The remittances of some two million overseas Filipinos have steadily declined since its peak more than 20 years ago, based on data obtained from the World Bank.
A legislative bill seeking to amend the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and revise its value-added tax (VAT) provisions has been approved at the House committee level.
The Philippines attracted strong investor interest for its maiden Sukuk bond offer, allowing one of Asia’s most active sovereign borrower to price the debt paper at a lower profit rate.
The Employers Confederation of the Philippines (ECOP) is strongly opposed to the planned increase next year of the premium contribution to the Philippine Health Insurance Corporation (PhilHealth), saying the state health insurer needs to improve its services first.