No VAT exemption for property developers to benefit low-income renters, buyers
May 26, 2017
Apartment and other real property rentals of P10,000 and below will remain VAT-free while those leasing out condos and other housing units whose gross sales of receipts fall under the three million peso VAT threshold will also be exempt from this tax under the
Philippines, Russia ink several agreements
May 25, 2017
The Philippines and Russia have signed several agreements related to tourism, agriculture, defense cooperation, trade and industry, foreign affairs, transportation, culture and the arts, and energy, Malacanang said on Thursday. The signing of the agreement pushed through on May 24
Peso recovers, stocks up
May 25, 2017
The peso recovered from Thursday after hitting an intra-day low of P50 to the US dollar on the previous day. The peso closed at P49.83, up from Wednesday’s P49.995. Volume at the Philippine Dealing system reached $551.20 million from $582
Peso weakens to P50:$1 before closing at P49.995
May 24, 2017
The peso opened at P50 to one US dollar but gained slightly to close at P49.995 on Wednesday following the declaration of martial law in Mindanao by President Rodrigo Duterte. But stocks rose slightly, with the Philippine Stock Exchange gaining
Stocks gain slightly
May 22, 2017
Stocks closed slightly higher on Monday, as the Philippine Stock Exchange Index closed 38.95 points up to 7,706.57. But the broader market was lower, with 96 declines and 92 gainers while 42 issues were unchanged. Volume reached 1.81 billion shares
Gov’t losing P91b yearly from VAT exemptions: finance department
May 18, 2017
The Philippines’ antiquated tax code, which contains 59 lines of exemptions from the Value-Added Tax and 84 special VAT-related laws, have led to revenue leakages costing the government an estimated P90.7 billion each year, according to the Department of Finance
Stocks, peso gain slightly
May 16, 2017
Stocks rose on Tuesday, boosted by property issues and Petron Corp. The Philippine Stock Exchange Index closed 18.14 points higher to 7,791.07. At the broader market, there were 106 decliners, 92 gainers and 49 shares unchanged. Volume reached 1.46 billion
March personal remittances from overseas Filipinos hit record $2.9 billion
May 15, 2017
Personal remittances from overseas Filipinos (OFs) grew by 11.8 percent year-on-year, reaching a new record high of $2.9 billion in March 2017, the central bank said in a statement on Monday… This brought the total remittances for the first quarter
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