foreign investments up 35% in Q1
The government's four
investment promotion agencies approved P12.2 billion worth of
investments committed by Filipino and foreign investors in the
first quarter, representing a 35 percent increase over the same
period last year, Trade and Industry secretary Mar Roxas said.
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Government Bulletin Board
Commissioner Guillermo L.
Parayno, Jr. issued a WARNING to business establishment that are not
complying with the registration, invoicing and bookkeeping requirements.
VAT For Professionals
Imposes Value-Added Tax (VAT) on sale of
services by persons engaged in the practice of profession or calling and
professional services rendered by general professional partnerships;
services rendered by actors, actresses, talents, singers and emcees;
radio and television broadcasters and choreographers; musical, radio,
movie, television and stage directors; and professional athletes, as well
as services rendered by customs, real estate, stock, immigration and
commercial brokers, beginning January 1, 2003