Connect with us

Hi, what are you looking for?


Marcos certifies 2023 budget bill as urgent 


Philippine President Ferdinand R. Marcos, Jr. on Monday certified as urgent the proposed P5.268-trillion national budget for next year, citing the need for continuous government operations. 

In a letter to Speaker Ferdinand Martin G. Romualdez, the president said passing the budget bill on time would also allow the state to “respond more effectively to the COVID-19 pandemic and support initiatives toward national economic recovery.” 

The certification allows the House of Representatives to approve the budget bill on second and third reading on the same day. 

“We are right on track with our schedule,” Mr. Romualdez said in a separate statement, adding that congressmen would probably approve the measure on Wednesday. 

Also yesterday, the House passed on final reading a bill that seeks to modernize tax administration and improve tax compliance. 

It  unanimously approved House Bill 4125 or the proposed Ease of Paying Taxes Act, which will simplify the filing of tax returns for small taxpayers. 

The measure will introduce a medium-sized taxpayer classification and create a special unit in the Bureau of Internal Revenue that will focus on improving taxpayer services. 

It will also remove the distinction between sales invoices and official receipts, legislate taxpayers’ bill of rights and do away with the P500 annual taxpayer registration fee. 

Congressmen also passed on final reading House Bill 5001 or the Free College Entrance Examinations Act. 

The measure mandates all private higher education institutions to waive college entrance exam fees for poor graduating high school students and graduates who belong to the top 10% of the graduating class. — Matthew Carl L. Montecillo and Kyanna Angela Bulan 

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



REUTERS BEIJING — China posted another record high coronavirus disease 2019 (COVID-19) infections on Monday, after an extraordinary weekend of protests across the country...


The Makati skyline is seen in the background in this file photo. — PHILIPPINE STAR/ MICHAEL VARCAS MANILA — Philippine economic growth may ease...


Rendering of China’s Tiangong Space Station. — WIKIMEDIA COMMONS SYDNEY — Rapid advancements in China’s military capabilities pose increasing risks to American supremacy in...


REUTERS SYDNEY — Australia lowered its terrorism threat level on Monday to “possible” from “probable” for the first time in eight years, citing a...


Mexican President Andres Manuel Lopez Obrador. — Andres Manuel Lopez Obrador/Facebook MEXICO CITY — Tens of thousands marched with Mexican President Andres Manuel Lopez...


PRAVEEN KUMAR NANDAGIRI/UNSPLASH OTTAWA — Canada launched its long-awaited Indo-Pacific strategy on Sunday, outlining C$2.3 billion ($1.7 billion) in spending to boost military and...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.