Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
319 articles from BusinessWorld Economy
Proposal to remove system-loss VAT charge reaches ERC level
THE Energy Regulatory Commission (ERC) is proposing to scrap the 12% value-added tax (VAT) from electricity losses charged to consumers to reduce their costs, which is expected to result in P6 billion savings.
Read more →LGUs allowed to tap development funds for oil storage, renewable energy facilities
LOCAL GOVERNMENT UNITS (LGUs) have been cleared to tap their development funds to build oil storage facilities and renewable energy infrastructure as the government seeks to mitigate the impact of global fuel supply disruptions. In Joint Memorandum Circular (JMC) No. 1 dated Aug. 4, the Department of Budget and Management, Department of Finance and Department […]
Read more →DTI, ADVANCE.CBP to establish MSME credit information registry
THE Department of Trade and Industry (DTI) and ADVANCE.CBP (Advintel, Inc.) signed a memorandum of understanding last week to establish a credit information registry for micro, small and medium enterprises (MSMEs). SME Trust will carry MSMEs’ verified business profiles, which lenders and other firms may use for assessment prior to approving loans or entering business […]
Read more →Bidding launched for P1.24-billion Tacloban, Busuanga airport deals
THE Department of Transportation (DoTr) said it opened the bidding for the P1.24 billion worth of contracts for the development and rehabilitation of Tacloban and Busuanga airports. In separate bid notices issued on Tuesday, the DoTr said P695.25 million was allotted for the civil works and rehabilitation contract for Tacloban Airport. The project covers airside […]
Read more →NGO urges BFAR to stand firm on vessel monitoring after SC ruling
OCEANA PHILIPPINES urged the Bureau of Fisheries and Aquatic Resources (BFAR) to defend the vessel monitoring measures (VMM) components of fisheries law struck down by the Supreme Court (SC), which has been asked to reconsider.
Read more →DTI, Converge open new hub to help startups integrate AI
THE Department of Trade and Industry (DTI) said it is leveraging specialized training and pitching opportunities to help startups integrate artificial intelligence (AI) and digital tools directly into their operations. On Tuesday, the DTI and Converge ICT Solutions, Inc., launched the DTI AI and Scale-Up Center, which seeks to provide visitors and participating enterprises access […]
Read more →Japanese chamber, ARTA sign partnership to reduce red tape
THE Japanese Chamber of Commerce and Industry of the Philippines, Inc. (JCCIPI) has partnered with the Anti-Red Tape Authority (ARTA) to help Japanese firms’ issues on ease of doing business. In a statement, ARTA said the two parties signed a memorandum of understanding (MoU) on Aug. 5, which designates the JCCIPI and its nationwide members […]
Read more →Infrastructure capital outlays to decline this year
NATIONAL GOVERNMENT infrastructure and other capital outlays are projected to decline 15.1% to P931.54 billion this year before recovering slightly in 2027, although they will remain below the P1-trillion level. According to the 2027 Budget of Expenditures and Sources of Financing, this year’s infrastructure and other capital outlays are expected to decline from P1.1 trillion […]
Read more →House panel passes higher tax-free income threshold, small-business MCIT removal
THE House of Representatives Committee on Ways and Means approved measures raising the income threshold eligible for tax-free treatment to P350,000 from P250,000 and discontinuing the 2% minimum corporate income tax (MCIT) for micro and small businesses. House Bill (HB) No. 10345 seeks to amend Section 24 of the National Internal Revenue Code by restructuring […]
Read more →PHL obtains $600-M healthcare grant from US
THE PHILIPPINES obtained a $600-million grant from the US to expand access to quality healthcare and strengthen the system’s resilience against public health threats, the Department of Finance (DoF) said. In a statement on Monday, the DoF said the Strategic Objective Grant Agreement (SOAG) for Integrated and Sustainable Health Systems in the Philippines supports efforts […]
Read more →PCCI urges immediate signing of JAO to address port congestion, high logistics costs
THE Philippine Chamber of Commerce and Industry (PCCI) called for the immediate signing of the joint administrative order (JAO) that will establish a framework to help ease port congestion and regulate cargo handling charges. In a statement on Monday, the PCCI said the JAO will address the high logistics costs, non-transparent ancillary charges, and recurring […]
Read more →PHL well-stocked with food as El Niño looms — DA
AGRICULTURE Secretary Francisco P. Tiu Laurel, Jr. said food stocks are ample ahead of the El Niño event expected later this year, while crop production is being optimized and assistance to affected farmers is being readied. In an interview on the Money Talks with Cathy Yang on One News program on Monday, Mr. Laurel said inventories […]
Read more →Upholding due process in BIR tax assessments
Taxation is one of the inherent powers of the State. The famous dictum of the US Supreme Court Chief Justice John Marshall in McCulloch v. Maryland that “the power to tax involves the power to destroy” has long illustrated the breadth of the taxing power of the State. Taxes are the lifeblood of the government […]
Read more →DENR sees potential P38T in forestry investments
THE Department of Environment and Natural Resources (DENR) said it will open up suitable forest land for investment, adding that forests could generate up to P38 trillion from parties interested in developing them. Sustainable forestry investments are projected to generate P38 trillion in production value from 2027 to 2052, specifically from agroforestry and tree plantation […]
Read more →Abalos offers mediation between firms, agencies to advance EoDB agenda
CABINET SECRETARY Benjamin D. Abalos, Jr. said he is available to mediate between businesses and government agencies to advance the implementation of the Ease of Doing Business (EoDB) law. Mr. Abalos had met with a delegation representing the Philippine Chamber of Commerce and Industry, the Philippine Exporters Confederation, Inc.; Philippine Stock Exchange Council of Leaders; […]
Read more →LGU applications to incur debt hit P8.49B in July
THE NUMBER of debt certifications issued by the Bureau of Local Government Finance (BLGF) more than tripled in July, covering P8.49 billion in proposed local government borrowing. The BLGF issued 22 new Certificates of Net Debt Service Ceiling and Borrowing Capacity during the month, more than triple the seven certificates issued in July last year. […]
Read more →PHL lobbies US for removal of 12.5% forced-labor tariff
THE US has already received the Philippine government’s joint administrative order (JAO) to investigate the import of goods made with forced labor, in a bid to get Washington to reconsider the 12.5% tariff imposed in its exports, a trade official said. “We are in close coordination with the USTR (US Trade Representative) in terms of […]
Read more →Poultry, livestock output seen positive in Q2 due to strong supply, production
POULTRY and livestock in the second quarter are estimated to have improved year on year due to excess supply of poultry and improved livestock and hog production, industry officials said. Elias Jose M. Inciong, chairman of the United Broiler Raisers Association, said poultry output is expected to increase, with the surplus offsetting poor farmgate prices […]
Read more →NGO bats for more safeguards to prevent corruption in budget
GOVERNMENT WATCH Convenor-Director Joy G. Aceron said the budget should be accompanied by stronger corruption-prevention measures. “The DBM must push the agencies more to identify and address corruption- and inefficiency-prone programs and projects,” she said. Ms. Aceron said the Department of Budget and Management (DBM) should examine Commission on Audit (CoA) reports and address their […]
Read more →Philguarantee-covered agri loans up 43% in first half
AGRICULTURAL LOANS covered by the Philippine Guarantee Corp. (Philguarantee) rose 42.96% in the first six months, driven by increased lending activity by partner lending institutions (PLIs) supporting small farmers and fisherfolk (SFFs). In its Agricultural Guarantee Fund Pool status report, the state-run corporation said year to date total guaranteed loans hit P3.34 billion at the […]
Read more →What finance leaders need to know about upcoming PFRS changes
For many finance teams, reporting obligations seemingly continue to expand. However, as businesses grow more complex, financial reporting does not always need to become heavier. The latest Philippine Financial Reporting Standards (PFRS) developments point toward a more proportionate approach — one that balances transparency, relevance, and practicality. Finance leaders should note three key developments: (1) […]
Read more →IPOPHL seeking to raise IP rights awareness among students
THE Intellectual Property Office of the Philippines (IPOPHL) said it wants to collaborate with the Department of Education (DepEd) and Commission on Higher Education (CHED) to increase student awareness of intellectual property (IP) rights. “We’re looking forward to sitting down with DepEd and CHED to see how we could be able to increase the understanding […]
Read more →STT GDC investment expected to support domestic supply chains, elevate job quality
THE Department of Trade and Industry (DTI) said investment by Singapore data center company ST Telemedia Global Data Centres (STT GDC) is expected to support domestic supply chains and create high-paying technical jobs. “Beyond building essential digital infrastructure, STT GDC’s expansion — strengthened by its local partnership with Ayala Corp. and Globe — directly stimulates […]
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