The Bureau of Internal Revenue (BIR) is set to examine the Value-Added Tax (VAT) returns of Large and NCR taxpayers in its bid to enhance compliance and increase revenue collection with the issuance of two (2) Revenue Memorandum Orders (RMOs).
Read MoreThe Governments of the Republic of the Philippines and Republic of Korea signed on 23 August 2012 a Loan Agreement to support the implementation of the Puerto Princesa Airport Development Project of the Department of Transportation and Communications (DOTC). Finance Secretary Cesar V. Purisima signed the Loan Agreement on behalf of the Philippine Government while Export-Import Bank of Korea (KEXIM) Chairman and President Yong Hwan Kim signed on behalf of the Republic of Korea.
Read MoreThe Philippine Deposit Insurance Corporation (PDIC) called on depositors of the closed Export and Industry Bank (EIB) who have not yet filed their deposit insurance claims to file their claims either by mail or personally. The PDIC disclosed that more than 10,000 account holders of EIB have not yet filed their claims.
Read MoreFinance Ministers from the Asia-Pacific Economic Cooperation-member countries held the 19th Finance Ministers Meeting at the Moscow, Russia last week. The key agenda in the meeting focused on advancing policies to make the financial sector more balanced and inclusive in the Asia-Pacific region, particularly in public finance governance to mitigate immediate global and regional challenges.The results of the meeting will be reviewed next week during the APEC Economic Leader’s Meeting on September 8-9 in Vladivostok, Russia where President Benigno Aquino III and Finance Secretary Cesar Purisima will also be attending.
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