THE COUNTRY’S trade-in-goods deficit widened in February as imports grew for the first time in 22 months and exports contracted albeit at a slower pace, the government’s statistical agency reported on Thursday.
Merchandise imports rose by 2.7% to $7.60 billion in February following a 12.1% annual decline in January, preliminary data by the Philippine Statistics Authority showed.
The import tally for February was bigger than the $7.40 billion in February 2020, but smaller than the $8.40 billion in January 2021.
Moreover, the value of imports for February was lowest since June 2020’s $6.96 billion.
Nevertheless, February imports marked the first expansion in 22 months or since April 2019 when it posted an annual growth of 2.9%.
The Bureau of Internal Revenue main office in Quezon City. - File photo from Philippine Daily Inquirer
MANILA (Philippine Daily Inquirer/ANN): The Bureau of Internal Revenue (BIR) said that the April 15,2021 deadline for the filing of income tax returns (ITRs) and paying of income taxes stays.
Revenue Memorandum Circular (RMC) No. 46-2021 issued by BIR Commissioner Caesar Dulay on Tuesday (April 6) said that contrary to erroneous reports, “the deadline for filing [2020 annual income tax] return and payment of taxes due thereon is not extended.”
Dulay said the BIR will nonetheless accept tentative annual income tax returns as long as these were filed before or on the day of the mandatory deadline under the Tax Code.
April 7, 2021 | 8:37 pm Font Size
PHILIPPINE STAR/ MIGUEL DE GUZMAN
ECONOMIC MANAGERS are studying sources of funds for a fresh cash aid program in the event that the lockdown imposed on the capital region and nearby provinces is extended once more or expanded to more areas.
Budget Secretary Wendel E. Avisado confirmed that the economic team is studying funding for another round of cash aid if called on to do so in a third stimulus bill.
Budget Undersecretary Laura B. Pascua has said that the Development Budget Coordination Committee (DBCC) approved a new cash aid program but did not authorize a breach of the deficit cap, set at the equivalent of 8.9% of gross domestic product (GDP).
April 7, 2021 | 12:34 am Advertisement
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The strict lockdown and surge in coronavirus cases are expected to hurt Philippine economic growth this year. PHILIPPINE STAR/ MICHAEL VARCAS
THE Philippine economy is expected to grow below the government’s target this year, according to economic managers, as the capital region and nearby provinces were placed under the strictest form of lockdown to curb the spike in coronavirus disease 2019 (COVID-19) cases.
“I think it (economic growth) is going to be lower than what we expected,” Finance Secretary Carlos G. Dominguez III said in an interview with Bloomberg TV on Tuesday.
Budget Secretary Wendel E. Avisado said in a Viber message that the Cabinet’s Economic Development Cluster will discuss the possible revision of current growth targets in its April 19 meeting. The Development Budget Coordination Committee (DBCC) has yet to schedule its meeting.
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