Local news

March 10, 2015
Daily Star by Carla Gomez | http://goo.gl/DPgNvT
 

A Department of Agrarian Reform official yesterday denied that the DAR made a list of 44 members of Congress opposed to House Bill No. 4296, that would extend the 27-year-old Comprehensive Agrarian Reform Program for another two years, on the basis of personal motives.

It only came up with a list of those who would possibly oppose the bill, DAR Undersecretary for Legal Affairs Luis Meinrado Pañgulayan said in a DAR statement.

March 9, 2015
Sun Star by Teresa Ellera | http://goo.gl/lrHtHg

NEGROS Occidental Third District Rep. Alfredo Benitez said the Visayan Bloc at the House of Representatives is opposing the Revenue Regulation 11-2014 that imposes one percent withholding tax on raw sugar, including molasses.

Rep. Stephen Paduano of Abang Lingkod party-listduring the Visayan Bloc meeting last March 3 said majority of the members said they are against the RR 11-2014, and they will take it up in the House.

March 4, 2015
Daily Star by Carla Gomez | http://goo.gl/cCgDq0

Sugar Regulatory Administrator Ma. Regina Martin yesterday said Bureau of Internal Revenue Commissioner Kim Henares is still reviewing a revenue memorandum circular that, hopefully, will address concerns raised by industry stakeholders on the imposition of a one percent creditable withholding tax on raw sugar and molasses.

“We hope the revenue memorandum circular can solve the issues and concerns raised,” she said.

March 4, 2015
Sun Star by Carla Canet | http://goo.gl/2Brs2l

BACOLOD City Mayor Monico Puentevella said on Tuesday that he plans to meet with Bureau of Internal Revenue (BIR) commissioner Kim Henares on Thursday to discuss the tax woes of the small sugar planters in Negros Occidental in relation to the implementation of Revenue Regulation 11-2014.

RR 11-2014 imposes one percent creditable withholding tax on the release of raw sugar.

March 2, 2015
Daily Star by Modesto Sa-onoy | http://goo.gl/oz4Xds

Not even champion Manny Pacquiao and the millions of pesos and international fame he brought to the country can sway the Bureau of Internal Revenue commissioner Kim Henares to set aside the law.

March 2, 2015
Daily Star by Carla Gomez | http://goo.gl/07aMh4

Sugar leaders are asking for a moratorium on the imposition of Revenue Regulation 11-2014 so a win-win solution can be reached, at a dialog to be held at the Bureau of Internal Revenue Region 12  office in Barangay Taculing, Bacolod City, at 1:30 p.m. today.

February 27, 2015
Business World by Krista Montealegre | http://goo.gl/xGw9yH

FIRST PACIFIC Co. Ltd. completed the infusion of fresh capital amounting to P1.7 billion into Roxas Holdings, Inc. (RHI), effectively gaining control of the local sugar company.

RHI told the stock exchange First Agri Holdings Corp. (FAHC) purchased 241.78 million treasury shares of the listed company on Friday at P7 per share. FAHC is a subsidiary of Hong Kong-based First Pacific.

February 27, 2015
Manila Standard Times by A. Rimando | http://goo.gl/Xn1kaO

ZAMBOANGA CITY, Zamboanga Sibugay—Second district Rep. Lilia Macrohon-Nuno on Thursday asked for a full-blown investigation on the disappearance of close to 60 tons of smuggled sugar, worth over P2.5 million, allegedly under the custody of the Bureau of Customs district office here.

February 25, 2015
Sugaronline | http://goo.gl/I9mcZu
 

The Bureau of Internal Revenue (BIR) is killing the sugar industry in its continued holding of the authority to release sugar (ARS) despite the payment of the questioned 1% tax on gross product it imposed on sugar producers' cooperatives, according to the Philippines' Sun Star Bacolod newspaper.

February 22, 2015
Business World by Krista Montealegre | http://goo.gl/L1hXbP

FIRST PACIFIC Co. Ltd. is set to infuse fresh capital into Roxas Holdings, Inc. (RHI), allowing the Hong Kong-based conglomerate to gain control of the sugar miller and refiner.

First Pacific Managing Director Manuel V. Pangilinan said the company will raise its stake in RHI to 51%.