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Manila likely missed growth goal averaging 6% in 2023 – Moody’s
The Philippines is seen to have missed its goal of boosting local output expansion averaging at least 6 percent in 2023, having grown at a slower rate of only 4.9 percent in the fourth quarter last year, analysts at Moody's Analytics said on Monday.
US economy brushes aside recession fearmongering with strong Q4 performance
The U.S. economy grew faster than expected in the fourth quarter amid strong consumer spending, and shrugged off dire predictions of a recession after the Federal Reserve aggressively raised interest rates, with growth for the full year coming in at 2.5 percent.
Withholding tax on digital market operator, financial services provider now in effect – BIR
The Bureau of Internal Revenue (BIR) has clarified Revenue Regulation 16-2023 which imposes a withholding tax on the gross remittance of electronic marketplace (e-marketplace) operators and digital financial services providers (DFSPs) to sellers/merchants.
Philippines Dec trade deficit narrows to USD4.01B as imports fall
The Philippines’ trade deficit in December narrowed to USD4.01 billion from USD4.73 billion in November, as imports declined from the previous month at a faster clip than exports, data from the Philippine Statistics Authority showed Friday.
DOTr exercises regulatory forbearance and extends consolidation deadline another three months
For the nth time, the Department of Transportation (DOTr) announced on Thursday a final three-month extension for jeepney operators to consolidate under the public utility vehicle (PUV) modernization program. The extension is meant to boost the consolidation rate still higher to 85 percent in Metro Manila by the end of April.
