Six textile firms illegally secured P1.58-B tax credits

The value of tax credits granted to a half-dozen textile companies from 2008 to 2014 that were invalidated by the Commission on Audit (COA) have now ballooned to P1.6 billion,…

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PITC returns P5.2-B to BTr in H1 2021

The Philippine International Trading Corp. (PITC) has returned a total of P5.2 billion to the Bureau of the Treasury (BTr) in the first half of 2021, according to a report…

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Locally sourced LGU revenues rise 5% to P169-B in Q2

Local government units (LGUs) have increased their collections from locally sourced revenues (LSRs) by 5 percent to P168.96 billion in the second quarter of 2021, compared to P161.49 billion in…

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PhilGuarantee covers P3.5-B agri loans in 1H of 2021

The Philippine Guarantee Corp. (PhilGuarantee) has provided guarantees to loans in the agriculture sector amounting to P3.5 billion in the first half of 2021, which is already 95 percent of…

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PhilGuarantee MSME loan guarantees grow to P2.1-B as of mid-2021

The amount of bank loans of micro, small and medium enterprises (MSMEs) guaranteed by the Philippine Guarantee Corp. (PhilGuarantee) reached P2.1 billion as of June this year, allowing almost 10,000…

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