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Engineering conglomerate DMCI Holdings Inc. on Wednesday reported that its income for the first quarter more than doubled to P11.3 billion from the previous year’s P4.3 billion, its highest-ever quarterly profit. The company said its record performance was mainly driven by the robust operating results of its coal, nickel and…
Cosco Capital Inc., the listed retail holding firm of businessman Lucio L. Co, said its income in 2021 grew 5 percent to P10.5 billion from the previous year’s P10 billion. The company said its income for the period is also 13 percent higher than the pre-pandemic consolidated core net income…
Conglomerate San Miguel Corp. (SMC) said its income in the first quarter fell 19 percent to P13.94 billion from last year’s P17.17 billion due to the weak performance of its food and beverage and power businesses. The company’s recurring income, which strips off the adjustment from the Corporate Recovery and…
Philippines: BIR Issues Clarifications On VAT Zero-Related Transactions In Revenue Regulations No. 21-2021. Legal News and Analysis - Philippines - Tax -
The implementation in Revenue Regulations (RR) 5-2021 of the provisions of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) on the taxability of proprietary educational institutions and hospitals has created confusion, particularly those in the educational sector. Pursuant to CREATE, proprietary educational institutions are imposed a preferential tax…