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PH-US at 75: Strengthening ties through sustainable recovery Finance Secretary Carlos Dominguez 3rd © Provided by The Manila Times First of 2 parts (Remarks were delivered at a virtual economic briefing for senior executives of Philippine companies in the US and American companies in the Philippines and Philippine and US officials on April 15, 2021.) THIS pandemic is a test of fiscal stamina, and it was fortunate that when it hit us, the Philippines was financially ready. The fact that the Philippines managed to maintain its solid financial footing over the past year confirm...

Foreign business chambers and exporters groups have urged for the passage of other economic bills pending in Congress to complete the new Republic Act 11534, the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which they said is one of the most important fiscal bills enacted in t

Herd immunity in the Philippines might not be achieved until 2023 —Moody's Analytics Published March 17, 2021 11:57am By TED CORDERO, GMA News The Philippines is not likely to achieve herd immunity against COVID-19 until 2023, which could slow the pace of its economic recovery, according to Moody’s Analytics. In his Asia-Pacific Economic outlook, Moody’s Analytics chief economist for Asia-Pacific Steven Cochrane reiterated that the Philippines will lag behind its peers in the region in terms of recovering to its pre-pandemic economic growth. “Most of the region, if not alread...

March 18, 2021 | 12:33 am Font Size REUTERS THE CORPORATE RECOVERY and Tax Incentives for Enterprises Act (CREATE), which is now awaiting President Rodrigo R. Duterte’s signature, is projected to provide around P1 trillion worth of tax relief over the next decade, the Finance chief said. “CREATE is the largest fiscal stimulus program for enterprises in the country’s history, providing P1 trillion worth of tax relief over the next 10 years,” Finance Secretary Carlos G. Dominguez III said in his presentation at the Southeast Asia Development Symposium of the Asian Development B...

By Olivia Erika Susa Every so often, corporations undertake business restructuring with varying business objectives in mind. It could be to optimize or streamline business operations, to expand to other industries, or to form strategic alliances with other corporations. In most cases, these would involve the transfer or exchange of significant property or shares, the taxes related to which become a material consideration to the parties involved. To this end, Section 40(C)(2) of the Tax Code provides relief to taxpayers undertaking mergers, consolidations, or transfers of property to controlle...