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CREATE bill hurdles Senate on final reading after DOF agrees to easing some provisions

Katrina Domingo, ABS-CBN News
Updated as of Nov 26 08:34 PM

The Senate on Thursday approved on final reading the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, after the Department of Finance (DOF) agreed to ease several provisions that might discourage investors from coming to the Philippines. Read more »

Senate settles deadlock on CREATE bill with separate tax rules for exporters, domestic players

Katrina Domingo, ABS-CBN News
Posted at Nov 25 12:14 AM

The Senate on Tuesday settled a deadlock on when incentives for several industries would end under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill by approving an amendment that would treat exporters and domestic players "differently." Read more »

Recto scoffs at DOF's hesitance to accept minor CREATE amendments

Katrina Domingo, ABS-CBN News
Posted at Nov 24 11:09 PM

Senate President Pro Tempore Ralph Recto on Tuesday scoffed at the Department of Finance (DOF) for nitpicking on several proposed amendments to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill. Read more »

Ikea furnishes strong results despite pandemic

Agence France-Presse
Updated as of Nov 24 09:56 PM

Consumers continued to spend strongly to furnish their homes despite the coronavirus pandemic, the holding company that includes most Ikea stores said Tuesday. Read more »

Megaworld income rebounds in third quarter, says 'optimistic' as economy reopens

ABS-CBN News
Posted at Nov 11 10:50 AM

Megaworld said its net income in the July to September period grew 7 percent to P2.2 billion from the previous quarter. Revenues also grew by 9 percent to P9.5-billion from P8.7-billion in the second quarter.    Read more »

Metro Pacific income down in Jan- Sept period, eyes recovery in 2022

ABS-CBN News
Posted at Nov 04 09:38 PM

Metro Pacific Investments Corp said revenues and profits should bounce back to 2019 levels by 2022. Read more »

SM Investments net income down 54 pct in Jan-Sept period as pandemic bites

ABS-CBN News
Posted at Nov 04 04:06 PM

SM Investments Corporation (SMIC) booked a net income of P15.2 billion in the January to September period, lower by 54 percent from P33.1 billion it posted in the same period last year, the company disclosed to the stock exchange Tuesday. Read more »

Billionaire Razon's ICTSI net income down 1 pct in Jan-Sept as pandemic slows global trade

ABS-CBN News
Posted at Nov 04 02:50 PM

Port operator International Container Terminal Services Inc (ICTSI) said its net income was down 1 percent in the first 9 months of the year due to the impact of the COVID-19 pandemic on global shipping.    Read more »

As tax base shrinks during pandemic, proposed law seeks to cut revenue sources

Robert JA Basilio Jr., Philippine Center for Investigative Journalism
Posted at Oct 30 05:00 PM

The Duterte government is pushing for a bill cutting the corporate income tax in exchange for strict limits to tax perks enjoyed by investors. Economists however warn against eroding the revenue base at a time of a pandemic, when funds are needed the most. Read more »

Del Monte Philippines completes P6.47-B bond issuance

ABS-CBN News
Posted at Oct 28 04:39 PM

Del Monte Philippines Inc (DMPI) on Wednesday said it raised P6.47 billion in its first bond issuance, and intends to list the securities on the Philippine Dealing & Exchange Corporation on Oct. 30. Read more »

Senate eyes early session resumption to tackle 2021 budget, CREATE bill: Zubiri

Katrina Domingo, ABS-CBN News
Posted at Oct 15 01:35 PM

Senate Majority Leader Juan Miguel Zubiri on Thursday said the Senate plans to resume session a week earlier in November to work on the passage of the 2021 budget and a bill that will rationalize corporate income taxes, 2 measures cited as priorities of the executive branch. Read more »

Imee Marcos seeks to 'defer' removal of tax incentives under CREATE bill

Katrina Domingo, ABS-CBN News
Posted at Oct 12 09:42 PM

Senate Committee on Economic Affairs chair Imee Marcos on Monday sought for the "outright deferment" a bill that would reduce incentives given to several businesses, saying the government needs to "protect" investors who have been creating jobs and generating revenue for the Philippines for several decades. Read more »

How making business more democratic can improve global governance

Dani Rodrik, South China Morning Post
Posted at Oct 12 12:42 AM

Firms can become a reliable partner for the social good only when they speak with the voices of those whose lives they shape. Read more »

Fellow senators' push for Bulacan airport bill irks Pia Cayetano

Katrina Domingo, ABS-CBN News
Updated as of Oct 06 12:00 AM

Sen. Pia Cayetano on Monday ranted in plenary after the Senate leadership denied her request to be given at least a day to study a bill that would grant San Miguel Corp. a franchise to build the Bulacan Airport. Read more »

Change looms in PSE Board in November: sources

ABS-CBN News
Updated as of Oct 01 06:26 PM

Two ABS-CBN sources said on Wednesday that there will be a change in the leadership of the Board of the Philippine Stock Exchange in November.  Read more »

Recto wants long-time ecozone investors exempted from new tax rates under CREATE

Katrina Domingo, ABS-CBN News
Posted at Sep 23 11:03 PM

Recto pushed for the inclusion of a "grandfather rule" -- which allows existing investors in the country to enjoy status quo, while a new rule is applied to future investors -- in the Corporate Recovery and Tax Incentives for Enterprises bill. Read more »

PH 'exceeds' P2.2-T estimated tax revenue this year, says Finance chief

Katrina Domingo, ABS-CBN News
Posted at Sep 23 02:03 PM

Finance Secretary Carlos Dominguez on Wednesday said the Philippines has already exceeded this year's estimated P2.2 trillion tax revenue as early as August. Read more »

Xurpas gets board nod to acquire US tech venture capital firm Wavemaker

ABS-CBN News
Posted at Sep 21 03:07 PM

In a disclosure to the stock market, Xurpas said it will purchase 100 percent of Wavemaker Group Inc for approximately P170 million. Read more »

Why startup SmartBite is bullish about its future despite the bleak business atmosphere

ANCX Staff
Updated as of Sep 18 08:24 PM

The corporate catering outfit is confident they could convince more local offices to feed their workforce with pre-designed meal plans  Read more »

PLDT chair Pangilinan 'worried' over GDP contraction even as telco posts profit

ABS-CBN News
Posted at Aug 06 10:04 PM

Pangilinan said the 16.5 percent contraction of the Philippine GDP in the second quarter, which has been described as the worst in history based on available data, was “worrisome.” Read more »