Businessmirror april 24, 2016

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Sunday, April 24, 2016 Vol. 11 No. 197

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Zambales tax amnesty extended to June 30

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BA, Zambales—The Zambales provincial government has given taxpayers here up to June 30 to pay their real-property taxes without the obligatory-interest charges for delayed payments. Board Member Renato Collado, chairman of the Committee on Legal Matters, Review of Ordinances and Executive Orders, said the Sangguniang Panlalawigan has further extended the tax amnesty for real property to enable more taxpayers to avail themselves of the program. Collado said, however, that, while the provincial government has waived the penalties due for late payments, taxpayers are still obliged to pay the principal amount of their taxes. The extension of the tax-amnesty program was approved by the provincial council through a board resolution passed on February 15, where it resolved to move the granting of tax amnesty in the payment of interest and penalties of real property “until June 30, 2016, under the terms and conditions embodied in Ordinance 2014-07.” Ordinance 2 014 - 07, which was enacted on January 20, 2014, originally set the grant of tax amnesty for real property. However, the board passed Ordinance 2015-35 on July 15 last year to extend the amnesty until December 30, 2015. “Now, we have extended it further to encourage more taxpayers to pay their tax dues. We also hope that by doing so, we can increase the income of the provincial government,” Collado said. Collado, a lawyer by profession, said the granting of the tax amnesty is in accordance with Section 192 of the Local Government Code of 1991. He said he had moved for the extension of the tax amnesty, and the provincial council approved the See “Zambales,” A2

SUCH UNSHAKABLE FAITH DEAR Lord, it is good to know that many things wavered in Simon Peter, but not his faith in You and his love for You. It was such unshakable faith and faithful love that sustained Peter in his ministry and eventually led him to shed his blood for You and Your flock. After him, among his 263 successors, many excelled in virtue, holiness and human qualities. Others fell short of the demands of their calling. May we be inspired to possess such unshakable faith like Peter and to live in the state of grace always. Amen! Word & Life, Fr. Sal Putzu, SDB and Luisa M. Lacson, HFL

LONE SURVIVOR Growing atop an islet at the Magat Dam reservoir in Ramon, Isabela, is a single tree that appears to be the only surviving tree in the area after the dam’s water level severely dropped to alarming proportions. The extremely hot weather currently plaguing the country has caused misery to people, flora and fauna. In the foreground, a lone fisherman appears to struggle for a catch downstream. LEONARDO PERANTE II

Changes in diesel, gasoline prices expected this week

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By Lenie Lectura

@llectura

HE price of diesel is expected to go up again, while that of gasoline is seen to go down this week. Based on last week’s early trading days in the international oil market, oil companies are expected to implement a P0.50 to P0.70 per-liter price rollback in gasoline. Diesel prices, they said, could go up anywhere, from P0.20, to P.40 per liter. “The expected price adjustment was based on the Monday-to-Thursday trading days. There is no final computation yet for the whole week, but this expectation should be close to

actual figures that will be known on Monday,” a representative of an oil company said on Saturday. On April 19 oil companies effected an increase of P1.10 per liter for both gasoline and kerosene. Diesel price was also increased by P1.50 per liter. Last week’s price increase was implemented after two consecutive weeks of rollbacks. The year-to-date total adjustment in gasoline returned to a net

increase of P1.02 per liter, while that of diesel escalated to net increase of P1.78 per liter, according to the Department of Energy (DOE). Also, the agency, in its web site, said specu lations of oil traders that an agreement on production cut could be reached during the meeting among Organization of Petroleum Exporting Countries (Opec) and non-Opec member - cou nt r ies prompted prices to go higher. No agreement was reached. Last week the DOE also said it was expecting oil prices to go down this week. Philippine pump prices are based on the average prices based on the Mean of Platts Singapore or MOPS. This refers to the prices of finished product, not crude. Finished products are the gasoline and diesel sold in pumping stations.

Obama: Brexit would put UK at back of line for trade deals P RESIDENT Barack Obama said Britain would be at “the back of the queue” to negotiate a trade agreement with the United States if it votes to leave the European Union (EU), in a direct assault on the arguments of those who say the United Kingdom could win better deals outside the bloc. “Some of the folks on the other side have been ascribing to the United States certain actions we will take if the UK does leave the EU,” Obama said at a joint press conference in London on Friday with Prime Minister David Cameron. “For example, that, well, we’ll just cut our own trade deals” with the US. “Maybe at some point down the line, there might be a UK-US trade agreement, but it’s not going to happen anytime soon.” The intervention is a boost to Cameron, as he fights to keep Britain inside the 28-nation EU, with the use of the British word “queue” rather than the more American

PESO exchange rates n US 46.3840

U.S. President Barack Obama (left) and British Prime Minister David Cameron hold a media conference at the Foreign and Commonwealth Office in central London on April 22, following their talks at Downing Street. Obama stepped into Britain's debate about European Union membership and many other topics during his short visit to the UK. AP

“line” suggesting the White House may have coordinated on the language. The emphasis on trading isolation closed a week that began with a warning from the UK Trea-

sury that a so-called Brexit would cause decades of economic damage. While campaigners to get Britain out of the EU had begun the week

D.O.T. promotes halal food prep as more firms await certification

TOURISM Assistant Secretary Arturo Boncato Jr. discusses the $145-billion tourism receipts turned in by Muslim travelers every year, which the Philippine halalpromotion project wants to take a slice of. MANUEL CAYON

By Manuel T. Cayon | Mindanao Bureau Chief @awimailbox

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AVAO CITY—The Department of Tourism (DOT) went full blast in promoting halal, the Islamic practice in food-related preparation, and said it would up its scale in the Crescent Rating on preferred global destinations for Muslim travelers. Tourism Assistant Secretary Arturo Boncato Jr. said the promotion in recent years of Islamic food-preparation practices, at least in southern Philippines, has improved slightly the standing of the Philippines in the Crescent Rating, now at 46th spot among 100 preferred nations. “It’s not a good spot yet, and we have to exert more effort to go up further. We should strive to land in the top-10 list,” he said. The Crescent Rating is the recognized travel guide among Islamic countries, where their nationals are among the leading number of travelers for business or leisure. Boncato presented the likelihood of the country increasing its chances of landing at the top-10 list in the Crescent Rating, citing the proximity of Malaysia and Singapore, two of the world’s favorite destinations among Muslims. He said Malaysia is turning out to be a top destination for Muslim travelers belonging to the 57-member nation Organisation of Islamic Cooperation (OIC), while Singapore is the preferred spot for Muslims in countries that are not members of the OIC. “Fortunately for us, these two countries are within our neighborhood and we have to really work it out to invite them to our See “D.O.T.,” A2

Continued on A2

n japan 0.4239 n UK 66.4172 n HK 5.9798 n CHINA 7.1569 n singapore 34.3814 n australia 35.8827 n EU 52.3536 n SAUDI arabia 112.3724

Source: BSP (22 April 2016 )


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