THE Fiscal Incentives Review Board (FIRB) said it expects to complete soon uniform rules to govern the suspension or withdrawal of tax incentives from registered enterprises that do not comply with the conditions of the grant, the Department of Finance (DoF) said on Thursday. “The guidelines are meant to provide uniform rules for imposing penalties […]
Tag: fiscal
Japan’s TDK hard drive equipment project worth P2.5B approved by FIRB
THE Fiscal Incentives Review Board (FIRB) on Tuesday approved the tax incentives application of TDK Philippines Corp. for a P2.5-billion manufacturing project, the Department of Finance (DoF) said. TDK proposes to make microwave-assisted magnetic recording sliders, industrial equipment used in hard drive manufacturing. The approval of the application for fiscal incentives “is a boost to […]
BoI tallies 163 IT-BPM projects endorsed for transfer from PEZA
THE Board of Investments (BoI) has received 163 endorsements of information technology and business process management (IT-BPM) projects seeking to transfer their registration from the Philippine Economic Zone Authority (PEZA), according to the Department of Trade and Industry (DTI). The DTI said the BoI tally is as of Nov. 17, of which 55 have paid […]
Stocks surge on strong peso, narrower deficit
PHILIPPINE STOCKS surged on Thursday as the peso continued to recover against the dollar and as the government’s fiscal deficit narrowed in September. The benchmark Philippine Stock Exchange index (PSEi) rose by 109.05 points or 1.78% to close at 6,230.58 on Thursday, while the broader all shares index gained 39.11 points or 1.2% to finish […]
Philippines eyeing ‘green investments’ despite tight fiscal space, Diokno says
THE government can pursue green investments despite the limited fiscal space, Finance Secretary Benjamin E. Diokno told an Asian Development Bank (ADB) conference, adding that such investments were factored in when the Philippines started drafting its medium-term goals. “All these programs are embedded in our medium-term development plan that we are designing at the moment,” […]
Outsourcing firms may continue WFH scheme if they register with BoI
BUSINESS PROCESS OUTSOURCING firms can continue work-from-home (WFH) arrangements and receive fiscal incentives if their registration is transferred to the Board of Investments (BoI), Finance Secretary Benjamin E. Diokno said on Thursday. “The FIRB (Fiscal Incentives Review Board) met (on Wednesday) and we decided there will be a smooth transfer of benefits from the PEZA […]
Moody’s affirms PHL credit rating
MOODY’S INVESTORS SERVICE on Thursday kept the Philippines’ “Baa2” credit rating with a “stable” outlook, as economic recovery is unlikely to be hampered by “challenging global credit conditions.” In a statement on Thursday, the credit rater affirmed the country’s long-term local and foreign currency issuer and senior unsecured ratings at “Baa2.” “The rating action […]
Year-End Review: DENSO Advances its Two Great Causes, Green and Peace of Mind
KARIYA, JAPAN, Apr 29, 2022 – (JCN Newswire via SEAPRWire.com) – DENSO, a leading mobility supplier, today announced its global year-end financial results for its fiscal year ending March 31, 2022. DENSO’s product and technology developments, partnerships, and other actions and achievements continue to be guided by its Two Great Causes: Green – achieving carbon […]
Hitachi’s Business Situation in Ukraine and Russia
TOKYO, Mar 10, 2022 – (JCN Newswire via SEAPRWire.com) – Hitachi Group considers the safety and health of all employees and their families as its top priority. In Ukraine, the company is engaged in various activities to realize this goal and hopes that peace will return as soon as possible. In Ukraine, there are engineering […]
Online submission portal to help track impact of incentives
THE National Tax Research Center plans to ask investors to submit reports online that would help the government assess the economic impact of the tax incentives it approves, the Department of Finance (DoF) said. The DoF said potential investors have been able to submit tax incentive applications on the online portal known as the Fiscal […]
DENSO Releases Financials for First Half of Fiscal Year, Shares Long-Term Policy 2030 Progress
KARIYA, JAPAN, Oct 29, 2021 – (JCN Newswire via SEAPRWire.com) – DENSO, a leading mobility supplier, today released its financial results for the first half of its fiscal year, ending September 30, 2021, for its 2022 fiscal year, ending March 31, 2022. The company also shared updates it has made in advancing its Long-Term Policy […]
National Government Fiscal Performance
Regina Miracle 2H Orders Exceed Pre-Pandemic Levels, Drives Full-Year Revenue and Adjusted Net Profit in Fiscal 2021 to Approximately HK$5.97 Billion and HK$175.3 Million Respectively
HONG KONG, Jun 30, 2021 – (ACN Newswire via SEAPRWire.com) – Regina Miracle International (Holdings) Limited (“Regina Miracle” or the “Company”, together with its subsidiaries, collectively the “Group”) (HKEX: 2199), a leading global intimate wear company boasting an Innovative Design Manufacturer (“IDM”) business model, has announced its annual results for the year ended 31 March […]
Budget deficit to remain wide until 2022
THE GOVERNMENT is likely to run a wide fiscal deficit until 2022 as it supports the economy amid the coronavirus crisis, Fitch Solutions Country Risk & Industry Research said. “We see limited risks from running wide deficits in the near term given the economy’s need for demand and investment. However, longer-term pressures on public finances […]
Gov’t Q1 tax effort improves
The share of tax collections in the country’s economic output rose to a record first quarterl level of 14.41% in January to March, according to the Department of Finance (DoF), a sign of improved economic activity amid a coronavirus pandemic. State tax revenue went up by 0.44 percentage point during the quarter from a year […]