BusinessWorld
April 23, 2021 | 12:34 am
An employee shows 50 euro notes in a bank in Sarajevo in this March 19, 2012 file photo. REUTERS
THE Philippine government raised €2.1 billion (P122.4 billion) from a triple-tranche offering of euro-denominated bonds, the Bureau of the Treasury (BTr) reported.
The Philippines took advantage of the low interest rates in the euro bond market, as it sold €650 million (P38 billion) worth of four-year global bonds, another €650 million (P47 billion) worth of 12-year notes, and €800 million worth of 20-year debt papers.
Proceeds will be used to support this year’s national budget, as the country continues to struggle to contain the coronavirus disease 2019 (COVID-19) pandemic.
Published April 9, 2021, 11:34 AM
The Bureau of Internal Revenue (BIR) has released the 23-page implementing rules and regulations (IRR) for the reduction of corporate income tax (CIT) rate of companies and other business taxpayers as mandated by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law.
Bureau of Internal Revenue (BIR) (MANILA BULLETIN)
Department of Finance (DOF) Secretary Carlos G. Dominguez signed Revenue Regulations No. 5-2021 on the recommendation of BIR Commissioner Caesar R Dulay.
“These regulations are hereby promulgated to implement the new income tax rates on the regular income of corporations, on certain passive income and additional allowable deductions of person engaged in business and practice of profession,” the guidelines stated.
April 7, 2021 | 12:34 am Advertisement
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The strict lockdown and surge in coronavirus cases are expected to hurt Philippine economic growth this year. PHILIPPINE STAR/ MICHAEL VARCAS
THE Philippine economy is expected to grow below the government’s target this year, according to economic managers, as the capital region and nearby provinces were placed under the strictest form of lockdown to curb the spike in coronavirus disease 2019 (COVID-19) cases.
“I think it (economic growth) is going to be lower than what we expected,” Finance Secretary Carlos G. Dominguez III said in an interview with Bloomberg TV on Tuesday.
Budget Secretary Wendel E. Avisado said in a Viber message that the Cabinet’s Economic Development Cluster will discuss the possible revision of current growth targets in its April 19 meeting. The Development Budget Coordination Committee (DBCC) has yet to schedule its meeting.
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March 18, 2021 | 12:33 am Font Size
REUTERS
THE CORPORATE RECOVERY and Tax Incentives for Enterprises Act (CREATE), which is now awaiting President Rodrigo R. Duterte’s signature, is projected to provide around P1 trillion worth of tax relief over the next decade, the Finance chief said.
“CREATE is the largest fiscal stimulus program for enterprises in the country’s history, providing P1 trillion worth of tax relief over the next 10 years,” Finance Secretary Carlos G. Dominguez III said in his presentation at the Southeast Asia Development Symposium of the Asian Development Bank (ADB) on Wednesday.
Congress passed CREATE in February, but Mr. Duterte has yet to sign it. The priority measure will lapse into law on March 27.