NLEX-SLEX connector road key to NAIA-Clark airports link-up
MANILA, Philippines State-run Bases Conversion and Development Authority (BCDA) on Friday said the unsolicited proposal of Manila North Tollways Corp. (MNTC) to connect North Luzon Expressway (NLEX) and South Luzon Expressway (SLEX) could cut travel time going to Clark International Airport. BCDA Chairman Felicito Payumo said the proposal to construct an elevated highway on top of the Philippine National Railways (PNR) railroad line is "strategic" because it would also link Clark airports and Ninoy Aquino International Airport (NAIA) and help decongest vehicular traffic in Metro Manila. The MNTC earlier said the 13-kilometer expressway linking NLEX-SLEX would cost about P17 billion. Payumo is optimistic that if the connector project would be awarded this year, it could be finished before President Aquino s term ends in 2016. By itself, the connector road is a game changer, Payumo said, adding that the connector would make travel time between NAIA and Clark a mere 70 minutes, or two-fifths of the current travel time. He recalled that Japan also had a dual airport system, but the linkup between Tokyo s Narita and Haneda airports was through an elevate expressway for about 10 years until the completion of an express train for speedier linkup. Payumo s statement came on the heels of a broader debate on whether to transfer NAIA to Clark Freeport zone in Pampanga or to operate NAIA and Clark airports under a two-airport system catering to both short- and long-haul flights. The debate was prodded by recent widespread criticisms tagging NAIA the world s worst airport. That tag has prompted the government to take another look at an earlier study done by Japan International Cooperation Agency (JICA) choosing Clark airport as an alternative to NAIA.
Velasco explained. Because of these (problems).500-hectare land and has two runways that can accommodate A380 airbus jets. according to Payumo. JICA said Clark airport sits on a 2. We will study the possibility of amending existing laws in order to accommodate not only Internet registration but also Internet voting. So. At the hearing of the Senate committee on electoral reform chaired by Sen.The Commission on Election (Comelec) is asking Congress to amend all election laws and allow Internet registration and voting for overseas Filipino workers as the poll body targets one million new registrants before 2013 mid-term election. Philippines -. the Automated Election Law. OFWs need to travel to the nearest country or embassy to register and/or vote. he added. The problem is that there are not enough embassies and consular offices to accommodate voting. Comelec commissioner Rene B. and complete NLEX-Skyway connections. But converting Clark as a real alternative to NAIA. we are considering Internet registration and voting. He added that the development of support facilities as well as infrastructure at and around Clark airport to serve both budget airlines and so-called legacy carriers would also play a big factor in determining Clark airport s growth.
Comelec asks Congress to consider Internet registration. Velasco asked Congress to study the possibility of amending the Overseas Absentee Voting Act. voting
MANILA. Aquilino Koko Pimentel III. giving them a hard time to exercise their rights and duties under our election laws. and the Fair Election Act to accommodate Internet registration and voting.Among other factors that it deemed significant in its choice of Clark. would depend largely on the connectors between the two major airports: a high-speed rail connection that can make travel time between two airports faster or not exceeding 45 minutes. He said there has been a low turn-out of registration and voting among OFWs due to lack of embassies and consular offices in or near their place of work. Velasco said.
For his part. I believe no one will block the measure. Pimentel said. The only question is the legal basis or the legal authority to actually implement Internet voting.000 registered OFWs voters under Overseas Absentee Voting Act. He also added that there was no opposition on the proposal for Internet voting but he believes some people in Congress will raise the issue of integrity and security of the system. just give them sufficient time. My concern is somebody will raise the issue on its integrity and security and if they (Comelec) adequately answered those concerns. Basta sabi ng mga suppliers. Ang tanong lang yung legal basis or legal authority to actually implement Internet voting. we need to amend the law. around 16 percent voted out of some 500. Pimentel said he will consult his colleagues in Congress for the possibility of amending existing election laws on the request of the Commission to lay down the legal authority and basis for Internet voting. Walang opposition ito. In the 2007 elections.
. Pimentel said. If the law needs to be amended then we have to do it but it will depend on the legislative mill. the turn-out rose to 26 percent out of more than half a million registered voters. And in 2010. Pimentel explained. Comelec is targeting one million new registrants before the 2013 mid-term elections. I have to double check that (Internet voting can easily be implemented because the software exists. Kaya naman lahat eh (The suppliers said they should only be given sufficient time and everything can be done). Ang basa ng Comelec. The Comelec thinks we need to amend the law). Kayang-kayang i-implement ang Internet voting kasi may software naman.
alcohol taxes By Ted P. the World Bank said in its latest Philippine quarterly update. higher excise rates would induce the poorer households to reduce consumption compared to wealthier households. the World Bank recommends a shift to a uniform excise tax rate for all cigarette brands. The Philippine government must raise excise tax rates to achieve an
.The World Bank has urged the Philippine government to increase the share of excise taxes on tobacco and alcohol to nearly 1. and to discourage their consumption. thus savings from reduced consumption (by the poorer households) can be channeled to food and human capital investment to enhance their welfare. Likewise.DISTRIBUTION FUNCTION
World Bank urges PH to hike tobacco. The Philippine Star Posted at 01/01/2012 10:34 AM | Updated as of 01/01/2012 10:35 AM
MANILA. the World Bank report said. This leaves more opportunities to challenge the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) assessments as opposed to specific excises. Ad valorem excises are more complex to administer since the value of the product has to be ascertained and is prone to transfer pricing abuse. the incremental revenue would enable the government to increase its human and physical investment to improve the country s growth and development prospects. The report recommends specific taxes over ad valorem.3 percent of gross domestic product (GDP) in the next five years. It added that this would also address the large negative externalities arising from smoking and drinking. stating that specific taxes are automatically and frequently indexed to inflation. it said. In a report. For tobacco. which simply require counting physical quantities. Over the medium term. Philippines . the World Bank said the move would not only increase its income share to the government coffers but the additional revenues can be used to improve health services and social protection. Torres.
discourage consumption. and China with 62. including cigars. Indonesia with 51. in Vietnam. What many people do not realize is that there are numerous sources of income that are not taxed by the federal government. By indexing. 2012
It s almost time for tax season. In Thailand.2 percent to RSP.average excise to retail sales price (RSP) ratio of 50 percent in 2012 (and 60 percent by 2016). the excise tax rates to nominal GDP growth will keep the excise burden from falling. It further suggested that government must ensure all tobacco taxes are subject to specific tax rates. then you will reduce your overall tax burden. For alcohol.2 percent.5 percent for wine. in Cambodia. and improve equity across brands. 50 percent for beer and 25 percent for wine. and provide funds to improve health services.3 percent. Here are eight sources of income that are not taxable under the federal tax code. avoid revenue erosion in the future. it added. it added. The rationale behind the World Bank recommendations is that a shift to a uniform excise tax rate for all brands will remove production distortions.1 percent for beer and 5.2 percent tax burden to retail sales price while Thailand slaps 73. The move will further improve administrative efforts to minimize leakages from smuggling due to the proposed higher tax region. Everyone knows that your earned wages will be taxed by the IRS. 30 percent for beer and 10 percent for wine. If you can increase your income from these sources. Philippines reflect a 48. it is 55 percent for beer and 25 percent for wine. The current multi-tier price classification system has no clear policy rational and is unique internationally.
8 Types Of Non-Taxable Income By Michael Diaz Published January 16.
. The report said that the Philippines must bring the excise rate closer to regional rates while increasing revenue.8 percent to RSP. and index excise rates to nominal GDP. But what are these sources and how can you take advantage of them. the Philippines reflects an excise to RSP of 26. Pakistan with 69. It therefore should be abolished.
However. Non-Taxable Gifts A gift is exactly what it sounds like.000 of capital gains from you taxable income. but if a loved one dies and you are the beneficiary of their life insurance policy. you will generally not have to pay any taxes on the life insurance money that you receive. You should note that there are some exceptions to this rule. and gifts to a political organization. Employer Fringe Benefits There are numerous fringe benefits that employers give to their employees. As long as these subsides are not valued more than $230. a good many are not. If you can do this. you can give a person up to $13. According to the IRS.
. use of a company car and employee discounts. you may be able to get a partial tax exemption for the income earned from the sale. then you can exclude up to $250. bus passes or cab fares. Additionally. Be aware that there are taxable municipal bonds that do not benefit from federal or state tax exemption. Income From The Sale Of Your Primary Residence If you sell your primary residence for a profit and pass the IRS tests for home use and ownership. Life Insurance Money It is not pleasant to think about. This can include subway cards. a gift is any transfer to an individual that the individual does not fully pay for. Other types of gifts that can qualify for tax exempt status include tuition or medical expenses that you pay on behalf of someone else. some companies also offer parking subsidies to their employees that drive to work. Make sure that you pay close attention to the tax status of any municipal bond or municipal bond fund that you purchase. Other tax free fringe benefits include free gym membership. You should speak with a tax expert before giving a gift to make sure that you take full advantage of the potential tax benefit. You should consult with the IRS or a tax specialist for further information about when life insurance disbarments can be taxed. you can receive these subsidies tax free. then a portion of your income for the sale will be tax exempt.000 without any party being taxed. If you don t meet the two year test. in 2011. you can exclude up to $500. Some companies offer their employees subsidies for public transportation. You also need to prove that it is your primacy place of residence. For example. gifts to your spouse. interest earned from tax exempt municipal bonds is not subject to federal taxes. Some gifts are taxable. To pass the tests. In fact.000. you need to prove that you have owned your home for at least two of the past five years.Interest Earned From Tax Exempt Municipal Bonds As the name suggests. If you file jointly with your spouse. many states also give state tax exemption if the bonds were issued in the state in which you file your taxes. This tax exemption applies to both individual tax exempt municipal bonds and to shares in tax exempt municipal bond funds.
you will be able to save money during tax time. Personal Injury Awards If you have been issued financial awards because of a personal injury suit. Since these payments are made by a state agency or tax-exempt organization. You should speak with a tax professional to determine whether you need to report the funds you received from a personal injury suit. you do not have to report child support payments to the IRS. you will receive payments from the state to help with expenses. many people focus on the financial items that they are required to report. If you can take advantage of these sources of tax free income. you might not have to pay taxes on the money awarded. we could all benefit from taking a closer look at the income that we don t need to report. Foster Care Payments If you take care of foster children.Child Support If you are the parent with custody of the child. However.
. you do not have to report them to the IRS. You should note that spousal support is not necessarily tax exempt. When tax season rolls around.
The fourth major investor in the Bagong Nayong Pilipino entertainment complex forged ahead with a $2-billion integrated resort project Thursday on a 45-hectare site at the Manila Bay Reclaimed Area.. Attracting $5B in investments Philippine Amusement and Gaming Corp. Tiger Resorts. GMA News January 26. The complex will also have high-end fashion boutiques and outlet malls.. said construction will commence next February while the formal opening is expected in the third quarter of 2014. noted its Manila Bay Resorts venture will become the next major world-class entertainment. including an indoor beach club encased under a huge glass dome. Japan-based Universal Entertainment Corp.STABILIZATION FUNCTION
Japanese investor breaks ground at Bagong Nayong Pilipino EARL VICTOR ROSERO. Manila Bay Resorts seeks to attract business travelers and tourists from all over Asia especially the Chinese market. Earl Rosero Speaking through an interpreter. said in an interview with reports the whole Bagong Nayong Pilipino complex will be up and
. South Korea. respectively.. Its subsidiary. A 1000-room budget hotel will also be put up within the resort.000 jobs. Leisure and Entertainment Inc. shopping and gaming destination in Asia. The entertainment complex will have two luxury casino hotels hosting 450 and 600 rooms. (PAGCOR) chair Cristino Naguiat Jr. according to Tiger Resorts. Singapore and Hong Kong were also eyed. saying that the venture will create 15. The tourism markets of Japan. targeting to reach a wider market. Universal Entertainment chair Kazuo Okada said construction will start with the large-scale water fountain and then progress to the other components. the resort developer said. Tiger Entertainment unveiled this scale model of its Manila Bay Resorts project during groundbreaking rites on Thursday at the project site in the Manila Bay reclaimed area.
all of which were signed up during the Arroyo administration. We are very.000 lives Director-general Lilia B.000 direct and indirect employment will redound to the lives of at least 400. noting the whole complex can easily attract at least $5 billion in investments. VS. are already halfway through their respective construction projects. She said the Japanese are the biggest investors in the country's 250 economic zones and are responsible for at least 40 percent of total projects. PAGCOR is primed and ready to take on the challenge to position Manila to be one of the world's entertainment and gaming capitals. We look forward to a long and fruitful partnership with you.000. but also from other government agencies. He also said the Bagong Nayong Pilipino complex may have room for a fifth major project.000 from the 10-hectare expansion of the slot machine plant will likely create indirect employment for 80. The three other investors in Bagong Nayong Pilipino are Bloomberry Resorts and Hotels. which she said is poised to hire an additional 5. It's time to roll up our sleeves. saying the impact of 80. not only from PAGCOR. The Manila Bay Resorts' 15. Impact on 400.000 jobs target plus the 5. De Lima noted. GMA News
. Travelers International Hotel Group Inc. very optimistic that this project will succeed because gaming and entertainment is more fun in the Philippines.. he added.000. De Lima added. Each Filipino wage earner supports an average of five persons.running in 2014.. Naguiat said in his remarks during the groundbreaking ceremony.. de Lima of the Philippine Economic Zone Authority (PEZA) said that Universal Entertainment is not a new investor and is familiar with the Philippines because it already operates in Laguna a slot machine production plant. Naguiat noted that Bloomberry and Belle Corp. and Belle Corp. in which new investors could collaborate with the four proponents now on board.000 workers. We assure our partners of full support.
The department also identified four emerging industries. computer teachers.Labor Secretary Rosalinda Baldoz called on the unemployed and graduates fresh from college to fill up the demand for workers and staff in the key employment generator (KEG) industries that will offer 30. The country s KEG industries are also in need of experts in the heavy equipment. inventory-control staff. or training focused or related to these KEGs and emerging industries to ensure that they will have jobs after graduation. diversified/strategic farming and fishing.000 job vacancies in the forthcoming May 1 jobs fair. as well as staff to be employed in credit and collection work. Business Mirror Posted at 04/20/2011 7:48 AM | Updated as of 04/20/2011 10:59 AM MANILA. which are creative industries. power and utilities and renewable energy. The labor chief said that among the hard-to-fill job vacancies include academic coordinators. visual-display artists. Philippines . degrees. said Baldoz. and dining personnel. The labor chief said the KEG are industries that have been identified in the labor market study of the Department of Labor and Employment that will generate in-demand and hard-to-fill occupations in the next 10 years. like safety engineers. labor-relations experts. promotion officers. such as food-and-beverage managers. fresh grads By Estrella Torres. work-flow managers. receptionists.May 1 jobs fair targets unemployed. kitchen staff. The growing hotel-and-restaurant industries in the country are also in need of hard-tofill staff positions. graphic artists. they are well advised to consider taking up studies. fashion designers.
. Baldoz urged job seekers to tailor fit their qualifications by undergoing skills training and enhancing their capabilities to establish careers in these emerging industries. mechanics and automotive technicians. as well as maintenance crew and promodizers. For students taking up college or technical-vocational courses.
PROJECT IN PUBLIC FINANCE
Submitted to: Prof.Bicol University College of Business. Economics and Management Daraga.Economics. Lorayes AB. Clea Bongat
Submitted by: Marie Abegail A.