SSS lauds senator for leading talks on pension fund’s charter changes
THE Social Security System (SSS) has welcomed the move of Sen. Richard J. Gordon to spearhead Senate discussions on the proposed charter amendments of the state-run pension fund.
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THE Social Security System (SSS) has welcomed the move of Sen. Richard J. Gordon to spearhead Senate discussions on the proposed charter amendments of the state-run pension fund.
Standard Chartered Bank has expressed interest in providing financial and technical assistance to the Philippines in implementing the proposed railway system in Mindanao under the Duterte administration’s “Build, Build, Build” infrastructure program, according to the Department of Finance (DOF).
The Department of Finance (DOF) said the remittances sent by overseas Filipino workers (OFWs) is not covered by the Comprehensive Tax Reform Program (CTRP) and, therefore, will not be taxed.
The Philippine Insurers and Reinsurers Association said the number of nonlife insurance companies will shrink to 54 from the current 63 by the end of the year, as some cannot afford to meet the paid-up capital requirement of the Insurance Commission of at least P1.3 billion by 2022.
The Bureau of Customs (BOC) has forged an alliance with Chinese counterparts to further boost Manila and Beijing’s anti-smuggling efforts and eliminate the illicit trade.
The government can collect some P433 billion in additional revenues, equivalent to 2.7 percent of GDP, by implementing reforms in the Bureau of Internal Revenue’s (BIR) tax policy and administration, according to the Department of Finance (DOF).
THE Philippine Insurers and Reinsurers Association (Pira) said it will continue to push for the decrease in tax rates imposed on the nonlife insurance industry, to be on a par with its Asean counterparts and to help maintain a competitive environment.
The Department of Finance (DOF) said the conflict happening in Marawi City in Mindanao should not derail the growth program and the government’s push for the buildup of infrastructure in the country.
The Insurance commission (IC) has issued a show-cause order against health-maintenance organization (HMO) Caritas Health Shield mandating the resolution of numerous complaints filed against it on alleged fraudulent swiping of credit and debit cards.
The top collecting agencies of the government reported increases in May, according to the Department of Finance (DOF).
The national government paid off a portion of its debt in April amounting to P26.289 billion, with interest payments slightly outpacing amortization for the period, Bureau of the Treasury (BTr) data showed.
The Philippines aims to find out if China-led Asian Infrastructure Investment Bank (AIIB) is keen on financing some of the country’s big-ticket infrastructure buildup programs on solo rather than as cofinancing basis like at present, Finance Secretary Carlos G. Dominguez III said last Friday.
Three government-owned and -controlled corporations (GOCCs) have remitted a total of P4.54 billion to the National Treasury, representing 50 percent of their respective cash dividends due to the national government for 2016.
Sun Life of Canada (Philippines) Inc. (Sun Life) plans reaching out to more or less 75 percent of all households in a financial-literacy program it has rolled out on its own.
The proposal imposing a uniform 6- percent tax for estates and donations on Tuesday gained the support of influential units within government and the private sector.
The government plan to replace the existing four-bracket excise tax on automobiles with a five-tier structure imposing higher rates on the pricier luxury-car segment should not prevent the industry from sustaining the growth momentum, the Department of Finance said.
The Insurance Commission (IC) has given preneed firm Provident Plans International Corp. (Provident Plans) only up to the middle of the month to come up with a white knight, or it will be placed under conservatorship.
The Bureau of Internal Revenue (BIR) underperformed in the first four months, but expressed confidence on Wednesday it could hit its full-year collection goal of P1.829 trillion.
The Department of Finance (DOF) said consumer prices should prove slower in May, likely reaching only 3.2 percent on the back of lower food costs, particularly vegetables.
THE pawnshop industry in the Philippines is expected to grow in the next few years, adapting to changes that the age of Internet and digital technology present.
The Department of Finance (DOF) is eyeing other cigarette manufacturers perhaps equally guilty of fraudulent practices that allow them to dodge paying the correct tax to the government.
The number of online-gaming operators in the country could balloon to as much as 86 in the coming months, raising the confidence of the Philippine Amusement and Gaming Corp. (Pagcor) that it would hit its P65-billion revenue target for the year.
After a four-year hiatus, the Bureau of the Treasury (BTr) sold P15 billion worth of 20-year Treasury bonds (T-bonds) auction on Tuesday on the back of strong demand for longer-yielding government security.
Finance Secretary Carlos G. Dominguez III has asked Japan to back an Asean
proposal allowing the 10 plus 3-nation consortium to obtain supplementary financing from the International Monetary Fund (IMF) without each having to submit to a formal IMF
borrowing program.
The Department of Finance (DOF) on Monday invited investment banks in Japan to explore opportunities in the country’s hybrid Private-Public Partnership (PPP) Program in line with the Duterte administration’s infrastructure buildup.
The largest Filipino life-insurance company, Insular Life Assurance Co. Ltd., which partnered with Union Bank of the Philippines (UnionBank) to offer bancassurance services to Filipinos, is positioning the partnership to become the dominant player in the country’s banca
ssurance industry.
The country’s economic managers said a weak peso should not bother Filipinos, as this will translate to higher tax revenues, additional monetary benefits for overseas Filipino workers (OFWs), and will support the country’s thriving business-process outsourcing (BPO) sector.
The Department of Finance (DOF) said on Thursday it wants more mining companies to support the Philippine Extractive Industries Transparency Initiative (PH-EITI), which currently has 36 supporter firms, to better implement reforms and good governance that help ensure sustainable mining in the country.
The state-run Social Security System (SSS) said it will release on Friday P1.77 billion representing the second tranche of the additional P1,000 benefit of 218,000 pensioners who availed themselves of the 18-month advance pension, including those with death, disability and retirement (DDR) claims.
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