MEMBERS of the House Committee on Ways and Means have proposed to the Department of Trade and Industry (DTI) and the Bureau of Internal Revenue (BIR) the revocation of the business permit and manufacturing license of a well-known vape brand, along with legal action for tax code violations, as estimated foregone tax revenues amounted to P728 million due to alleged technical smuggling.
A technical working group (TWG), which will be spearheaded by the Department of Justice (DOJ) and composed of the Department of the Interior and Local Government (DILG), Department of Agriculture (DA) and the Department of Trade and Industry (DTI), will be created to address the issue on the movement of pork and other raw materials within agricultural zones.
The Philippines underscored the need to focus on technological innovation and research and development (R&D) areas, as it bared a new trade strategy with Washington, noting that trade between the two nations should go beyond the “traditional focuses” on tariffs and market access.
THE decision on the procurement of modern jeepney models will rest solely with the cooperatives and operators, not the government. The Land Transportation Franchising and Regulatory Board (LTFRB) made this clear on Tuesday as the agency chairman, Teofilo Guadiz III, said it comes as part of the ongoing Public Utility Vehicle Modernization Program (PUVMP).
To help lower the price of goods and services, President Ferdinand R. Marcos Jr. has prohibited local government units (LGU) from collecting pass-through fees for delivery vehicles on national roads, and those unfunded by Republic Act (RA) No. 7160 or the Local Government Code (LGC).
THE Philippine Chamber of Commerce and Industry (PCCI) has inked an agreement with the Department of Trade and Industry (DTI) to establish a partnership between the government and the business community to leverage on free-trade agreements (FTAs), preferential trade agreements (PTAs), Economic Partnership Agreements (EPAs), among others, of the Philippines with other countries.
The chairman of the House Committee on Appropriations on Monday said lawmakers are eyeing an increase in the budget allocation for the Department of Trade and Industry (DTI) next year to boost investments and create more jobs while developing more products that the Philippines may be able to export.
The 16th International Food Exhibition (IFEX) Philippines, an international food and ingredients trade show, posted a 52-percent increase in export sales of $162 million in actual and negotiated export sales, compared with its 2022 edition, according to the Center for International Trade Expositions and Missions (CITEM).