Category Archives: Business Environment

Government Defers Unsolicited Airport Project Proposals

The government plans to develop Sangley Point in Cavite (an old US Air Force base just south of Metro Manila) into an airport for smaller planes in order to decongest the main airport. Four multi-billion unsolicited proposals from the private sector will be deferred in the meantime, with the Department of Transportation claiming that the government has the funds to undertake the project… Continue reading

TradeNet Platform to Reduce Processing Time for Trade Permits

The government will pilot test next month the TradeNet platform, which seeks to modernize and hasten the processing of import and export permits. The online platform will connect 66 agencies and 10 economic zones involved in regulating trade. If successful, it will be fully implemented in September and connected to the ASEAN window by December. The eventual target is to reduce processing time to one hour from… Continue reading

Angara Nixes Lower House’s Sugary Tax Proposal

Senate Ways and Means Committee chairman Sen. Juan Edgardo Angara said that he would forward a different proposal to the HoR-approved bill on sugar sweetened beverages. The HoR version sought to impose a two-tier system that would charge excise taxes of P10 for beverages that use local sugar and P20 for internationally produced beverages. Angara, however, got support from the Department of Foreign Affairs, Trade, and Finance about the WTO-complications, impracticality, and ineffectiveness of the… Continue reading

Volume of Production Index Up 5.9% in April

The manufacturing sector expanded at a slower rate last April, with the volume of production index growing by only 5.9% year on year. This was lower than the revised 12.8% recorded in March and the 10.1% posted in the same month last year. Double digit increases in nine sectors such as fabricated metal, furniture and fixtures, and petroleum products were partially offset by declines in seven other sectors led by chemical products… Continue reading

SEC to Increase to 20% Minimum Public Float for Listed Companies

The Securities and Exchange Commission will require starting 1 July all companies applying for listing on the exchange a minimum public float of 20 percent of their issued and outstanding shares Companies already listed but below the 20-percent requirement will be given three years to comply. They will be required to increase their public float from the current 10-percent minimum to at least 15 percent before the end of 2018, and… Continue reading

Senate to Tackle First Tax Reform Proposal; Watered- Down Version Expected

After finally getting passed by the House of Representatives, the tax reform proposal will now go to the Senate where it is expected to encounter further revisions. Ways and Means Committee head Sen. Juan Edgardo Angara has questioned the proposal before, saying that the overall effect would lead to additional burden for the poor. Senate President Pro-tempore Ralph Recto also doubts the administration’s capacity to absorb… Continue reading

Lower House Approves First Tax Reform Proposal

The House of Representatives finally passed the first tax reform proposal of the Department of Finance. The bill lowers personal income tax rate from 32% to 25% except for the highest income bracket, whose rate has been increased to 35%. To offset this measure, additional taxes will be charged on fuel products, automobiles, and sugary… Continue reading