Newsroom Category: Economy & Commerce

Boost foreign tourist arrivals, create more jobs with VAT refund mechanism

Senator Win Gatchalian is seeking to boost foreign tourist arrivals in the country and create more jobs with the establishment of a mechanism for a refund of value-added tax (VAT).   “To be truly competitive with its peers in the Asia Pacific region, the Philippines needs to establish a tourist VAT refund system, one that […]

Reminder to taxpayers to file income tax return before deadline

As the deadline for the filing of income tax returns approaches, Senator Win Gatchalian is urging taxpayers to settle their obligation as soon as possible.   “As responsible citizens of the country, taxpayers have a collective obligation to pay the right amount of taxes due them. Revenues generated by the government enable the implementation of […]

Proposed real property valuation reform measure expected to expedite LGU automation

Senator Win Gatchalian said the proposed real property valuation reform measure is expected to expedite the automation of local government units (LGUs) across the country and improve efficiency in revenue collection.   “Given that the direction of the current administration is to enhance digitalization of government processes, I believe the measure, once enacted into law, […]

P1/kWh more for lifeline consumers amid persistent high inflation rates

To further cushion the adverse impact of high commodity prices, Senator Win Gatchalian is proposing that the government should provide an additional subsidy of P1/kWh for low-income consumers or a total of P418 million to be sourced from the general appropriations fund.   With the effectivity of the Lifeline Rate Extension Act, authored mainly by […]

High cost of internet access in PH flagged; more affordable rates for consumers needed

Senator Win Gatchalian flagged the high cost of internet access in the country, emphasizing the cost of internet connectivity should be made more affordable for the benefit of consumers.   Speaking at a forum organized by the Senate Committee on Public Services, themed “Increasing Digital Connectivity in the Philippines”, Gatchalian revealed that in terms of […]

BSP capability to respond to crises scrutinized amid Maharlika funding

Senator Win Gatchalian asked the Bangko Sentral ng Pilipinas (BSP) to demonstrate its capability to respond to possible monetary crises and other financial challenges if it is tapped to provide capital for the Maharlika Investment Fund (MIF) and its own full capitalization is delayed.   Gatchalian made the scrutiny after learning that tapping the central […]

Privatization more logical, less controversial source of Maharlika fund

Senator Win Gatchalian said that the privatization of key government assets is a more logical source of the Maharlika Investment Fund (MIF) as this would shield key financial institutions from potential risks and unforeseen challenges.   “Privatization seems to be less controversial and more logical because the assets being sold now can be enjoyed by […]

BSP should prioritize increase of own capitalization amid move to fund MIF

Senator Win Gatchalian urged the Bangko Sentral ng Pilipinas (BSP) to prioritize the increase of its own capitalization pursuant to RA 11211 or the Act Amending the New Central Bank Act amid a proposal to tap the monetary regulatory agency as a source of the Maharlika Investment Fund (MIF).   Under the proposed measure, the […]