BIR missed collection target in May
By Paolo G. Montecillo
Tax collections of the Bureau of Internal Revenue (BIR) rose by nearly a fifth in May, but fell short of the official target for the month, data released on Monday showed.
Tax collections of the Bureau of Internal Revenue (BIR) rose by nearly a fifth in May, but fell short of the official target for the month, data released on Monday showed.
Tycoon Andrew Tan-led Alliance Global Group Inc. grew its first-quarter net profit by 18 percent year on year to P4.91 billion on higher earnings chalked up by its property development, gaming and beverage businesses.
Energy Development Corp., the country’s largest producer of geothermal energy, expects to generate as much as P1 billion in yearly revenue once a 20-megawatt geothermal facility in Southern Negros starts commercial operations next year.
A top Google executive on Monday insisted that the company’s “key” role in developing Britain’s electronic commerce sector should be taken into account in the row over its controversial tax arrangements.
Twitter is on pace to earn more than a half-billion dollars in ad revenue this year and close to $1 billion next year, industry tracker eMarketer estimated on Wednesday.
The national government incurred a budget deficit of P19.5 billion in January, jumping 23 percent year-on-year as a double-digit surge in expenditures outpaced that for revenues, according to documents from the Bureau of the Treasury.
The Bureau of Customs has firmed up the reduction of its revenue collection target for this year.
Lopez-led Bayan Telecommunications Inc. reported strong revenue growth for 2012 on the back of its growing broadband Internet business.
MANILA, Philippines—Publicly listed Globe Telecom Inc. on Thursday reported higher revenues for January to September, but higher costs associated with its ongoing network modernization effort reduced the earnings of the Ayala-controlled telecommunications firm. In a statement, Globe Telecom said it closed the nine-month period with consolidated service revenue of P61.3 billion, up 6 percent [...]
Australia Monday cut its growth and budget surplus forecasts as worsening global conditions hurt revenues in the mining-driven economy.
Finance Secretary Cesar Purisima and Bureau of Internal Revenue Commissioner Kim Henares denied on Wednesday that they favored the House of Representatives’ version of the sin tax bill that imposed much less taxes on beer and alcohol, as alleged by Sen. Ralph Recto.
Revenues of the National Telecommunications Commission (NTC) at the end of September reached a record P4.14 billion, boosting officials’ expectations that the agency would break new ground in terms of earnings this year.
