Small businesses warming up to crowdfunding, says SEC [Inquirer Mobile, February 20, 2023]
Crowdfunding companies are not required to register the securities as long as investments are solicited through accredited third parties, the SEC said.
Facebook-owner Meta to roll out paid subscription [ABS-CBN News, February 20, 2023]
SAN FRANCISCO, United States - Facebook and Instagram owner Meta will launch a paid subscription service starting at $11.99 a month allowing users to verify their accounts, CEO Mark Zuckerberg announced Sunday, following a similar move by Elon Musk at Twitter.
Sun Life looks to increase jobs with Vis-Min expansion [Inquirer Mobile, February 20, 2023]
Sun Life, the oldest life insurance company in the country, said the expansion would involve opening new offices in key provincial cities in three to five years.
LRTA finalizing LRT-2 Cogeo extension [The Philippine Star, February 20, 2023]
The Light Rail Transit Authority (LRTA) is finalizing details for the planned extension of the Light Rail Transit Line 2 (LRT-2) that would make it reach the upper section of Antipolo.
Nickel Asia exploring Davao mining deal [Inquirer Mobile, February 20, 2023]
In a disclosure on Friday, Nickel Asia said Hallmark Mining Corp. and Austral-Asia Link Mining Corp. accepted its letter of intent for the listed firm or its subsidiary to be the sole and exclusive mining service contractor for Hallmark and Austral-Asia’s mineral production sharing agreements (MPSA).
SC nullifies 3 BIR, SEC circulars, regulations [Manila Bulletin, February 19, 2023]
The Supreme Court (SC) has nullified three circulars and regulations issued in 2014 by the Bureau of Internal Revenue (BIR) and the Securities and Exchange Commission (SEC) which required businesses dealing with the Philippine Stock Exchange (PSE) and the banks to disclose the names, addresses, tax identification number (TIN) and the amount of income and withholding taxes of their investors.
Pampanga town first in PH to ban steel plant polluting equipment [Philippine Daily Inquirer, February 19, 2023]
The San Simon municipal government in Pampanga province has banned the use of induction furnaces (IF) in the smelting of metal scraps in the town following reports of respiratory illnesses among residents and easily rusting roofs in at least five villages near these steel plants.
Gatchalian wants to make it easier for heirs to pay estate taxes [Manila Bulletin, February 18, 2023]
This is one of the provisions of Senate Bill (SB) No.1346, or the Ease of Paying Tax Act, which introduces reforms by amending certain provisions of the National Internal Revenue Code of 1997.
New tourist pit stop to rise in Palawan: DOT [Philippine News Agency, February 18, 2023]
The TRA, a flagship project of the DOT, is a convergence point that could be approached by foreign and local travelers to get information on tourism sites and attractions, activities, and accommodations; report concerns related to safety and security; and gain access to other provisions necessary during their stay at a destination, such as a clean restroom.
DTI wants Mitsubishi PH to build Xpander here [Autoindustriya.com, February 17, 2023]
Currently, the Xpander units being sold in the country are made in Indonesia, but the Department of Trade and Industry (DTI) is enticing Mitsubishi Motors Corporation to produce it here. However, that possibility, according to DTI Special Trade Representative Dita Angara-Mathay, will depend on a certain matter – the CARS program.
Gov't urged to support maritime sector, reduce hiring fees: stakeholder [ABS-CBN News, February 17, 2023]
Hiring Filipino seafarers has become more expensive, said WMOC President and CEO Rachelle Lopez said, who also organized the recent Expo Maritime Philippines 2023.
Exclusive: Crypto giant Binance moved $400 million from U.S. partner to firm managed by CEO Zhao [Reuters, February 17, 2023]
Binance moved large sums from U.S. partner to trading firm Merit Peak - bank records
STI first half profits surge almost 300% [Inquirer Mobile, February 17, 2023]
Tycoon Eusebio Tanco’s STI Education Systems Holdings, one of the country’s biggest private school chains, saw profits surge nearly 300 percent in the first half 2022 as student enrollments bounced back in the postpandemic period.
NBI issues new subpoena! Lucky Manzano, BFF Ildefonso Medel not allowed to sell Flex Fuel stocks – SEC [Bilyonaryo, February 16, 2023]
Flex Fuel Petroleum Corp. violated securities rules when it solicited investments from the public without the necessary license, according to a document obtained by Bilyonaryo.com.
LinkedIn: Top 10 In-Demand Skills In 2023 [Search Engine Journal, February 16, 2023]
The report is based on data gathered from LinkedIn job postings and member activity, providing a unique and valuable perspective on the job market’s current and future needs.
GCash OKd for use in Japan, Australia and Italy [Inquirer Mobile, February 16, 2023]
In a statement on Thursday, the fintech company said the regulator approved the beta launch of GCash Overseas, allowing users in the mentioned countries to sign up for the app using international SIM (subscriber identity module) cards.
Cebu airport named Asia's best in 'under 5M passengers category' [CNN Philippines, February 16, 2023]
Singapore's Changi Airport was the overall winner, clinching the award in the "Over 10 Million Passengers" category in the first Routes Asia Awarding event after a three year hiatus due to the pandemic.
Makati LGU shuts down famous oyster resto amid food poisoning allegations [Manila Bulletin, February 16, 2023]
“Inspectors from the city’s Business Permits and Licensing Office (BPLO) served a closure order against Wantusawa Oyster Bar/Twin Flames Corp. last February 13, 2023, at 5811 Jacobo St., Poblacion, for violating the Sanitation Code of the Philippines,” the city government said.
Easing of Japan tariffs on PH fruits pushed [Inquirer Mobile, February 16, 2023]
The Philippines is planning to negotiate with Japan to get rid of seasonal tariffs on banana and pineapple exports during the next round of talks under the more-than-a-decade-old free trade agreement with the East Asian country.
BCDA, Japan’s Nedo to collaborate on high-tech Clark transport system [Philippine Daily Inquirer, February 16, 2023]
The Bases Conversion and Development Authority (BCDA) on Wednesday said it had signed a memorandum of understanding (MOU) with Japan’s New Energy and Industrial Technology Development Organization (Nedo) for a three-year demonstration project on smart mobility solutions to be implemented in New Clark City.
Owner of controversial Cebu bar faces anti-dummy complaints [Rappler, February 15, 2023]
NBI accuses the owner of Cebu City's F Cafe & Bar of violating the Anti-Dummy Law. It is the same bar where an international chef was mauled on Christmas Eve.
Vintage vehicle law takes effect in April 2023: Daza [Philippine News Agency, February 15, 2023]
Northern Samar 1st District Rep. Paul R. Daza announced Wednesday the upcoming release of the implementing rules and regulations (IRR) of Republic Act 11698 or the “Vintage Vehicle Regulation Act” of 2022, which will take effect in April this year.
Clark International Airport Corp. pays off loans, sends money to Treasury [Philippine Star, February 14, 2023]
CIAC was incorporated in 1994 as a wholly-owned subsidiary of Clark Development Corp., pursuant to Executive Order No. 193, with the primary purpose of operating and managing the Clark Civil Aviation Complex.
Gov’t seeks investors for 40-ha industrial zone in Bukidnon [Inquirer Mobile, February 14, 2023]
The industrial zone located at Barangay Dicklum in Manolo Fortich, Bukidnon boasts of a complete access road, as well as power and water supply and perimeter fence.
CHED to offer new scholarship program through coco levy fund [ABS-CBN News, February 14, 2023]
CHED Chairman Popoy De Vera said those taking up agriculture-related courses will be prioritized in the program, set to be launched this year.
BSP-run voluntary retirement savings program reports bigger contribution in 2022 [The Philippine Star, February 14, 2023]
PERA is a voluntary retirement savings program that was only launched in 2016, which the BSP considers a “superior” option since contributions can be exempt from tax payments. Likewise, the contribution has a 5% tax credit that can be used to pay for national income tax liabilities, and even a tax-free distribution on qualified withdrawal of investments into the program.
What’s cooking: Robina Gokongwei brings ‘Jack ‘n Jill’ to URC factory [Bilyonaryo, February 14, 2023]
Gokongwei-Pe seems bent on giving son Justin and daughter Joan a head start in running the family business by exposing them to the conglomerate’s activities. The siblings put on masks and hair coverings as they toured the URC plant.
Rama: Cebu city’s approved real property tax code violates law [SunStar Cebu, February 13, 2023]
On Feb. 6, 2023, Rama vetoed an ordinance approved by the City Council revising the RPT code, saying that it does not express the true values of properties and deprives the City Government of a proper source of funds.
Unauthorized collection of prize fund taxes reaches P4 billion, says Tulfo [Inquirer.Net, February 13, 2023]
The payment of prize fund tax has been repealed with the implementation of the Tax Reform for Acceleration and Inclusion (Train) law. Instead, a final tax of 20 percent is imposed on prizes and winnings of over P10,000 from the Philippine Charity Sweepstakes and Lotto.
BIR says VAT refund for foreign tourists should be limited to goods [GMA News Online, February 13, 2023]
Lawyer Brianna Kay delos Santos, section chief of the BIR's Law and Legislative Division, told lawmakers during a House hearing that the Finance Department is recommending a legislation that includes a provision stating that a tourist will be eligible for VAT refund on goods purchased in the Philippines provided that such goods are shipped or taken out of the country within 60 days from the date of purchase.
