Economy
BIR tightens risk-based audits to give taxpayers certainty
Businesses are set to face a more targeted tax audit system as the Bureau of Internal Revenue (BIR) shifts taxpayer selection toward measurable compliance risks and tightens rules governing revenue examinations.
Coconut trade fair sales surge threefold to P309.6M
Sales generated by coconut micro, small, and medium enterprises (MSMEs) more than tripled to P309.57 million at this year’s COCONUTPhilippines Trade Fair, pointing to stronger demand for higher-value Philippine coconut products.
SEMPHIL expansion draws 30 Korean suppliers
Samsung Electro-Mechanics Philippines Corp.’s (SEMPHIL) P50.7-billion expansion is starting to draw interest from its Korean supply chain, with about 30 Tier 1 suppliers of parent Samsung Electro-Mechanics Co. Ltd. (SEMCO) expected to come to the Philippines in October to assess potential local investments.
PCCI backs $110B electronics export target
The Philippine Chamber of Commerce and Industry (PCCI) is backing the electronics industry’s push to raise exports to USD110 billion by 2030, but said achieving the target will depend on how quickly the government and industry can turn the new roadmap into investments, skills, and higher-value semiconductor capabilities.
BCDA validates families for Clark manufacturing park
The Bases Conversion and Development Authority (BCDA) has started validating families and residents who could be affected by the proposed Clark Advanced Manufacturing Park (CAMP) in New Clark City, laying the groundwork for safeguards and assistance as the industrial project moves forward.
