Finance

VAT collections to soften brunt of oil excise tax hike suspension

MANILA — Value added tax (VAT) collections from petroleum products are expected to partially compensate for lost government revenues arising from a suspension of the oil excise tax hike scheduled for 2019. Finance...

Banks ordered to report tech glitches w/in 2 hrs

MANILA -- The Bangko Sentral ng Pilipinas (BSP) will now be requiring all banks to submit an initial report on any cybersecurity issues in their system within two hours of its discovery. At...

Recommendation to suspend oil tax hike remains: Lambino

MANILA — A ranking official of the Department of Finance (DOF) said the recommendation of economic managers to suspend the second installment of the oil excise tax increase in 2019 remains despite...

Monetary execs say PH still robust amid peso weakness, CA deficit

MANILA -- Philippine monetary officials are not worried about the peso's current rate of depreciation since this was brought about by the demand for the US dollar, in line with the sustained...

Book imports, purchases to remain tax-exempt: DOF

MANILA -- The Department of Finance (DOF) has assured the public on Tuesday that the purchase and importation of books will remain tax exempt under the second tax reform package of the...

BSP cuts 14-day TDF offering for September 26 auction

MANILA -- The Bangko Sentral ng Pilipinas (BSP) cut the offering for its 14-day Term Deposit Facility (TDF) up for auction on September 26, 2018 by half to PHP10 billion on the...

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