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For those interested in learning more about the Philippine business environment and economic profile, our blog area contains articles on finance, foreign investments, industry updates, entrepreneurship, and other business subjects.
For local and international businesses that wishing to set up operations in the Philippines, our articles give vital insights on best practices in conducting business in the Philippines.
This section aims to keep you informed and up to date with the latest of developments in the business landscape so that you can better prepare and stay ahead in your business endeavors.
The latest of BIR-related articles and headlines that are of significance to the business world are presented at your convinience and regularly updated.
This section provides insights and analysis on the economy, industry performance and regulation, business deals, corporate earnings, and economic markets.
06 January, 2025
The Bangko Sentral ng Pilipinas (BSP) is now ready to welcome more nonbank electronic money issuers in a bid to promote digital payments and deliver financial services to more Filipinos in the archipelago.
In a new memorandum dated Dec. 5, 2024, the BSP approved the lifting of a moratorium on the application for new e-money issuers among nonbank financial institutions effective Dec. 16.
24 December, 2024
MANILA, Philippines – Revenue goals of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) will be hiked by double-digit in 2025, eyed to be achieved through increased collection efficiency and passage of several tax measures.
“Double digit [increase in revenue target] both next year. BIR and BOC [targets] will be challenging kasi (because) the growth rate, average (revenue) growth of the BOC is about 5 to 6 percent,” Finance Secretary Ralph Recto told reporters in a recent press chat.
07 January, 2025
In a groundbreaking collaboration, Cebuana Lhuillier has partnered with Security Bank to transform payment ecosystems across the Philippines. This strategic alliance positions Cebuana Lhuillier as a vital enabler, helping Security Bank expand its reach to individuals, small and medium enterprises (SMEs), corporations, and new customer segments in underserved and last-mile areas.
Be updated with the latest international news and world events from Asia, Europe, the Middle East, and more overseas
This section will provide accurate and consistent information on policies and recommendations on issues concerning the securities market for it will garner confidence and assurance for people to continue doing business with no worries.
13 November, 2023
The Department of Environment and Natural Resources (DENR) has reiterated its call for businesses to comply with the Extended Producer Responsibility (EPR) Act and register their initiatives on plastic waste management. “Since EPR programs might be relatively new to many companies, we expect that more enterprises will submit their programs once they better understand how to operationalize modes of implementation into their businesses,” Environment Undersecretary Jonas Leones said in a statement on Sunday.
13 November, 2023
House Committee on Ways and Means Chairperson Joey Salceda on Monday cautioned the Bureau of Internal Revenue (BIR) against its plan to impose a 1% withholding tax on online sellers as the policy did not stand on solid ground without legislation and comprehensive consultation.
“It would be better if they wait for the law to be passed. Because before you collect taxes from the people, you need to listen to them first. They will do it (1%) through Executive Order or RMC (Revenue Memorandum Circular), but there is already a bill that passed the crucible of public opinion in the House when it comes to taxing digital services, and that is pending in the Senate,” Salceda said.
09 October, 2023
State auditors ruled that the Department of Energy (DOE) and Bureau of Internal Revenue (BIR) should seek adjudication over the P18.4-billion excise tax assessment on the removal and export of condensates generated by the Malampaya project operations from 2005 to 2018.
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