PH ‘underspending’ vs COVID-19 risks
Foreign banks and think tanks have deemed the Philippines’ fiscal response to the COVID-19 pandemic as low compared to other countries in Southeast Asia and emerging market peers. They see…
COVID-19 relief: LGUs told to extend local tax deadlines to June 25
All local government units (LGUs)—provinces, cities, municipalities and barangays—have been ordered to extend until June 25 the deadline for payment of all taxes, fees and charges that were due during…
Kin, beneficiaries of 8 health workers who died of COVID-19 to get P12.9M from GSIS
Families and beneficiaries of eight public health workers who died giving care to COVID-19 patients but contracted the disease themselves would receive a total of P12.9 million in life insurance…
COVID-19 impact: Customs collection goal cut to P706.9B
The Duterte economic team has slashed the Bureau of Customs’ (BOC) target collection of import duties and other taxes for 2020 to P706.9 billion in light of the COVID-19 pandemic’s…
DOF orders LGU treasurers to monitor use of COVID-19 grants
The Department of Finance (DOF) has ordered local treasurers to monitor the use of grants that their local government units (LGUs) had received for COVID-19 response. The DOF’s Bureau of…
COVID-19 impact: Spanish think tank slashes PH growth forecast to 1.4 percent
Barcelona-based FocusEconomics has slashed its 2020 growth forecast for the Philippines to 1.4 percent as the COVID-19 pandemic and the local lockdown to fight the disease deeply hurt the economy.…
Lockdown app launched to track, buy basic supplies, get COVID-19 updates
An Australian firm recently launched a free mobile app designed to help communities respond to COVID-19 by enabling people and businesses to work together in tracking sources of essential goods…
BIR 2020 tax goal slashed to P2.26T as COVID-19 took toll on businesses
MANILA, Philippines – The Bureau of Internal Revenue’s (BIR) 2020 tax-collection target has been downscaled to P2.26 trillion in consideration of the COVID-19 pandemic’s impact on the economy. Revenue Memorandum…
PH’s $2.35B global bond issue a success despite COVID-19 pandemic, say execs
The Philippines’ $2.35 billion in US dollar-denominated global bonds fetched record-low coupons for its two tenors, auguring well for efforts to raise much-needed funds for the government, especially for COVID-19…
Globe employees raise P27.5M for COVID-19 assistance; includes PPEs, face shields for 50 hospitals
Globe Telecom employees have raised over P27.5 million from a fundraising initiative primarily aimed at providing much-need personal protective equipment, face shields, and face masks to healthcare workers in 50…