Budget gap widens in Nov to P271.5B

BY DENNIS GADIL

Continuing slump in revenues widened the government deficit during the first 11 months of the year to P271.5 million, up 380.7 percent from last year’s pre-global crisis deficit of P66.7 billion and already 9 percent over the full year programmed deficit of P250 billion...(more)

GSIS eyes new buyer of GFB

BY DENNIS GADIL

The Government Service Insurance System (GSIS) has found a potential "white knight" in a foreign bank for the disposition of GSIS Family Bank (GFB)...(more)

Gov’t to run after SMEs for taxes

BY DENNIS GADIL

The Bureau of Internal Revenue (BIR) intends to open 2010 with "all guns blazing" as it vowed yesterday to run after rural-based small and medium enterprises (SMEs) operating market stalls – and even cockpits - which continue to evade the agency’s collection radar...(more)

Micro tax to raise P12M annually

BY DENNIS GADIL

For a change, government could rake in at least P12 million in fresh tax revenues annually should it impose a uniform two percent tax on micro-enterprises instead of the regular national and local taxes...(more)

Congressman Gloria seen as bad for business

BY DENNIS GADIL

President Arroyo’s run for a congressional seat and her declaration of martial law in Maguindanao could signal "more chaotic times ahead," a New York-based think tank said...(more)

Gov’t trims REIT tax losses

By Dennis Gadil

The Department of Finance (DOF) was able to trim down its projected annual revenue losses from the soon-to-be-enacted law providing incentives on investments related to financing and management of large-scale real estate projects by half from the original P5.3 billion P2.7 billion...(more)

Budget gap may hit P320B, 4% of GDP

BY DENNIS GADIL

The budget deficit may reach as high as P320 billion or 4.1 percent of GDP this year if the government fails to sell state assets before year-end, Finance Undersecretary Gil Beltran said...(more)