“Senator (Juan Edgardo) Angara has reiterated today that the incentives will not be part of the budget and will only be an addendum. The way it was explained to the business community, it is more for statistical purposes and not for approval purposes,†he said.
Malacañang said yesterday efforts to decongest the ports were progressing and that importers and forwarders were now being urged to reduce trucking rates back to where they were prior to the congestion.
A proposal to cut the individual income tax rate to 25 percent from the present 32 percent is unlikely to happen before the end of the Aquino administration but a re-bracketing of the tax rates is doable, according to Sen. Sonny Angara.
The reduction of income tax rates for both individual and corporate taxpayers will not be achieved within the term of President Benigno S. C. Aquino III, Senator Juan Edgardo M. Angara said on Tuesday, citing pleas from some agencies to go slow on tax cuts.
A consortium of six high-profile organizations believes the country’s sugar industry can become more globally competitive if it becomes more energy efficient.
Senator Juan Edgardo “Sonny†Angara, chair of the Senate committee on ways and means, said that fiscal incentives granted to export-oriented enterprises should be maintained but there must be a sunset clause to incentives granted to prospective investors.
Foreign investors have expressed concern that the limited time left for the Aquino administration will not be enough to see the passage of legislations that seek to improve the economy and the way people are doing business in the Philippines.
A consortium of six high-profile organizations believes the country’s sugar industry can become more globally competitive if it can be energy-efficient.
As member countries of the Association of Southeast Asian Nations (Asean) implement regional economic integration within the year, Cebu exporters are highly encouraged to continue tapping the domestic market, says international furniture designer Kenneth Cobonpue.
The trade-facilitation pact that the Philippines is set to approve must be coupled with broader measures to ease trade, such as the improvement of the country’s infrastructure, according to a lead economist at the Asian Development Bank (ADB).
The government expects Manila’s ports to be able to handle increased transactions this year given measures that have been put in place to address congestion.
Carrying on its intention to become one of aeronautical sector’s references in the Philippines and Asia, PhilJets Group has just joined the prestigious aviation association, based in China: ASBAA, the Asian Business Aviation Association.
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