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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.

Philippines and Chinese officials will focus on the first “basket” of infrastructure projects which initially prioritizes eight “cooperation” initiatives involving flagship projects of President Duterte, Finance Secretary Carlos Dominguez III said.

The Asia-Pacific will remain a global growth center with India, China and the Philippines as regional leaders, S&P Global Ratings, in a recent report titled “Major Asia-Pacific Economies Show Stronger Growth; Risks Are Mostly Geopolitical said.

The government has signed the Restatement Agreement for the third Bilateral Swap Agreement (BSA) with Japan’s Minister of Finance through the Bank of Japan (BOJ), the Bangko Sentral ng Pilipinas (BSP) said.

By Riza Lozada The recently released Global Competitiveness Report 2017- 2018 of the World Economic Forum (WEF) indicated that the country has to do more to keep pace with its quickly progressing neighbors, the Makati Business Club (MBC) said.