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By Luis Leoncio The Philippines has started its economic breakout, turning it into one of Asia’s engines of growth despite the political noise and the recent terrorist attack in Marawi City, Finance Secretary Carlos Dominguez III told the American business community in a visit to New York City last week.

By Riza Lozada The Philippines will remain a leader in economic growth this year in the Association of Southeast Asian Nations (Asean) region with an estimated gross domestic product (GDP) expansion of 6.6 percent against 5.2 percent in Indonesia; 5.4 percent in Malaysia; 3.7 percent in Thailand, and 6.3 percent in Vietnam, the International Monetary Fund (IMF) said.

The country was cited for its support system for overseas workers as the World Bank said other Association of Southeast Asian Nations (Asean) members can learn from the country’s experience as it called on easing restrictions on labor migration to boost workers’ welfare and accelerate regional economic integration.

By Riza Lozada The Joint Foreign Chambers of the Philippines (JFC) is seeking a status quo on the exemption of locators in Philippine Economic Zone Authority (PEZA) from the 12-percent value added tax (VAT).

The contribution of small and medium enterprises (SMEs) to total world employment has stagnated hurting the global goal to eradicate poverty, the recently released International Labor Organization (ILO) flagship report World Employment and Social Outlook showed.

The Department of Finance (DoF) estimates that government revenues will increase almost P40 billion from excise tax on tobacco products starting in 2018, following the move by Mighty Corp, to settle its tax liabilities and sell its assets to Japan Tobacco Inc. (JTI).

LANDBANK account holders can now pay their taxes through the LANDBANK LinkBiz Portal, an alternative payment channel that allows taxpayers to pay their taxes via the internet.

By Riza Lozada The government is currently reviewing its Foreign Investment Negative List (FINL) as a way of increasing business projects that would be allowed full foreign participation or ownership prior to an eventual plan to amend the Constitution, Finance Secretary Carlos Dominguez III said during the economic officials’ mission to China.

The Philippines has the best availability of skilled and competitively priced labor and ease of recruiting labor in the Association of Southeast Asian Nations (Asean) region, according to a recent survey of European businesses in Southeast Asia.

By Luis Leoncio The economy sustaining its strong growth path of above six percent would result in the poverty rate to decline to 22.9 percent in 2018, the World Bank (WB) said in its October 2017 edition of the East Asia and Pacific Economic Update.