Ben Arnold de Vera @benarnolddevera Twitter profile | Pikagi

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Ben Arnold de Vera

@benarnolddevera

3,166

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113

Following

1,912

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11,360

Statuses

Freelance writer | Allergic to plagiarists | 🇵🇭

Joined March 2014

Don't wanna be here? Send us removal request.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

10 hours

Businesses in the Philippines enjoy operating in a strong regulatory environment but are most bogged down by inefficient government support services, @WorldBank ’s new Business Ready report (that replaced the annual Doing Business rankings) showed.👇

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Weak public services cripple Philippine businesses—World Bank

Businesses in the Philippines enjoy operating in a strong regulatory environment but are most bogged down by inefficient government support services, the World Bank's new Business Ready report...

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

In InquirerPlus today: 2021 net loss of the Social Security System (SSS) — the state-run pension fund for private-sector workers — increased 99% to P843.9 billion on the back of ballooning future liabilities now counted in its financial statement. Details here 👇

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

Screencap of text query I sent to BIR Deputy Commissioner Guballa yesterday following some surprise and confusion over yesterday’s media advisory 😅

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

3 months

Weekend chismis (from very reliable source): Fred Pascual soon to be plucked out of DTI; Arsi Balisacan to DTI; Stella Quimbo to NEDA; Sonny Angara to DepEd 😱🤔🧐

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 months

Sovereign wealth fund Maharlika Investment Corp. temporarily holds office at ORE Central in BGC. Heard that at times, luxury cars & armored vehicles line-up streets around this building as politicos, bizmen troop to an influential law firm here w/c has ties to the powers that be.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

We’re interviewing Tourism Sec. Berna Romulo-Puyat on the sidelines of the 52nd @ADB_HQ Annual Meeting in Nadi, Fiji, then President Duterte called her up. She asked the President where he is now. President Duterte sent her this photo: he’s watching Netflix in Davao @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

WATCH: Workers of shuttered POGO service operator Great Empire Gaming and Amusement Corp. now leaving the building here in Eastwood @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Even when he was still NEDA Secretary, Pernia last February said shutting down ABS-CBN could hurt investor confidence in the Philippines

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TV firm’s ‘shutdown’ to hurt investor confidence | Inquirer Business

For the country’s chief economist, a looming shutdown of media giant ABS-CBN Corp. could hurt investor confidence in the Philippines.

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

When irresponsible reporting fueled unnecessary hate, just like fake news via @inquirerdotnet

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Pernia: TV report, not Neda, said P10,000 budget enough | Inquirer Business

An erroneous television report spurred hate against the National Economic and Development Authority (Neda), which supposedly claimed that P10,000 is enough to sustain the needs of a family of five...

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Bureau of Internal Revenue (BIR) further extended deadline to avail of ongoing tax amnesty on delinquencies to June 8. BIR earlier extended to May 23 instead of the original April 23 deadline amid the enhanced community quarantine imposed in Luzon and other areas. @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

3 years

Multiple sources claimed @DBMgovph Secretary Wendel Avisado resigned, or on leave, or fired. No confirmation from Sec. Avisado and other DBM officials we sought yet. DBM Usec. Anthony Aguilar designated to be OIC, per sources, after another Usec declined @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Some good news: 350 jobs up for grabs as Japan Tobacco International picked the Philippines as its Asia-Pacific business service hub. JTI said “hiring is in full swing” for its Manila facility.

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350 jobs up for grabs as JTI picks PH as service hub | Inquirer Business

Cigarette giant Japan Tobacco International (JTI) has chosen to put up its regional business service hub in the Philippines.

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

7 years

JUST IN: Latest @TreasuryPh data showed that national government's outstanding debt further rose to a fresh record-high of P6.82 trillion as of end-February, partly due to peso depreciation @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

READ: Recommendations of Ateneo Center for Economic Research and Development + @ateneodemanilau economics department faculty members to arrest the COVID-19 pandemic’s impact on PH economy (c/o @AngAlvin ) @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Last Thursday, @SecSonnySays sent a copy of the Duterte administration’s four-pillar socioeconomic strategy against COVID-19. Read below 👇

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

The DOF today issued a press release—“DOF says ‘off-the-mark’ forecast by analysts unduly raised inflation expectations this year”. So we checked the forecasts of its chief economist, highly respected Usec. Gil Beltran—but they were mostly off-the-mark, too.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

Tolentino: “Dapat baliw tayo sa research,” as R&D now accounted for only 1/10% of GDP @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

How can Philippines attract massive FDI like that of Samsung in Vietnam? Albay Rep. Salceda says CREATE bill to grant the President “superpower” to give away flexible tax + non-tax perks to investors, upon vetting by FIRB (DOF, DTI and NEDA Secretaries)

President’s ‘superpower’ seeks to lure elephant-sized investments | Inquirer Business

The proposed Corporate Recovery and Tax Incentives for Enterprises Act (Create) would give the President a “superpower” granting heftier fiscal and nontax perks to businesses in order to lure them...

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

Story in today’s Inquirer (print + InquirerPlus; can’t find it online hmm) — PCGG Chair Agbayani tells me that P1.2-B worth of recovered Marcos ill-gotten wealth to be sold this month; Agbayani says PCGG to continue selling these assets even with Marcos Jr. becoming PH President.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

LOOK: @TheBCDAGroup converted 2 buildings at the gov’t center in New Clark City into facilities for COVID-19 treatment (photos c/o BCDA president and CEO Vince Dizon) @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

Other @DOF_PH proposals include slapping excise tax on luxury goods, taxes and charges on gaming, repeal of exemptions from 12% VAT, VAT on digital service providers, going after social media influencers @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

Today’s Biz Buzz item (collab with @miguelrcamusINQ ) quotes a tax expert claiming the BIR’s RR 8b has jurisdiction on Megaworld due to a special revenue order on ONETT — same as explained by the taxman in a press release titled “MEGAWORLD” today.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

In a speech this morning, @DOF_PH ’s @SecSonnySays said the Arroyo administration’s NBN-ZTE deal was a “scandalous mismanagement of Chinese financing.” @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

In Biz Buzz today: Bits and pieces contributed by @miguelrcamusINQ and our @InquirerBiz editor @daxINQ revealed what was behind the BIR’s flip-flopping yesterday over today’s supposed “closure order” vs. Megaworld Corp.

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BIZ BUZZ: Flip-flopping BIR | Inquirer Business

The Bureau of Internal Revenue’s (BIR) media advisory sent on Tuesday afternoon surprised journalists covering the taxman for many years—it was the first time, for as long as we can remember, that...

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

READ: @DOF_PH ’s proposed fiscal consolidation plan pitches to defer the personal income tax reduction under TRAIN Law scheduled for 2023-2025. Usec. Brion says individual taxpayers’ lower rates to resume in 2026, under their proposal @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

At yesterday’s Senate hearing on proposed 2019 budget, @DOF_PH ’s @SecSonnySays said gov’t may incur “very large” deficit if fiscal provisions of draft federal constitution is adopted. “What will happen to our credit rating?” Sen. Recto asked. “Oh, it will go to hell,” he replied.

@inquirerdotnet

Inquirer

@inquirerdotnet

6 years

Today's Inquirer front page. (Aug. 9, 2018) #INQFrontPage More at 📰📲

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

To be fair, @NEDAhq never said that a Filipino family of 5 can live on just P10,000 a month. Watch the press conference, please 😒🙄🤦🏻‍♂️

@inquirerdotnet

Inquirer

@inquirerdotnet

6 years

Outraged workers tell Neda execs: Try living on P10K a month | @JLeonenINQ

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

3 years

READ: Here’s @WorldBank Philippines office’s statement on the controversial education report — the lender apologized for “earlier than scheduled” publication such that DepEd didn’t provide inputs. (But did it retract the report’s findings? Read between the lines...) @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Asked to comment on ABS-CBN’s closure, economist and former @NEDAhq Secretary Ernesto Pernia tells @InquirerBiz : “A legitimately liberal media network is an important aspect of a market economy like the Philippines”

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

3 years

Citing the BIR, @DOF_PH ’s @SecSonnySays : Marcos estate administrators have not paid estate tax despite the BIR trying to collect and demanding payment, as some cases against the Marcoses still pending litigation. @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

READ: @DOF_PH ’s @SecSonnySays issued implementing rules and regulations for mandatory 30-day grace period on all loans with principal/interest falling due during the COVID-19 quarantine, under RA 11469 or Bayanihan to Heal As One Act @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

Here at Senate finance committee hearing on proposed 2019 NEDA budget... Senator: The (September) inflation rate you will announce on Friday is 6.9%? Secretary Pernia: It is embargoed. Senator: Puwede naman ninyo ibulong sa akin mamaya... 😆

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

Commute between Blumentritt, Manila and Clark International Airport in Pampanga would be slashed to less than 1 hour when the 53.1-km Malolos-Clark Railway Project starts operation in 2022, thanks in part to a $2.75-billion loan to be extended by @ADB_HQ .

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Investor Relations Office: Japan Credit Rating Agency upgraded the Philippines’ credit rating to “A-“, with a “stable” outlook, from “BBB+” @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

For @DOF_PH ’s @SecSonnySays , mass testing for COVID-19 “is a must” if the Philippines wanted the pain inflicted by the disease on both the health care system and the economy to go away.

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Dominguez: Mass COVID-19 tests ‘a must’ | Inquirer Business

President Rodrigo Duterte’s chief economic manager said mass testing for COVID-19 is “a must” if the Philippines wanted the pain...

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

BIR Deputy Commissioner Arnel Guballa: Naisara po natin ang isa sa pinakamalaking POGO service providers at nakalabas na ang kanilang mga Chinese workers. Isinara natin ito dahil hindi sila nagbabayad ng buwis. @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

I asked @SecPernia here in the press conference: Can we blame the Lower House for the budget impasse and slower GDP growth? His answer: Your question answered your question. #PHGDP @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

If the Duterte administration has “Build, Build, Build,” House ways and means chair/Albay Rep. Joey Salceda is pushing for “Tax, Tax, Tax” — “Netflix tax,” “Facebook ads tax,” and “Lazada tax”... Read his proposal here 👇

@inquirerdotnet

Inquirer

@inquirerdotnet

4 years

Salceda told the Inquirer on Monday that he intended to call these new tax measures as “Netflix tax,” “Facebook ads tax,” and “Lazada tax,” respectively. | @bendeveraINQ

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

1 year

Video taken earlier: NLEx southbound past San Fernando toll plaza

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

IMHO, this @InquirerBiz headline best summed it all up.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

. @ADB_HQ is making available $6.5 billion to its developing member-countries (w/c included the Philippines) amid the fight against the COVID-19 pandemic @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

NOW: BIR Deputy Commissioner Arnel Guballa, QCPD serve closure order against unregistered POGO service operator (2nd biggest with 2,000 workers) here in Eastwood. Guballa tells @InquirerBiz BIR also closing down unregistered firms in Parañaque, Subic @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

7 years

JUST IN: @TreasuryPh data showed that outstanding national government debt ended 2017 at record-high P6.652 trillion @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

I think this is worth tweeting: After today's press conference on October inflation, @PSAgovph no longer gave away printed handouts to reporters who covered and instead e-mailed a soft copy of National Statistician Dennis Mapa's script. They're now paperless. :)

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

7 years

READ: Interesting story on how the Philippines/Manila was chosen as @ADB_HQ 's headquarters @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Oxford Economics says the Philippines an “under-spender” relative to COVID-19 risks; Maybank Kim Eng says PH’s fiscal response was “strikingly low”

PH ‘underspending’ vs COVID-19 risks | Inquirer Business

Foreign banks and think tanks have deemed the Philippines’ fiscal response to the COVID-19 pandemic as low compared to other countries in Southeast Asia

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

For 2024, @DOF_PH proposes further higher taxes on “sin” products, petroleum excise, tax on cryptocurrencies, carbon tax @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

“And when the credit rating goes to hell, what happens to the Philippines?” Recto further asked. “Everybody pays higher interest rates” of up to 600 basis points, or about 6 percent, Dominguez answered.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

9 years

Sarah Geronimo joins Richard Yap as Manulife endorser @InquirerBiz http://t.co/2YCTea34MQ

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

2 years

A day after PH’s presidential elections where Ferdinand Marcos Jr. gained the majority of the votes, domestic borrowing rates soared (above 2% for 182- and 364-day T-bills) such that @TreasuryPh raised only P5 billion out of P15 billion it wanted to borrow today @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

. @PSAgovph : Inflation in December 2018 eased to 5.1%, lowest since June 2018's 5.2%. Headline inflation averaged 5.2% for the entire 2018, above the government's 2-4% target range. In 2017, the rate of increase in prices of basic commodities was only 2.9% @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

Asked if CITIRA will abolish PEZA and BPO incentives, @SecSonnySays replied: “Have you read (the bill)? If you read (it), there will be a review of all fiscal incentives, that’s all. There’s a lot of speculation from goddamn ignorant people.” @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

May bagong GMA teleserye pala—ang title: Prima Donnas. Ang istorya raw ay iikot sa tatlong magkakapatid na mga babae: sina Donna Belle, Donna Lyn, at Donna Marie. Kung ako ang writer ng show na ito, dapat ang tunay na ama nila ay isang Teenage Mutant Ninja Turtle: si Donna Tello.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

This means cigarettes would be more expensive by about P10 per pack as excise tax to be jacked up to P45 a pack from P35/pack at present

@NCorralesINQ

Nestor A. Corrales

5 years

BREAKING: Duterte signs higher sin tax for tobacco via @inquirerdotnet

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Since Friday afternoon, @InquirerBiz noticed that @PHLSSS ’s website was down (until now)... just when MSMEs were applying for the small business wage subsidy program. We told @DOF_PH ’s @SecSonnySays about it yesterday, and here’s his response (quoting SSS PCEO Aurora Ignacio):

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@muzkbuff

Nole

4 years

@bendeveraINQ @InquirerBiz Pwede po paki communicate sa SSS o kaya sa IATF mismo na hindi po kami makapag SUBMIT ng application, less than 2 weeks lang (up to April 30) po binigay na palugit ng BIR/SSS para mag apply po kaming employer in behalf of our employees po. "Under Maintenance" po SSS website. TY.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

5 years

JUST IN: BIR today published Revenue Regulations 4-2019, the implementing rules and regulations of the tax amnesty on delinquencies. Deputy Commissioner Marissa Cabreros tells @InquirerBiz that BIR will start accepting applications on April 24.

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

7 years

JUST IN: National Statistician Lisa Grace Bersales: #PHGDP grew 6.6% in Q4 2017; full-year 2017 growth at 6.7% @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

7 years

LOOK: Growth rates of major industries in Q2 #PHGDP @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

A caveat to the relief packages for MSMEs and their workers to be unveiled tomorrow: only businesses that pay employees’ correct withholding taxes to the BIR and remit SSS contributions would be qualified for the wage subsidy program, @InquirerBiz has learned.

@inquirerdotnet

Inquirer

@inquirerdotnet

4 years

Finance Secretary Carlos G. Dominguez III expressed doubt the middle class would get the same dole out program as that for 18 million poor families. | @bendeveraINQ

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

You leave home in Taguig at 7:30 a.m. for 10 a.m. Ortigas coverage. One hour later, you’re not even halfway your destination. Shows economic growth (more private vehicles, delivery trucks of consumer goods) but lack of infrastructure (slow rollout of new roads, highways) #PHGDP

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

LOOK: Upcoming big-ticket transport infrastructure projects to be financed by @ADB_HQ in 2019-2021. The projects include Bataan-Cavite Long Span Bridge crossing Manila Bay @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

We often hear of “ayuda” given away by cities and provinces amid this pandemic, but how were smaller municipalities coping with COVID-19? I asked around, and League of Municipalities of PH president Chavit Singson told @InquirerBiz that they’re having a hard(er) time... 👇

@inquirerdotnet

Inquirer

@inquirerdotnet

4 years

As municipalities are not as resource-rich—especially with taxpayers’ money—unlike their city counterparts, the COVID-19 crisis is pushing the country’s 1,488 towns to the limit. | @bendeveraINQ

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

It was pun, er fun writing this lede: "Amid the summer heat, five owners of four resorts in Pansol, Laguna found themselves in hot water after they were slapped criminal complaints by the Bureau of Internal Revenue..."

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

I already received several text messages and emails — including from some business leaders 😱 — asking for copies of these reports 😅 Read here why Morgan Stanley is bullish about a strong #PHGDP rebound next year 👇

PH economy in for a big comeback in 2021, Morgan Stanley bets | Inquirer Business

Global financial giant Morgan Stanley is bullish about the Philippines’ strong economic rebound next year against a backdrop of low inflation, the government’s infrastructure development push and...

business.inquirer.net

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

Among the upcoming infrastructure projects to be built in Bicol Region is called “DUTERTE”—Daraga Urban Traffic Eco Route 😱

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

7 years

BIR: ROHQ employees’ 15% preferential tax rate on gross income removed under TRAIN Law; now subject to regular income tax rates @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

. @DOF_PH ’s @SecSonnySays , who served as Agriculture Secretary during the Cory Aquino administration, describes the Marcos regime’s Masagana 99: “It was a big headache—900 rural banks were bankrupted by 1986.”

@inquirerdotnet

Inquirer

@inquirerdotnet

4 years

“Ma’am before we go ahead, regarding the Masagana 99. I was Secretary of Agriculture that cleaned up the mess of Masagana 99. There were 800 rural banks that were bankrupted by that program, we had to rescue them," Dominguez said. | @khallareINQ

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

6 years

READ: Former DBM chief Florencio Abad’s comment on joint panel of 2 House committees recommending charges be filed against him, former president Benigno Aquino III and ex-DOH chief Garin in connection with Dengvaxia controversy @InquirerBiz

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@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

Over the weekend, @SecPernia was rumored to be “fired” from @NEDAhq , but he denied it. Asked by @InquirerBiz if he was consulted by Pernia, @DOF_PH ’s @SecSonnySays replied: “No, he didn’t.”

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NEDA chief resigns due to 'differences' with other Cabinet members | Inquirer News

Planning Secretary Ernesto Pernia on Friday announced his decision to step down from his post, citing “personal reasons” and “differences...

newsinfo.inquirer.net

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Ben Arnold de Vera

@benarnolddevera

4 years

After @InquirerBiz published this story 2 weeks ago, @DBMgovph Usec. Lloyd Lao tells Senate finance committee today that they cancelled last Friday P727-M contract for PPEs with a company that shared an incorporator with a blacklisted sole proprietorship.

@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

4 years

In one of the notices of award, a blacklisted company’s address was “Putatan, Mandaluyong, Manila” — but there is no Barangay Putatan neither in Mandaluyong nor Manila 🤷🏻‍♂️ (blacklisted firm’s office address was in Putatan, Muntinlupa...)

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Ben Arnold de Vera

@benarnolddevera

4 years

A story from 2015 when Chua was still with @WorldBank ’s Philippine office. Back then, he had already been pushing to jack up oil excise taxes... which eventually happened under the TRAIN Law in 2018—part of the comprehensive tax reform program whose lobby he led.

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Ben Arnold de Vera

@benarnolddevera

7 years

Peso today opened at 49.94:$1 @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

5 years

. @DOF_PH 's @SecSonnySays : I have instructed [the state-run pension funds] GSIS and SSS to take advantage of the low stock prices as well as to support the stock market by at least doubling their daily average purchase volumes of last year. @InquirerBiz

@Philbizwatcher

DorisDumlao-Abadilla

@Philbizwatcher

5 years

PSE’s circuit-breaker triggered in early trade amid another day of bloodbath ⁦ @InquirerBiz ⁩

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Ben Arnold de Vera

@benarnolddevera

3 years

BSP takes the pulse of businesses quarterly through its Business Expectations Survey or what biz reporters call as “BES”. If BSP will conduct its survey in NCR Plus today, it can be called “BESHIE” — Business Expectations Survey Habang In ECQ 🤔🙃😬

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Ben Arnold de Vera

@benarnolddevera

4 years

. @DBMgovph yesterday issued Budget Circular 2020-4 raising pay of entry-level nurse 1 to salary grade 15 (around P14,000) from SG 11 at present (about P11,000). Secretary Avisado says this circular “effective not earlier than Jan. 1, 2020.” @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

4 years

. @DOF_PH ’s @SecSonnySays : “Even though we had the bad luck to have this COVID-19, we are financially able” to not only contain the disease but also arrest its economic fallout.

Dominguez: PH ‘financially able’ to arrest economic fallout | Inquirer News

The Philippines has enough resources to tackle the pandemic head-on with its P1.17-trillion war chest to help vulnerable sectors and front-line health-care workers, and to prop up the economy, the...

newsinfo.inquirer.net

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Ben Arnold de Vera

@benarnolddevera

4 years

As the government ramped up borrowings to finance COVID-19 response, National Treasurer Rosalia de Leon said the 2020 debt-to-GDP ratio (base year 2018) will rise to 44.95%, comparable to the earlier DBCC projection of 46.7% (base year 2000). Adjusted 2019 debt ratio = 39.6%.

@InquirerBiz

Inquirer Business

4 years

National government debt rose slightly in March to P8.18 trillion, or twice the national budget in 2020, as an increase in domestic borrowing that month offset payments made on foreign loans. | @bendeveraINQ

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Ben Arnold de Vera

@benarnolddevera

5 years

Ateneo economics professor Alvin Ang: Don’t be surprised if inflation hit 1% year-on-year in September and October due to (high) base of last year @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

3 months

12 years back, reported live on TV (at midnight!) about a man killed by lightning w/c struck his nipa hut by the river 😢 graveyard TV reporting duty’s hard work, roving around the metro’s police stations and brgy halls to look for crime stories… so I returned to the biz beat 😅

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Ben Arnold de Vera

@benarnolddevera

6 years

LOOK: Year-on-year inflation rates during the last six years @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

7 years

JUST IN: @PSAgovph ’s January 2018 Labor Force Survey showed that unemployment rate at start of the year declined to 5.3% from 6.6% a year ago, but underemployment rate up 18% from 16.3% last year @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

5 years

A confidential memorandum from the Office of the President dated Aug. 27 ordered the suspension of all negotiations and signing of loan/grant agreements with the countries which voted in favor of the UNHRC resolution last July 11. via @inquirerdotnet

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Duterte order shuns all loans, grants, aid from 18 countries backing probe of PH killings

The Philippine government has shunned any financial assistance from countries that called for a probe of the summary killings in the country.

business.inquirer.net

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Ben Arnold de Vera

@benarnolddevera

3 months

Heard through the grapevine: Top Palace comms official just recently tendered courtesy resignation, but her Big Boss did not accept it…

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Ben Arnold de Vera

@benarnolddevera

7 years

NOW: Day 2 of public consultations on draft guidelines of TRAIN Law moved to bigger venue—ABS-CBN Vertis Tent. BIR Commissioner Dulay said 1,700 people attended yesterday’s consultations. To be discussed today are provisions on VAT, excise tax on cosmetic procedures @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

3 years

Landbank president and CEO Cecille Borromeo tells @InquirerBiz that UCPB is now a subsidiary of Landbank, but the two GFIs haven’t merged yet. She says their merger expected by Q1 of 2022.

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Ben Arnold de Vera

@benarnolddevera

6 years

Wondering why the release of August inflation report last week was delayed by over 1 hour? Had not @NEDAhq 's @SecPernia spotted a miscalculation, the (wrong) figure would have been a higher 6.6% (matching March 2009's) via @inquirerdotnet

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Ben Arnold de Vera

@benarnolddevera

4 months

Philippines Inc. supports the Philippine armed forces 🫡

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Ben Arnold de Vera

@benarnolddevera

4 years

If you bought premyo bonds last December and your investment bears any of these two NRoSS account numbers... you just won P1 million and a house-and-lot! @TreasuryPh today held premyo bonds raffle draws for Q1 and Q2, w/c had been delayed due to COVID-19 quarantine @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

6 years

1st question I threw to Speaker Arroyo was: “You’re being rumored to be DOF Secretary next year,” to which she replied: “That’s so hypothetical.” I asked again if she was offered the post, will she accept it? She repeated her earlier reply: “That’s so hypothetical.” @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

5 years

NOW: BIR officials inside premises of POGO service provider New Oriental Club 88 Corp. in Parañaque City. BIR Deputy Commissioner Arnel Guballa said company/main office was registered in Makati but this facility and others in Paranaque were unregistered @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

5 years

. @ADB_HQ board has OKd biggest-ever financing for the Philippines—$2.75-billion loan for construction of P53.1-kilometer Malolos-Clark Railway Project, says @ADBPhilippines country director Kelly Bird @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

6 years

A day in the life of a reporter: You text a source while at an airport. You missed his call. You call him back (long distance huhu) and talk for an hour while you check-in your luggage and try to catch your flight ( @maureensimeon took a photo w/c didn’t quite show me stressed)...

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Ben Arnold de Vera

@benarnolddevera

5 years

And here’s ING Bank Manila senior economist Nicky Mapa’s take 👇🏼 (I received his reply after my deadline though 😅)

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Ben Arnold de Vera

@benarnolddevera

3 months

We’ve also heard that Maharlika President and CEO Joel Consing himself pays their current (very lean) staff out of his own pocket, while the investment fund’s officials are still “abonado” and haven’t been receiving compensation…

@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

3 months

Heard there’s some pressure for the Maharlika Investment Corporation to deliver something that President Marcos can boast of in his next SONA on July 22… but as @maureensimeon reported last week, the sovereign wealth fund is stuck in bureaucratic red tape

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Ben Arnold de Vera

@benarnolddevera

3 months

A kind Ilongga lady told me that the only PAL Mabuhay Lounge which serves batchoy is, of course, here in Iloilo International Airport 😋 She said its supplier’s a well-known batchoy resto in town 👌 But after I put some eggs, the lady scolded me: “Walang itlog ang batchoy!” 😱😅

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Ben Arnold de Vera

@benarnolddevera

7 years

READ: What provisions of the Tax Reform for Acceleration and Inclusion Act (TRAIN) were vetoed by President Duterte? @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

5 years

Nagmamahal man daw ang presyo ng manok, P99 pa rin itong fried chicken meal dito sa Cathedral Food Avenue! Unli rice, free juice, plus your choice of (unlimited din na) sawsawan—Shanghai/gravy, Indonesian (spicy), or mango.

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Ben Arnold de Vera

@benarnolddevera

2 years

Banks move to declare Davao’s Dennis Uy in default after missed Clark lease payments (story written by our @InquirerBiz news editor @daxINQ )

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Ben Arnold de Vera

@benarnolddevera

7 years

founder Ron Hose notes that more Filipinos have Facebook accounts than bank accounts, as traditional banking “expensive” @InquirerBiz

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Ben Arnold de Vera

@benarnolddevera

2 months

After DTI Secretary Alfredo Pascual resigns…

@benarnolddevera

Ben Arnold de Vera

@benarnolddevera

3 months

Weekend chismis (from very reliable source): Fred Pascual soon to be plucked out of DTI; Arsi Balisacan to DTI; Stella Quimbo to NEDA; Sonny Angara to DepEd 😱🤔🧐

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Ben Arnold de Vera

@benarnolddevera

3 years

BIR issues 2 revenue regulations: (1) RR 14-2021 repealing RR 5-2021 which had limited the preferential tax treatment to non-profit schools; and (2) RR 15-2021, which deferred the implementation of RR 9-2021 that will slap 12% VAT on some exporters’ transactions @InquirerBiz

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