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y, June 29, 2018 Vol. 13 No. 258
Friday, June 29, 2018 Vol. 13 No. 258
HE national government “[The lower amount Cu @ReaCuBM lowered By itsRea domestic is due to the] RTB borrowing program for and sustained the third quarter to P300 bilgood collection lion, on the back of robust colperformance of lections of the main revenue the government’s total tax [the] BIR and BOC.” agencies of the government. —de Leon revenue for the january-may National Treasurer Rosalia period of P240 billion for the first quarV. de Leon cited the good perThe government’s total tax revter of this year, awarding only formance of both the Bureau enue for the period amounted to P124 billion in the end. of Internal Revenue (BIR) and P1.066 trillion, expanding by 18.4 Broken down, P195 billion Bureau of Customs (BOC), as percent from the recorded P901 bilwill be borrowed through Twell as the successful retail lion last year. bills and P105 billion through Treasury bond (RTB) issuance In terms of total revenue, the T-bonds, with the auction for earlier in the month. government registered P1.186 trilT-bills happening on a weekly “[The lower amount is due lion this year, expanding by 19 perbasis and the auction for Tto the] RTB and sustained good The DOF’s latest economic bul- P996 Tax revenues from the Bureau of Bureau of Customs cent compared to last year’s bonds every fortnight.(BOC), collection performance of [the] For the letin said the improvement in the Internal Revenue (BIR) rose by 15.5 tax revenues grew by percent, ms (BOC), billion. Revenue effort rose by 1.43 During the 31.2 July-to-SepBIR and BOC,” de Leon said in a from points, January to May reach P827.7 billion for amounting to P229.4 for the 2 percent,tax effort percentage settling at 18.7percent totext tember period,billion the Treasury message. wascoming “highest first five this year comparedin the five-month period, coming from on for thethis year percent, from 16.74 percentthe same period is set to have 13 auctions for Domestic borrowings taxsame effortperiod ever achieved.” to last year’s billion. billion in 2017 ing frommonths’ in the for 2017. six-month and formP716.8 of Treasury bills (T-bills) P174.9three-month, Continued on A2 one-year IOUs at an offer size and Treasury bonds (T-bonds) of P15 billion. A total of sevwere lowered to P300 billion en auctions is set for T-bonds in the third quarter, coming with an offer size of P15 bilfrom the P325 billion in the lion each, as well with the tensecond quarter of this year. ors ranging from three, five, This showed a contraction of seven, 10 and 20 years. 7.6 percent. The national government The government had set a See “Borrowings,” A2 domestic borrowing program
₧1.066 trillion
first by rcent, ng as form
by
xi tells mattis: china won’t yield ‘1 inch’ of territory
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RESIDENT Xi Jinping told US Defense Secretary James Mattis he wouldn’t give up any territory that China considered its own, an unusually blunt warning as security disputes simmer below a fight over trade. Xi made his remarks while meeting Mattis on Wednesday in Beijing, the first such visit by a US defense chief in more than four years. The comments appeared to be a reference to US complaints about Chinese military deployments in the disputed South China Sea and a push by American lawmakers to expand ties with the democratically run island of Taiwan, which Beijing considers a province. “Our stance is steadfast clear-cut hotel brand in Newport City, the P5-billionand savoy Hotel Manila. China’s have uniquewhen views itof comes the Naiato runway and sovereignty the Makati skyline. and territorial integrity, ” Xi said, accordPasay City Mayor’s Office; Raymundo Melendres, group hotels ing tomanager, the official Xinhua News Agency. nzo Tang, general savoy Hotel Manila; Lourdes See “Mattis,” Conversion and development authority; A12 and stephen Reilly,
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HE government’s tax effort for the first five months of the year increased by 1.19 percentage points to 16.33 percent, the Department of Finance reported, citing as factors the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law and enhanced administrative efforts by revenue-collecting agencies.
DA pours in millions to turn ‘Bora’ into agro-tourism site
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₧1.066 trillion the government’s total tax revenue for the january-may period
The government’s total tax revenue for the period amounted to P1.066 trillion, expanding by 18.4 percent from the recorded P901 billion last year. In terms of total revenue, the government registered P1.186 trillion this year, expanding by 19 percent compared to last year’s P996 billion. Revenue effort rose by 1.43 percentage points, settling at 18.7 percent, coming from 16.74 percent in the same period for 2017. Continued on A2
HE Department of Agriculand seeds to be planted on a portion ture (DA) is turning Boracay of the 2.1-hectare ancestral domain Island into an agro-tourism area of the Ati tribe in Barangay site by pouring millions worth of inManok-manok. terventions and facilities, which are The DA also pledged to establish expected to be operational when the a solar-powered greenhouse, an area reopens to visitors in October. organic restaurant, tribal vacation Agriculture Secretary Emmancottages made of indigenous builduel F. Piñol said members of the ing materials and a solar-powered Ati tribe, including farmers and irrigation system in the area, acfishermen, received a “bonanza” cording to Piñol. All of these esof government support, and this tablishments could be operated saVOyisHOTeL IN NewPORT CITy Megaworld opened its second by savoy hotel brand in Newport expected to help them earn has and handled the members of City, the P5-billion savoy Hotel Manila. Locatedmore across the Naia Terminal 3, the 11-story “airport hotel” rooms that have unique views of the Naia runway and the Makati skyline. income. theoffers Ati 684 tribe. Leading thePiñol, hotel’s ceremonial were (from the Pasaywhich City Mayor’s Office; Raymundo Melendres, group hotels who wasopening in Boracay onleft) engr. albert “TheParedes other of projects were head, Global Inc.; kevin L.P1.950 Tan, CeO, alliance Global Group Tang,accepted general manager, savoy Hotel Manila; Lourdes JuneOne 27,Hotels said Group they provided proposed byInc.; theLorenzo DA and Gutierrez-alfonso, chiefloans operating Megaworld; dizon, Bases people Conversionlike and development authority; and stephen Reilly, million in to officer, farmers and Vinceby thepresident, Ati tribal the chief operating officer, Travellers International Inc. fishermen in distress, 10 fiberglass Tribal Organic Restaurant, Tribal boats, and vegetable farming tools Continued on A12
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Tax effort in Jan-May national govt cUts n-May 3rd-QUarterdomestic grows at record rate borrowings to p300b rd rate T
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national govt cUts 3rd-QUarter domestic borrowings to p300b
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HE national government lowered its domestic borrowing program for the third quarter to P300 billion, on the back of robust collections of the main revenue agencies of the government. National Treasurer Rosalia V. de Leon cited the good performance of both the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC), as well as the successful retail Treasury bond (RTB) issuance earlier in the month. “[The lower amount is due to the] RTB and sustained good collection performance of [the] BIR and BOC,” de Leon said in a text message. Domestic borrowings in the form of Treasury bills (T-bills) and Treasury bonds (T-bonds) were lowered to P300 billion in the third quarter, coming from the P325 billion in the second quarter of this year. This showed a contraction of 7.6 percent. The government had set a domestic borrowing program
“[The lower amount is due to the] RTB and sustained good collection performance of [the] BIR and BOC.” —de Leon
of P240 billion for the first quarter of this year, awarding only P124 billion in the end. Broken down, P195 billion will be borrowed through Tbills and P105 billion through T-bonds, with the auction for T-bills happening on a weekly basis and the auction for Tbonds every fortnight. During the July-to-September period, the Treasury is set to have 13 auctions for three-month, six-month and one-year IOUs at an offer size of P15 billion. A total of seven auctions is set for T-bonds with an offer size of P15 billion each, as well with the tenors ranging from three, five, seven, 10 and 20 years. The national government See “Borrowings,” A2
DA pours in millions to turn ‘Bora’ into agro-tourism site
T
HE Department of Agriculture (DA) is turning Boracay Island into an agro-tourism site by pouring millions worth of interventions and facilities, which are expected to be operational when the area reopens to visitors in October. Agriculture Secretary Emmanuel F. Piñol said members of the Ati tribe, including farmers and fishermen, received a “bonanza” of government support, and this is expected to help them earn more income. Piñol, who was in Boracay on June 27, said they provided P1.950 million in loans to farmers and fishermen in distress, 10 fiberglass boats, and vegetable farming tools
and seeds to be planted on a portion of the 2.1-hectare ancestral domain area of the Ati tribe in Barangay Manok-manok. The DA also pledged to establish a solar-powered greenhouse, an organic restaurant, tribal vacation cottages made of indigenous building materials and a solar-powered irrigation system in the area, according to Piñol. All of these establishments could be operated and handled by the members of the Ati tribe. “The other projects which were proposed by the DA and accepted by the Ati tribal people like the Tribal Organic Restaurant, Tribal Continued on A12
peso exchange rates n Us 53.4820 n japan 0.4851 n UK 70.1416 n hK 6.8150 n china 8.1009 n singapore 39.1179 n aUstralia 39.2558 n eU 61.7985 n saUdi arabia 14.2615 china 8.1009 n singapore 39.1179 n aUstralia 39.2558 n eU 61.7985 n saUdi arabia 14.2615 Source: BSP (28 June 2018 )
Source: BSP (28 June 2018 )