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BIR surpasses collection target in July 2023; collection grew by more than 38%

The Bureau of Internal Revenue (BIR), under the leadership of Commissioner Romeo D. Lumagui, Jr., collected ₱ 273.134 Billion (net of tax refund) in July 2023, surpassing its collection target by 5.09% or ₱ 13.224 Billion for the said month. Said collection is higher by 38.37% or ₱ 75.744 Billion…
Patrick Roque Romeod Lumagui Jr Bureau Of Internal Revenue Internal Revenue Commissioner Romeo Gross Collection

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Sandigan affirms dismissal of civil case vs coconut firms

THE Sandiganbayan’s Second Division has affirmed its ruling issued on May 16, 2023 dismissing a civil forfeiture case filed by the Presidential Commission on Good Government (PCGG) involving multibillion-peso coco levy funds collected from the country’s coconut farmers during the term. In an eight-page resolution dated July 31, 2023, the anti-graft…
Cojuangco Jr Eduardom Cojuangco Jr Patrick Roque Sandiganbayan Second Division Cocofed Marketing Corp Coconut Producers Federation Inc

Standard Chartered foresees interest rate cut in December until Q3 2024

The Bangko Sentral ng Pilipinas (BSP) may cut interest rates by a total of 75 basis points starting in December this year until the third quarter of next year, according to British multinational bank, Standard Chartered. In a briefing on Friday, Standard Chartered said they expect a 25 basis point…
United Kingdom Arseniom Balisacan Jonathan Koh Patrick Roque Bangko Sentral National Economic

Hot money inflows in June rise 5.3% to $889M

AFTER four consecutive months of decline, the country’s foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) through its authorized agent banks (AABs) posted inflows in June. Data showed hot money inflows reached $889 million, higher by $45 million or a growth of 5.3 percent compared to the $845…
United States United Kingdom Patrick Roque Bangko Sentral Philippine Stock Exchange Peso Government Securities

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