Published May 14, 2021, 4:41 PM
The Securities and Exchange Commission (SEC) has received special citations from the Anti-Red Tape Authority (ARTA) for its efforts toward improving the ease of doing business in the country.
In the Ease of Doing Business Summit held last week, the ARTA recognized the Commission as a “Doing Business Competitiveness Ranking Mover” for instituting the most number of reforms considered in the World Bank’s Doing Business 2020 Report.
The ARTA likewise cited measures adopted by the SEC toward protecting minority investors (PMI), which served as “Big Impact Indicator” and “Most Improved Indicator” of ease of doing business in the Philippines, based on World Bank’s report.
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Suspension of the publication of the Doing Business Report (DBR) in August 2020 for data irregularities has revived criticisms to the instrument. Publication is expected to resume in 2021 but a new external panel has been tasked with reviewing the methodology once again (final report expected mid-June 2021). After 17 years driving economic policy and regulatory reforms including corporate income tax cuts and the reduction of worker rights and social protection benefits, t
Published May 7, 2021, 9:10 AM
The Anti-Red Tape Authority (ARTA) cited improvements in the country’s ease of doing business, but has asked the World Bank to review its survey methodologies to ensure that the country’s efforts are reflected in the overall ranking.
During the agency’s Ease of Doing Business (EODB) Summit titled “Forging Forward, Overcoming Adversity: Ease of Doing Business in the Time of Pandemic”, ARTA Director General Jeremiah Belgica reported the progress made in doing business in the country.
ARTA Director-General Jeremiah Belgica (FACEBOOK/MANILA BULLETIN FILE PHOTO)
One stark example of the development was the outcome of the 2020 World Bank – Doing Business Report where the Philippines ranked 95th out of 190 economies with a score of 62.8, jumping 29 notches from no. 124 and 57.68 score in 2019.
V. THE OTHER BATTLE: BACKLOG Fix your house and put it in order to shield very brilliant justices of the Supreme Court from this problem. BY STANLEY BUENAFE GAJETE April 30, 2021 | 11:30:00 PM
There is another uphill battle the Supreme Court is fighting: its backlog of cases. If the high court has a caseload of nearly 15,000 cases and the en banc and its divisions are only able to dispose of 105 and 923 cases a year, respectively, based on the court’s own disclosures in 2016, how are they expected to attend to them all?
It’s the high court’s biggest administrative headache, and the pressure is growing on the justices to get a handle of it.
SYDNEY and KUALA LUMPUR, Apr 13 2021 (IPS) - US Treasury Secretary Janet Yellen has urged all governments to support a global minimum corporate tax rate of at least 21%. The US is working with other G20 nations to get other countries to end the “thirty-year race to the bottom on corporate tax rates”.
Anis Chowdhury
Corporate tax vital
For Yellen, “governments [should] have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government”.
The Biden administration has unveiled a plan to reverse Trump’s tax cuts and raise US corporate tax rates from 21% to 28%. Crucially, it wants to increase tax rates on US firms’ overseas profits – global intangible low-tax income (GILTI) – from 10.5% to at least 21%. This should be calculated on a country-by-country basis including all tax havens, i.e., low- or no-tax locations, to minimise evasion.