Someone made the observation that in today’s tiger economies, governments roll out the red carpet to attract investors. Our government rolls out the red tape instead.
There is no reason why the Philippines should not be among the top trading partners of the European Union (EU) in the Association of Southeast Asian Nations (ASEAN), an official from a European business group said.
Business groups are considering legal action to push for the removal of a circular covering value-added tax (VAT) refunds which they claim would dampen the country’s competitiveness.
Various investors in the country fear to lose at least P15 billion in VAT (value added tax) refund claims once the Bureau of Internal Revenue implements its new refund rule retroactively even as business groups warned of a backlash on government’s investment campaigns.
Contrary to the views of other business groups, the Philippine Chamber of Commerce and Industry (PCCI) favors the proposed rebidding of the P35.4-billion Cavite Laguna Expressway (Calax) deal as the government stands to gain at least P8.45 billion from this exercise.
BIR circular on VAT refund claims stirs hornets’ nest. A number of business chambers and industry groups are going over plans to go to court in a bid to stop the implementation of the recently issued government rule on investors’ value- added tax (VAT) refund claims.
The House of Representatives is targeting to draft a resolution by year-end to define how the Bureau of Internal Revenue (BIR) issues orders or circulars on taxes to maintain the stability of the business environment.
Corporate governance-advocate Integrity Initiative has named ING Bank as one of the most ethical and honest firms in the Philippines.
Water-management issues will become increasingly important across the region over the next 20 to 50 years, as cities expand and competition for water resources from these growing communities, as well as industry and agriculture, intensifies. Overall, its demand for water could increase by a third over the next 20 years, the 2003 Asean Long Term Strategic Plan for Water Resources Management says.
Investments registered with the Philippine Economic Zone Authority (PEZA) went up by 6.18 percent in the January to September period from a year ago, supported by the entry of new locators and expansion of existing players.
Sunwest Water and Electric Company (SUWECO) 2 was recognized by the International Finance Corporation (IFC) and Banco De Oro Unibank (BDO) as one of the best local companies engaged in renewable energy projects during the recent Energy Smart Philippines 2014 organized by the European Chamber of Commerce of the Philippines (ECCP).
The government must ease foreign restrictions, promote competition, and support small and medium enterprises (SMEs) to maximize the benefits of the planned regional economic integration next year, business groups and economists said.
In close partnership with government, businesses, civil society, and academia, ECCP passionately works to enhance the business environment for both European and Filipino companies.