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By Michael Vencynth H. Braga | September 8, 2015 - 10:00am
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The Bureau of Internal Revenue has secured clearance from the Department of Justice for the filing of 44 criminal tax cases against the so-called BGC Boys or Bulacan Group of Contractors – former officials implicated in the flood control scandal – over alleged tax liabilities exceeding P1.68 billion.
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The government swung back to a budget deficit in May as revenues declined amid the early remittance of dividends by state-owned agencies, while spending increased, the Bureau of the Treasury said.
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The value of the country’s key mineral reserves rose to over P580 billion last year on the back of higher Class A gold reserves, according to the Philippine Statistics Authority.
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Interior Secretary Remulla called on Congress to strengthen gun control laws in the country following the deadly Tacloban school shooting incident.
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The Philippine Economic Zone Authority has approved P97 billion worth of renewable energy (RE) investments, reflecting confidence in the country’s energy sector.
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