“Despite the deceleration of global growth, and with the backdrop of increasing uncertainty in the US and in the Eurozone, our second quarter growth was at a respectable 5.9%, beating market expectations and placing us at the upper end of our full year forecast. This brings our first semester growth to 6.1%, well beyond the 4.7% average gdp growth of the country in the last decade.
Read MoreTRANSCRIPT: Finance Sec. Cesar V. Purisima in the Cebu Roadshow, August 2012
The Bureau of Internal Revenue (BIR) today filed a criminal complaint with the Department of Justice against MA. CARLA BEATRIZ C. CASTILLO (CASTILLO) for willful attempt to evade or defeat tax and for deliberate failure to file her Income Tax Return (ITR), for taxable year 2010, in violation of Section 254 and Section 255 of the National Internal Revenue Code of 1997, as amended (Tax Code).
Read MoreThe Bureau of Internal Revenue (BIR) today filed a criminal complaint with the Department of Justice against former Supreme Court (SC) Chief Justice RENATO C. CORONA (CORONA) for willful attempt to evade or defeat tax and for deliberate failure to file his Income Tax Returns (ITRs), for taxable years 2003, 2004, 2005, 2007, 2008 and 2010, in violation of Section 254 and Section 255 of the National Internal Revenue Code of 1997, as amended (Tax Code).
Read MoreManila, Philippines, August 24, 2012 – Following the successful investor presentations of the Philippine Government in the United States last June, the country’s economic team led by Finance Secretary Cesar Purisima and Treasurer Roberto Tan visited Singapore on August 21 to 22 and met with banks and investor groups. The Philippine government’s economic team provided an update on the fiscal and macroeconomic situation of the Philippines, as well as on the milestones of the Aquino Administration’s governance reform agenda. Among others, the economic team outlined the recently reported notable economic statistics such as the 11.6 percent year-on-year growth in revenues for the first six months of 2012 amounting to P760.9 billion, the solid foreign exchange reserves at US$79.3 billion as of end-July and the sustained robust inflow of cash remittances by overseas Filipinos which reached US$10.1 billion during the first half of 2012.
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