tag:blogger.com,1999:blog-295078252011-10-10T17:36:50.390+08:00a compendium of the articles that mr. dennis a. gadil write. mr. gadil is a senior reporter and columnist at malaya (a popular philippine morning daily) and a correspondent of several magazines and journals. [nota bene: this blog is administered and maintained by brodkaster43 (brodkaster43@gmail.com)]brodkaster43noreply@blogger.comBlogger5911100tag:blogger.com,1999:blog-29507825.post-49351447552956056412011-10-10T17:33:00.002+08:002011-10-10T17:36:50.450+08:00

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brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-67905025736735770542011-10-04T17:09:00.003+08:002011-10-04T17:18:16.771+08:00

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brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-54521440261586065692010-12-08T17:18:00.001+08:002010-12-08T17:20:08.971+08:00

BY DENNIS GADILGovernment rejected all bids for five-year Treasury bonds at yesterday’s auction for "lack of serious buyers"... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-74865589804360113092010-12-02T08:19:00.001+08:002010-12-02T08:20:53.544+08:00

BY DENNIS GADILState pension fund Government Service Insurance System (GSIS) disbursed P18.78 billion in pension benefits in the first 10 months of the year, up 11.36 percent from P16.87 billion in the same period last year... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-47767412657983768412010-11-30T09:13:00.002+08:002010-11-30T09:16:41.500+08:00

BY DENNIS GADILBudget framers Senate have torpedoed the allocation of P210.579 million in the proposed 2011 budget as reimbursement money for the service development cost incurred by a "bogus" Japanese consortium which had won and later lost the right to develop the government’s Nampeidai property in Tokyo... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-33556334356161350972010-10-28T15:47:00.002+08:002010-10-28T15:49:44.389+08:00

BY DENNIS GADILTobacco maker Japan Tobacco International Philippines, Inc. (JTIP) appears to be open to changes in the "sin" tax law but stressed that any new legislation changing the excise tax rates should be done after 2011... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-78042476366502214382010-08-24T13:08:00.002+08:002010-08-24T13:12:27.706+08:00

BY DENNIS GADILThe government returned to its regular weekly borrowing yesterday after skipping one auction last week with a total of P8 billion of treasury bills (T-bills) sold in the local capital market... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-55000499033402324912010-08-05T08:22:00.001+08:002010-08-05T08:24:24.775+08:00

BY DENNIS GADILThe government has decided to go for the benchmark $500 million in its first ever offering of peso-denominated bonds in the global capital market... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-23965438377901061682010-08-05T08:21:00.001+08:002010-08-05T08:26:13.925+08:00

The Aquino government will issue the first retail treasury bonds (RTBs) under its fiscal watch on August 10 with a minimum size of P25 billion. - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-66257615439357750432010-07-30T07:34:00.002+08:002010-07-30T07:37:25.088+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) is seeking an immediate reversal of the justice department ruling stopping the agency from entering into a product security contract aimed at curbing smuggling of cigarettes so that it could sit down with other proponents... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-88450167830283712122010-07-29T13:52:00.001+08:002010-07-29T13:54:04.167+08:00

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-73694241644063921902010-07-29T09:02:00.002+08:002010-07-29T09:07:25.558+08:00

BY DENNIS GADILThe Aquino government is abandoning its predecessor’s privatization strategy by favoring long-term lease on prime real assets over outright sale, Finance Secretary Cesar Purisima said ... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-37514785007318175762010-07-28T10:15:00.000+08:002010-07-28T10:16:48.320+08:00

BY DENNIS GADILThe Aquino administration is not inclined to seek supplemental funding from Congress despite the depleted funds of the Treasury... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-5929354050577283622010-07-26T08:08:00.001+08:002010-07-26T08:10:12.249+08:00

BY DENNIS GADILExcise taxes collected from "sin" products, fuel and automobiles climbed 9.6 percent to P32.284 billion during the first six months of the year, an increase of P2.838 billion from the P29.446 billion collected in the same period last year, treasury data showed... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-79711061874703639412010-07-26T08:07:00.001+08:002010-07-26T08:08:31.453+08:00

BY DENNIS GADILThe Philippine Amusement and Gaming Corp. (Pagcor) turned over P5.04 billion to the government as part of its share in the gaming agency’s earning during the first six months of the year, treasury data showed... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-34299083372717990582010-07-26T08:03:00.002+08:002010-07-26T08:06:08.577+08:00

The Toll Regulatory Board (TRB) is also demanding payment from state-owned Philippine National Construction Corp. (PNCC) of the agency’s unpaid concession fees amounting to P3.943 billion. - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-4899596994231166212010-07-23T17:51:00.001+08:002010-07-23T17:53:26.168+08:00

BY DENNIS GADILFinance Secretary Cesar Purisima yesterday said the Aquino administration will not be overspending in the second half after the Arroyo administration went P45.1 billion over budget during the first semester... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-34738976814800303362010-07-23T17:49:00.003+08:002010-07-23T17:55:40.190+08:00

BY DENNIS GADILThe Department of Finance (DOF) yesterday ordered state-owned Philippine National Construction Corp. (PNCC) to immediately remit to the national treasury all its toll fee collections since May 1, 2007 after its franchise expired on April 30, 2007... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-49437019555721905372010-07-22T09:32:00.000+08:002010-07-22T09:34:53.115+08:00

BY DENNIS GADILThe government breached its budget deficit cap for the first six months with a shortfall of P196.7 billion, P51.6 billion in excess of the original goal of P145.2 billion... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-13237163331170525132010-07-22T09:30:00.001+08:002010-07-22T09:32:33.635+08:00

BY DENNIS GADILTobacco maker Philip Morris will offer government a much cheaper technology using a numeric bar-code system to help curb smuggling... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-44860656507106366142010-07-21T16:00:00.001+08:002010-07-21T16:01:58.189+08:00

The government may float its first ever peso global bonds with a minimum tenor of five years and with a peso-link feature where the settlement will be in dollars to make it more attractive to foreign investors... - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-5333323183365466632010-07-19T14:52:00.001+08:002010-07-19T14:54:15.302+08:00

By DENNIS GADILThe Home Development Mutual Fund (HDMF), popularly known as Pag-IBIG Fund, plans to pursue its yearly borrowing program by selling at least P3 billion in retail bonds (RTBs) next year to provide supply for overseas Filipino workers (OFWs) looking for long-term investment... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-66143372368611901992010-07-13T09:10:00.001+08:002010-07-13T09:11:42.389+08:00

BY DENNIS GADILCredit rating firm Fitch Ratings sees the country’s budget deficit sliding further to 4 percent of the gross domestic product (GDP), with the nominal value expanding more than the revised target of P325 billion... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-52181385343556875972010-07-13T09:07:00.001+08:002010-07-13T09:09:36.519+08:00

State pension fund Social Security System (SSS) has collected a total of P212.88 million from the amnesty program that it rolled out for delinquent members and their employers... - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-64274722945940099492010-07-13T09:05:00.001+08:002010-07-13T09:07:17.044+08:00

The benchmark 91-day treasury bills (T-bills) climbed 2.9 basis points in Monday’s auction to 3.956 percent from the 3.927 percent fetched during the previous auction... - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-87059045983857570902010-07-12T16:39:00.002+08:002010-07-12T16:41:31.947+08:00

BY DENNIS GADILThe government is finally dumping Swiss security firm SICPA for a cheaper technology contractor such as Philip Morris in its bid to curb smuggling of cigarettes and alcohol... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-87220798378518316602010-07-12T16:37:00.001+08:002010-07-12T16:39:26.114+08:00

BY DENNIS GADILThe government will just have to borrow more to cover the increase in the programmed deficit for 2010 to P325 billion from P300 billion... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-24306088046431918042010-07-12T16:35:00.001+08:002010-07-12T16:37:21.001+08:00

BY DENNIS GADILThe government’s debt stock slightly dropped in April 2010 to P4.436 trillion or 0.5 percent lower than the P4.458 trillion national debt registered last March as the peso flexed its muscle to temper dollar payments, the national treasury reported at the weekend... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-88297845723796443862010-07-03T11:05:00.001+08:002010-07-03T11:06:57.451+08:00

BY DENNIS GADILThe newly-installed revenue chief is kicking out the presidential assistant on revenue enhancement (PARE) from the Large Taxpayers Service (LTS) unit of the Bureau of Internal Revenue (BIR)... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-34175050741860318722010-07-03T11:02:00.001+08:002010-07-03T11:04:39.450+08:00

Finance Secretary Cesar Purisima will seek guidance from President Aquino on whether the privatization of three big-ticket items will be pursued. - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-88981638258670627492010-07-03T10:59:00.001+08:002010-07-03T11:00:56.362+08:00

BY DENNIS GADIL, REGINA BENGCOThe economic team of President Aquino will review the targets set by the previous administration and possibly change the latest tweaking made by the Development Budget Coordinating Committee (DBCC)... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-72856198298515798892010-06-22T09:53:00.003+08:002010-06-22T10:02:37.063+08:00

The government is likely to breach its programmed deficit of P145.1 billion for the first semester. - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-89263858434357116032010-06-21T08:17:00.002+08:002010-06-21T08:19:40.877+08:00

BY DENNIS GADILThe voided PEA-Amari contract of the Ramos administration is undergoing a legal remodeling with the entry of the Paranaque local government as "front" for the state reclamation agency to pursue development of Freedom Islands under a new joint venture deal with Thailand-based developer Ital-Thai... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-2168754174785175472010-06-21T08:13:00.002+08:002010-06-21T08:16:37.483+08:00

The government has set a wider deficit in the third and fourth quarters to reflect the adjusted full year programmed deficit target of P300 billion from the previous ceiling of P293 billion. - Dennis Gadil (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-44793724446677877412010-06-21T08:10:00.001+08:002010-06-21T08:11:59.755+08:00

BY DENNIS GADILThe finance department might seek a reversal of a justice department opinion rejecting the unsolicited stamp tax proposal of SICPA for failing to meet government criteria and for infringing on the revenue raising power of Congress... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-63805530770981764792010-06-17T08:21:00.000+08:002010-06-17T08:23:05.072+08:00

BY DENNIS GADILThe outgoing administration has increased the collection targets of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) for this year by P35 billion, virtually raising the bar on the revenue efforts of the incoming administration... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-60808732586809916372010-06-09T08:42:00.004+08:002010-06-09T08:45:46.799+08:00

BY DENNIS GADILOfficials are no longer confident that Home Guaranty Corp. (HGC) could push a planned P5.5 billion bond float before President Arroyo steps down on June 30... (more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-56405221707242484932010-05-27T18:26:00.002+08:002010-06-09T08:42:05.330+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) collected P43.3 billion in the first 25 days of May, P7.6 billion above its tax take of P35.7 billion in the same period last year but still far from meeting its full month target of P79.9 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-902457858931582922010-05-18T08:30:00.001+08:002010-05-18T08:32:50.572+08:00

BY DENNIS GADILThe government may embark on another sale of retail treasury bonds (RTBs) in the second half of the year to siphon off liquidity or offer new supply to the market to replace maturing long-term debt papers...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-74296233486363251912010-05-14T18:47:00.001+08:002010-05-14T18:50:38.228+08:00

BY DENNIS GADILThe government reported lower corporate income tax payments for 2009, especially among large taxpayers, based on a consolidated report after the April 15 tax filing deadline...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-9280186751939305922010-04-23T09:46:00.001+08:002010-04-23T09:48:12.518+08:00

BY DENNIS GADILThe government may be tempted to float another multicurrency retail treasury bonds (RTBs) for overseas Filipino workers (OFWs) in the fourth quarter after this week’s successful sale of the first-ever dollar-euro bonds in the local debt market...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-1589596835566247742010-04-22T08:18:00.002+08:002010-04-23T09:46:05.949+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) is expecting another surplus month this April after hauling in P57.5 billion in the first 19 days, 58 percent better than the P36.4 billion it collected in the same period last year...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-87035894512087734862010-04-22T08:16:00.000+08:002010-04-22T08:17:49.473+08:00

The chief House prober of the controversial government-SICPA stamp tax proposed deal yesterday said the Swiss firm has no one but itself to blame for the long and slow contract negotiations...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-38077876641214757482010-04-20T09:27:00.002+08:002010-04-20T09:29:53.044+08:00

BY DENNIS GADILAn umbrella group for tobacco players yesterday challenged SICPA Product Security SA to forge a "no cure-no pay" agreement with the Bureau of Internal Revenue (BIR) to back up its boast of increased revenues from its unsolicited stamp tax technology...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-30245238170290634872010-04-20T09:24:00.002+08:002010-04-20T09:27:08.643+08:00

BY DENNIS GADILAfter almost a year of delay, the government is finally launching its OFW bonds tomorrow, selling multicurrency retail treasury bonds (RTBs) with tenors of three and five years worth $500 million, with an upsize option to $1 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-36345810764560472892010-04-19T12:21:00.000+08:002010-04-19T12:22:25.904+08:00

BY DENNIS GADILSwiss firm SICPA Product Security SA, finding its negotiations with the government over its stamp tax technology "too taxing," is thinking of dropping the project...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-19143043671466797872010-04-19T12:19:00.000+08:002010-04-19T12:20:38.295+08:00

BY DENNIS GADILThe chief government tax man has taken up the cudgels for ordinary taxpayer by recommending a "no touch" policy on the existing 12 value added tax (VAT), which some economic quarters wanted to be raised to 15 percent...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-9427600000139954832010-04-15T08:02:00.001+08:002010-04-15T08:04:22.039+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) collected P172.3 billion during the first quarter, exceeding by 9.3 percent its target of P157.7 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-87120386906918521142010-04-15T08:00:00.001+08:002010-04-15T08:05:20.000+08:00

The Bureau of Internal Revenue (BIR) will start garnishing the motor vehicles of Makati City Hall next week after failing to get a "better" deal from local city officials...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-56774842557689350432010-04-14T10:47:00.001+08:002010-04-14T10:48:30.114+08:00

The government sold P3.362 billion of 10-year treasury bonds during yesterday’s auction, fetching an average rate of 7.831 percent, up 0.1 percentage point from the previous 7.83 percent...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-31009977611759515672010-04-14T10:45:00.001+08:002010-04-14T10:46:28.306+08:00

BY DENNIS GADILState-owned Power Sector Assets and Liabilities Management Corp. (PSALM) yesterday raised another P10 billion in retail treasury bonds (RTBs) from individual investors, completing its bond proceeds goal of P30 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-22417917295032805222010-04-08T09:32:00.001+08:002010-04-08T09:34:45.192+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) has formed a tax force that would run after big conglomerates which are suspected of dodging tax obligations through complex financial transactions among daughter corporations...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-2039242921190697602010-04-07T10:15:00.000+08:002010-04-07T10:17:37.556+08:00

BY DENNIS GADILGovernment-owned Home Guaranty Corp. (HGC) will use bulk of the proceeds from its planned P5.5 billion bond offering to settle its remaining obligations with state pension fund Social Security System (SSS) amounting to P3 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-13781769080546496022010-04-06T11:29:00.002+08:002010-04-06T11:33:14.438+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) has exceeded its March collection goal by P1.4 billion to P54.8 billion from its original target of P53.4 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-52596200464346882822010-04-06T11:22:00.003+08:002010-04-06T11:29:17.703+08:00

BY DENNIS GADILYields for the three short-dated debt papers fell across the board during Monday’s auction with the benchmark 91-day Treasury bills (T-bills) shedding 2.5 basis points to 3.875 percent from 3.900 percent fetched during previous auction...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-15476681570560491172010-04-06T11:19:00.002+08:002010-04-06T11:21:27.981+08:00

The Bureau of the Treasury (BTR) is open to tweaking the 20 percent quota for overseas workers (OFWs) in its planned OFW bond float later this month to unleash more supply to the OFW sector as against institutional investors or banks...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-33030918220449340302010-03-29T14:23:00.001+08:002010-03-29T14:26:59.750+08:00

BY DENNIS GADILThe government is putting a brake on its borrowing binge in the second quarter as it plans to float P107 billion of debt papers, a decline of 2.72 percent from its first quarter borrowings of P110.5 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-86022852189503769512010-03-29T14:20:00.002+08:002010-03-29T14:23:24.214+08:00

BY DENNIS GADILFilipino consumers are more upbeat about the economy in the first quarter of the year, compared to the last quarter of 2009, a confidence seen spilling over the rest of the year, the Bangko Sentral ng Pilipinas (BSP) reported yesterday...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-78266117652351174802010-03-25T08:01:00.000+08:002010-03-25T08:02:29.594+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) is confident of getting a favorable opinion from the Department of Justice (DOJ) on the legal basis to continue negotiations with Swiss product security firm SICPA Product Security S.A. over its unsolicited stamp-tax proposal...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-86433828422987453522010-03-25T07:58:00.001+08:002010-03-25T08:01:03.377+08:00

BY DENNIS GADILThe government is wooing property giant Ayala Land Inc. (ALI) to return to the negotiating table with a lower price for the development of the sprawling Food Terminal Inc. (FTI) Complex in Taguig City...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-34616528429872708772010-03-24T12:49:00.000+08:002010-03-24T12:51:10.833+08:00

BY DENNIS GADILThe incoming administration will be in no position to balance the budget in 2013 as promised by the Arroyo administration because of higher payments on debt principal and interest payments, a regional bank said...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-19979716681426841632010-03-23T10:50:00.001+08:002010-03-23T10:52:40.854+08:00

BY DENNIS GADILThe government has backpedaled on its pronouncement that that there will not be a second stimulus package, with Finance Secretary Margarito announcing yesterday a P100 billion pump-priming plan for 2010...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-26192014843486190462010-03-23T10:44:00.000+08:002010-03-23T10:50:47.284+08:00

BY DENNIS GADILThe average rate for the benchmark 91-day Treasury bills (T-bills) went up 3.7 basis points during yesterday’s Monday’s auction, finding its traction at 3.9 percent compared to the previous 3.863 percent...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-51973685573615120342010-03-20T23:12:00.002+08:002010-03-20T23:15:01.765+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) has so far collected more than P100 million from the 5 percent withholding tax slapped on the campaign spending of candidates in the May 10 election...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-32697404442110718632010-03-20T23:10:00.000+08:002010-03-20T23:12:20.115+08:00

BY DENNIS GADILThe government panel drafting the implementing rules and regulations (IRR) on the Expanded Senior Citizens Law has adopted the proposal to transfer the distribution of senior ID cards from local government units (LGUs) to the Bureau of Internal Revenue (BIR)...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-91037249044115178562010-03-16T07:59:00.001+08:002010-03-16T08:01:26.004+08:00

The Social Security System (SSS) hopes to collect P3.9 billion from delinquent employers under its latest condonation program...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-66461412690703422022010-03-15T09:10:00.000+08:002010-03-15T09:12:03.539+08:00

BY DENNIS GADILThe Department of Finance is proposing to transfer the issuance of senior citizens card from local government units to the BIR to plug the leakage that could cause up to P3.2 billion a year in lost revenues once the expanded senior citizens law is implemented...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-70318052977888937192010-03-11T09:16:00.000+08:002010-03-11T09:18:01.324+08:00

BY DENNIS GADILPresident Arroyo has created an independent committee, to be headed by a retired member of the judiciary, to review the handling of big smuggling and tax evasion cases by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC)...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-56663986746391421812010-03-11T09:13:00.002+08:002010-03-11T09:16:20.371+08:00

BY DENNIS GADILThe Department of Finance (DOF) will propose that the results of its review of the value-added tax (VAT) be part of the priority legislative agenda of the new government...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-5374892854970786412010-03-10T07:59:00.000+08:002010-03-10T08:01:04.124+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) is confident of closing the first quarter with surplus revenues after posting a collection of P112.6 billion from January to February, P44.7 billion short of its three-month goal of P157.3 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-72306775906518442282010-03-10T07:57:00.001+08:002010-03-10T07:59:19.260+08:00

BY DENNIS GADILHome Development Mutual Fund or Pag-IBIG Fund successfully sold yesterday P11.963 billion in five-year bonds to pay off maturing obligations and expand its housing loan portfolio...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-59180445278707984842010-03-09T09:28:00.001+08:002010-03-09T09:30:36.919+08:00

BY DENNIS GADILA New York-based economic think tank said the new administration must improve tax effort by two percentage points this year to avoid breaching the Arroyo government-pegged deficit target of P293 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-12817145706988567892010-03-09T09:26:00.001+08:002010-03-09T09:28:24.337+08:00

The rates for treasury bills (T-bills) went down across the board during yesterday’s auction as investors continue to infuse liquidity into the market...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-59842648758037745282010-03-08T10:38:00.000+08:002010-03-08T10:40:49.194+08:00

By Dennis GadilThe government has suspended negotiations with stamp-tax contractor SICPA Product Security S.A. in deference to a recommendation of the House ways and means committee for the Bureau of Internal Revenue (BIR) to cease entertaining the unsolicited proposal of the Swiss firm...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-19814733887357259462010-03-08T10:36:00.001+08:002010-03-08T10:38:12.327+08:00

BY DENNIS GADILThe government is looking for Filipino and Japanese property developers who can partner for the lease and development of the Fujimi property in Tokyo after the negotiated sale for the prime real estate collapsed...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-66175276472864439022010-03-08T10:34:00.001+08:002010-03-08T10:35:46.274+08:00

The government expects a lower deficit than the programmed P110 billion in the first quarter of 2010 due to strong collections posted by its two top revenue agencies...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-17331576217442277412010-03-05T14:59:00.001+08:002010-03-05T15:01:12.668+08:00

BY DENNIS GADILThe National Food Authority (NFA) may get an unexpected shot in the arm this year as government is considering a higher subsidy in the face of falling agricultural production due to El Nino...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-12057395619636414662010-03-05T14:55:00.003+08:002010-03-05T14:58:27.792+08:00

The government has scrapped its planned stimulus package for this year, hoping that spending for the rehabilitation of typhoon-damaged infrastructure would be enough to spur economic growth. - Dennis Gadil ...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-9357676612641606002010-03-04T07:50:00.001+08:002010-03-04T07:51:54.026+08:00

BY DENNIS GADILThe government will first sell the 10 percent participating interest of PNOC Exploration Corp. (PNOC-EC) in the Malampaya natural gas production project before selling 60 percent of its 99.7 percent holdings in the company...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-31894452870384834282010-03-04T07:47:00.003+08:002010-03-04T07:50:10.949+08:00

BY DENNIS GADILGovernment is seen topping its February revenue target after the Bureau of Internal Revenue (BIR) collected P44.9 billion in operations income against a P41.435 billion goal...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-67302968546046535752010-03-04T07:45:00.000+08:002010-03-04T07:47:09.342+08:00

BY DENNIS GADILThe government wants to be done with its latest planned offering of bonds for overseas Filipino workers (OFWs) before the May elections to avoid political-related hitches...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-66794634619996727602010-03-04T07:43:00.003+08:002010-03-04T07:45:00.637+08:00

The Department of Finance (DOF) hopes to improve tax effort this year to 13.8 percent from last year’s 12.8 percent...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-3501141281630751612010-03-02T08:53:00.001+08:002010-03-02T08:55:50.002+08:00

BY DENNIS GADILParcels of land with a total value of P172.34 million have been added to the privatization basket of the government as it intensifies disposal of assets ahead of election day to plug a programmed deficit of P293 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-11020802125489988502010-03-02T08:50:00.002+08:002010-03-02T08:53:23.113+08:00

Government’s non-tax revenues got a boost from income from gaming and airport operations in 2009, with the Philippine Amusement and Gaming Corp. contributing P11 billion against P10.97 billion in 2008...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-66224861846336140192010-03-01T08:55:00.001+08:002010-03-01T08:59:13.390+08:00

BY DENNIS GADILThe Department of Finance (DOF) has rejected the latest offer of the Government Service Insurance System (GSIS) to acquire the Food Terminal Inc (FTI) property for P7 billion, way below its original asking price of P13 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-84912700145341472812010-03-01T08:53:00.001+08:002010-03-01T08:55:04.632+08:00

The government’s tax effort fell by 1.3 percentage points to 12.8 percent in 2009 from 14.1 percent in 2008, signaling continued leakages in tax administration, department of finance (DOF) data showed...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-80127349088851426062010-02-24T07:44:00.001+08:002010-02-24T07:45:24.533+08:00

BY DENNIS GADILThe government yesterday went for the limit, selling 100 billion yen ($1.1 billion) worth of Samurai bonds during a pricing session in Tokyo...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-17335214598336416672010-02-23T07:54:00.001+08:002010-02-23T07:55:28.646+08:00

BY DENNIS GADILThe Bureau of Internal Revenue (BIR) is seeking the opinion of the Department of Justice (DOJ) on the cases filed by tobacco farmers against revenue officials who are directly negotiating a contract with Swiss firm SICPA Product Security for its stamp-tax proposal...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-67055295108048384182010-02-23T07:51:00.001+08:002010-02-23T07:53:20.682+08:00

BY DENNIS GADILIt’s back to square one...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-47659959367187095172010-02-22T10:54:00.002+08:002010-02-22T10:57:44.080+08:00

By Dennis GadilProperty giant Ayala Land Inc. (ALI) has backed out from the race to acquire and develop the sprawling Food Terminal Inc. (FTI) complex in Taguig City despite fresh signals from government that it was willing to slash its asking price of P13 billion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-72831091212019868532010-02-19T09:03:00.002+08:002010-02-19T09:05:49.970+08:00

BY DENNIS GADILFinance secretary Margarito Teves and BIR Commissioner Joel Tan Tan Torres yesterday said they have not signed any document endorsing the unsolicited proposal of Swiss firm SICPA Product Security S.A. for its stamp-tax technology project that aims to curb cigarette and alcohol smuggling...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-6580749654573280922010-02-19T09:00:00.002+08:002010-02-19T09:03:40.358+08:00

Finance secretary Margarito Teves yesterday expressed strong doubts that the new administration can escape the sweltering heat of a ballooning deficit without having to resort to raising taxes...(more) - Dennis Gadil

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-58338264552850758052010-02-18T07:45:00.002+08:002010-02-19T09:00:18.446+08:00

BY DENNIS GADILWhile the economy is poised for a recovery this year, the budget deficit is likely to rise to P325 billion or almost equivalent to 4 percent of the gross national product, a British investment bank said in its latest report...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-79726924671739815182010-02-18T07:43:00.000+08:002010-02-18T07:45:09.695+08:00

BY DENNIS GADILThe government and the Japan Bank for International Cooperation (JBIC) on Tuesday signed a guarantee cover for the bond float in the Japanese market scheduled to start next week...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-67282586674694337642010-02-17T07:39:00.000+08:002010-02-17T07:41:31.259+08:00

BY DENNIS GADILThe government is lacing its planned offering of retail treasury bonds (RTBs) to overseas workers with a slew of tax incentives to make the issuance more attractive...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-17982155969174236722010-02-16T07:38:00.001+08:002010-02-16T07:39:54.907+08:00

BY DENNIS GADILThe Department of Agriculture (DA) is the hands down "top performer" in wasteful fund management either through bungled project implementation or missing and diverted funds...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-9332599922713845862010-02-16T07:37:00.001+08:002010-02-16T07:38:36.055+08:00

BY DENNIS GADILThe national government debt stock inched up by P1 billion in November last year to P4.425 trillion from October’s P4.424 trillion, the Bureau of the Treasury (BTr) reported yesterday...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-47768384357708507952010-02-12T13:05:00.003+08:002010-02-12T13:10:25.039+08:00

BY DENNIS GADILThe Department of Finance (DOF) is blocking the signing into law of the measure expanding tax cuts for senior citizens, primarily their exemption from the 12 percent value-added tax (VAT)...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-78998664060670082552010-02-11T10:23:00.001+08:002010-02-11T10:25:49.291+08:00

BY DENNIS GADILDespite expectations of an economic recovery this year, the government has allowed its top revenue agencies to reduce their combined full-year revenue targets from P1.335 trillion to P1.284 trillion...(more)

brodkaster43noreply@blogger.com0tag:blogger.com,1999:blog-29507825.post-38353133919307150912010-02-10T12:35:00.001+08:002010-02-10T12:38:14.584+08:00

BY DENNIS GADILTax men will monitor obituaries more closely to raise collection of estate tax as part of the Bureau of Internal Revenue’s "Rest in Peace" Project...(more)

brodkaster43noreply@blogger.com0