The House committee on ways and means has recommended that the chamber House approve the Senate’s amendments to House Bill 7068, which extends the estate tax amnesty application period by two years from the original deadline of June 14.  June 14 is the deadline stipulated in Republic Act 11213 or the Estate Tax Amnesty Act.    On Sept. 15, 2020, the chamber approved on third reading House Bill 7068, which also called for a two-year ...

THE DEPARTMENT of Energy (DOE) needs to reveal its plans to maintain energy continuity after the contract of Malampaya gas field operator Shell Philippines Exploration B.V. (SPEx) ends in 2024, a legislator said.  Senator Sherwin T. Gatchalian said in a statement that he filed Senate Resolution No. 724 on May 18 directing the Senate Committee on Energy to conduct an inquiry on the DoE’s plans with the approach of the end of the ...

The House committee on appropriations approved on Friday House Bill 6096 or the Center for Disease Control and Prevention (CDC) Act, which seeks to establish an agency that will take the lead in handling infectious diseases such as coronavirus disease 2019 (COVID-19). The proposed CDC Act, listed as priority legislation in the 2020 State of the Nation Address of President ...

THE Philippine Center for Postharvest Development and Mechanization (PhilMech) said it has distributed 10,030 units of farm machinery to qualified cooperatives and associations as of the end of April, in line with the increase in mechanization contemplated by the Rice Tariffication Law.  PhilMech Director Baldwin G. Jallorina said in a virtual briefing Friday that the agency distributed an additional 2,520 units beyond the 7,510 that had been distributed at the end of February.  Qualified farmers are entitled to mechanization assistance under ...

Lopez-led First Philippine Holdings Corp. (FPH) said on Friday that it is allocating P50 billion for its capital expenditures (capex) this year, 72% higher than last year’s P29 billion as its business units pursue their planned projects. “Majority of the capex for this year will be for the energy group, First Gen [Corp.], [with] P26 billion,” FPH Chief Financial Officer ...

Real estate developer D.M. Wenceslao (DMW) finished the first quarter with P552.03 million in net income attributable to parent equity holders, up by 24% from last year’s P445.38 million due to the tax credit it recognized from the Corporate Recovery and Tax Incentives for Enterprise (CREATE) law. The company’s tax credit amounted to P91.7 million in 2021 — from a ...

Cebu Landmasters, Inc.’s (CLI) P983-million project Velmiro Heights in Cagayan de Oro City has sold 75% of its 518 house-and-lot units a month after its market introduction. The project is expected to generate P1.78 billion in sales. “COVID-19 (coronavirus disease 2019) heightened the need for homes offering safety and security not only among wage earners but also among mid-market executives ...

Andrew “Bibot” T. Gotianun, Jr., vice chairman of Filinvest Land, Inc. and director of Filinvest Development Corp., passed away on Friday. He was 69 years old. In a statement, the Gotianun family said his passing came “after a short bout with a non-COVID (coronavirus disease 2019) malignant illness.” “He was instrumental in growing the Filinvest group into the multi-faceted corporation ...

Philippine shares closed the week in the green as investors went bargain-hunting amid the local bourse’s intraday low and after the US released data showing lower initial jobless claims. The benchmark Philippine Stock Exchange index (PSEi) inched up by 1.61 points or 0.02% to close at 6,199.25 on Friday, while the broader all shares index increased by 2.42 points or ...

When you scroll through social media, you’ll probably see a friend or two with a dog. The pandemic is a time where everyone is staying at home, so it explains why many people seek companionship through adopting or buying new dogs. A dog has always been man’s best friend. However, it wasn’t until quarantine when many people fully embraced a ...