The Department of Finance (DOF) has secured a total of US$4.55 billion in newly contracted foreign loans from multilateral lenders and the commercial markets as of mid-May this year to boost the government’s ongoing efforts to suppress the coronavirus disease 2019 (COVID-19) pandemic and provide relief to the most affected sectors.
Read MoreThe head of the largest umbrella group of business organizations representing some 30,000 large and micro, small and medium enterprises (MSMEs) across the country has sought the immediate congressional passage of the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), to give the Philippines a “fighting chance” in attracting more foreign direct investments (FDIs) under the “new normal.”
Read MoreA formidable group of 32 local and foreign business organizations have called on the Congress to act “quickly and decisively” in restoring market confidence and providing the “most direct, cost-efficient and instant relief” to enterprises suffering from the coronavirus pandemic’s economic fallout by passing the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) before its sine die adjournment next week.
Read MoreFinance Secretary Carlos Dominguez III has sought the support of the business community in helping the economic team convince the Congress to pass in its last session week prior to its sine die adjournment a long-due corporate tax reform measure that will usher in the country’s biggest stimulus program for enterprises and send the strongest signal that the Philippines is “back in the game” amid the coronavirus pandemic.
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