtime before subduing Valenzuela Classics, 82-76, on Saturday right in the opening game of the MPBL (Maharlika Pilipinas Basketball League) Sixth Season at the Calasiao Sports Complex in Pangasinan......»»
Heart pinabulaanan ang tsismis na na-stroke, inatake sa puso si Chiz
RECENTLY lamang, kumalat sa social media ang tsismis na isinugod sa ospital si Senador Chiz Escudero, ang mister ng fashion icon na si Heart Evangelista. Nag-ugat ito sa isang blind item na ibinandera sa Facebook Live ng username na Maharlika noong Huwebes, April 4. Hindi na namin mahanap ang post, pero base sa inihayag ng.....»»