Business

A tax on digital transactions is seriously being considered following a legislative proposal for government to work on it.

To attract investors under the new normal, the Finance Department is studying to “tailor-fit” tax and non-tax incentives, according to Finance Secretary Carlos Dominguez III.

Government losses could reach P667 billion between 2020 and 2027 due to the reduction in corporate income tax (CIT), according to the Department of Finance (DoF).

US department store chain JCPenney, which has not turned a profit since 2011 became the latest American retailer to be pushed into bankruptcy by the COVID-19 pandemic.

Global airlines, after incurring unprecedented losses and possible bankruptcy due to the COVID-19 pandemic, are bound to face a tough time convincing people air travel is safe when commercial flight operations resume under new normal protocols.

In post-COVID-19 lockdown scenario, half of Philippine restaurants might close shop, work-from-home (WFH) arrangements may not be suitable for many businesses and a number of upper-middle residential condominium could suffer reduction in value, according to property consultant David Leechiu.

Small business or those under the category of micro, small and medium enterprises (MSME) will have to adapt to overcome the grave economic effects of the COVID-19 pandemic.

The global response to the current COVID-19 pandemic have led to a decline in the global economy, with the majority of businesses, big or small, that run through physical stores being the most affected.

The gross domestic product (GDP) dipped 0.2 percent in the first quarter as the economy shrank after more than two decades due to the COVID-19 pandemic.

The country’s economic managers are deliberating a P80-billion to P100-billion stimulus package for micro and small businesses to help them cope with the disastrous economic effects of the COVID-19 pandemic, according to Department of Trade and Industry Secretary Ramon Lopez.