Unemployment rate eases in July but underemployment rate climbs

THE Philippine Statistics Authority reported on Thursday there were fewer jobless Filipinos in July this year as the unemployment rate declined while the employment rate improved.However, the number of underemployed workers also rose.The PSA said the unemployment rate declined to 5.2 percent in July, which is equivalent to 2.6 million jobless Filipinos. This was an […]

Tax Notes: Clarifications on the Provisions of RR No. 6-2022 Regarding Removal of 5–Year Validity Period of Receipts/Invoices

Q: When is the effectivity date of the regulation?A: July 16, 2022.Q: Who is covered by the regulation?A:​ a. Taxpayers who are using the principal and supplementary receipts/invoices.b. Taxpayers with or who will apply for:* Authority to Print (ATP),* Registration of Computerized Accounting System (CAS) or Computerized Books of Accounts (CBA), and* Permit to Use […]

NG budget deficit narrows in July

by Diego Gabriel C. Robles The National Government’s budget deficit narrowed in July, as government revenues grew by double-digits, the Bureau of the Treasury (BTr) reported on Friday, with economists attributing this to the uptick in business activity as pandemic restrictions continued to ease. In a statement, the BTr said the budget gap stood at […]

How minimum wages compared across regions in July

This infographic compares the current daily minimum wages set by the country’s Regional Tripartite Wages and Productivity Board and the inflation-adjusted minimum wages as of July based on latest preliminary data by the Philippine Statistics Authority (PSA). While the current minimum wages are determined at the regional level to account for factors such as companies’ […]