H1 tax effort down to 13.5%

BY DENNIS GADIL

Not even a better-than-expected economic growth in the second quarter could boost government’s tax effort during the first half of the year as it dropped by 120 basis points to 13.5 percent from 14.7 percent in the same period last year... (more)

3 prime properties lined up for privatization next year

BY DENNIS GADIL

Everything must go... (more)

Where your taxes go

BY DENNIS GADIL

It is not in the order of magnitude of a P1.2 billion executive jet, but the government is buying P40 million worth of T-shirts and car plates bearing the likeness of President Arroyo and the head of an agency who is said to be harboring senatorial ambitions... (more)

RP’s WTO case may affect tuna, electronics exports

The country may lose large orders of canned tuna and electronic products from European Union (EU) countries if the dispute before the World Trade Organization over the alleged discriminatory local taxation on liquor products drags on... (more) Dennis Gadil

RP’s WTO case may affect tuna, electronics exports

The country may lose large orders of canned tuna and electronic products from European Union (EU) countries if the dispute before the World Trade Organization over the alleged discriminatory local taxation on liquor products drags on... (more)Dennis Gadil

Now it’s P1.2B for Ayuntamiento

BY DENNIS GADIL

The Ayuntamiento building, the Spanish-era Manila city hall in Intramuros, will soon rise at a cost of P1.2 billion, with the Bureau of Treasury recently short-listing five construction for its reconstruction... (more)

LGUs told to remit barangays’ share in community tax

BY DENNIS GADIL

The Senate has reminded city and municipal governments to automatically release to their barangays the latter’s 50 percent share in the collection of community taxes... (more)

Public sector surplus jumps 34%

By DENNIS GADIL

The government’s overall public sector still managed to post a surplus in whole of 2008, a jump of 34.3 percent to P28.76 billion from the P21.35 billion surplus in 2007 despite the higher deficits incurred by state-run enterprises... (more)

P35B set for ERP 2010

By DENNIS GADIL

The government is earmarking an initial P35 billion in its 2010 national spending program to fund the second phase of its economic stimulus package or Economic Resiliency Package (ERP) II and ensure pump priming activities next year... (more)

Wanted: P1.2B new Palace jet

BY DENNIS GADIL

For a farewell fly-by, for campaigning or for a welcome gift to the next occupant of Malacanang?... (more)

DOF backtracks on sin tax deferment

BY DENNIS GADIL

The finance department (DOF) may have to break its commitment to Congress and industry players to defer the imposition of a new tax regime for "sin" products until 2012 by asking lawmakers and Malacanang to have the proposed measure passed now... (more)

Gov’t rules out 3rd global bond float

BY DENNIS GADIL

The government is ruling out a third foray into the global bond market this year despite uncertainties it could manage the budget deficit to the higher programmed gap of P250 billion for 2009... (more)

Economists’ next fear: El Niño

BY DENNIS GADIL

Now the weather... (more)

DBS sees no improvement in RP fiscal position

BY DENNIS GADIL

Foreign banks are not convinced that the government would be able to post a lower-than-expected budget deficit this year, with a Singaporean investment bank even seeing the funding gap hitting P340 billion as against the programmed P250 billion... (more)

Gov’t rejects bids for 5-yr bonds

BY DENNIS GADIL

The Bureau of Treasury rejected bids for yesterday’s five-year treasury bonds, saying it was puzzling that there was a huge volume of offers but at higher yields... (more)

Beware of promises of lower rates: DOF

BY DENNIS GADIL

Beware of infomercials promising lower power rates... (more)

DBCC sees lower-than-expected deficit

By Dennis Gadil

The Development Budget Coordination Committee (DBCC) has said stronger economic growth during the second half of the year would enable government to register a lower-than-expected budget gap of P248.3 billion for 2009, which is P1.7 billion "better" than the programmed deficit of P250 billion... (more)