News Report 29 August 2018 Local
1. Measures to mitigate inflation OK’d The Philippine Star, 29 August 2018, p. 6
The Duterte administration has approved measures that will lower the prices of basic commodities in a bid to address inflation without reducing import tariffs on fish and meat products.
Presidential Spokesperson Harry Roque said the inflation mitigation measures are the following:
allowing the importation of galunggong (round scad), temporary suspension of Special Safeguard Measures (SSM) for chicken meat imports; and close monitoring of the importation of minimum access volume (MAV) for pork.
2. Crimes against humanity case vs Duterte won’t prosper Manila Bulletin, 29 August 2018, p. 1, continued on p. 6
Malacañang is optimistic that the latest communication filed against President Duterte for alleged crimes against humanity before the International Criminal Court (ICC) would not prosper. The families of extra-judicial killings (EJK) victims have reportedly accused the President of committing crimes against humanity in the communication filed before the ICC.
Presidential Spokesman Harry Roque pointed out that the international court could only investigate and prosecute international crimes when local courts are unwilling to do so.
3. South China Sea exploration pact shaping up Manila Bulletin, 29 August 2018, p. 3
Foreign Affairs Secretary Alan Peter S. Cayetano Tuesday he is looking forward to a joint Philippine- China gas and oil exploration agreement in the disputed areas in the South China Sea, „‟hopefully‟‟
in the next two months.
He further said that the 60-40 sharing, based on a provision of the Philippine Constitution on investments, will be followed. We are working on a framework for the Philippines and China. The 60-40 agreement has been likened to the Philippine-Malampaya gas royalty agreement with Shell.
Korea -
Economic
4. Trabaho worries US firms in PH
Philippine Daily Inquirer, 29 August 2018, p. B3
According to the position paper of the American Chamber of Commerce of the Philippines
(AmCham), More than half of American companies in the country warned they would not expand their operations if the government would insist on the scheduled transition to a new tax regime under the second package of the tax reform program.
5. Dominguez presses Congress on passage of tax reforms Philippine Daily Inquirer, 29 August 2018, p. B6
Finance Secretary Carlos G. Dominguez III reiterated the call for Congress to pass the
comprehensive tax reform program by yearend or the country risks slowing economic growth.
The Tax Reform for Attracting Better and High-quality Opportunities Act or so-called “Trabaho” bill approved by the House ways and means committee this month would result in foregone revenues of about P62 billion as it aims to automatically cut the corporate income tax rate to 28 percent by 2021 without conditions. The Department of Finance said that “it will be in the best interest of our country” to have a revenue-neutral tax package.
