December 01, 2017

News Rundown: November 27 to December 1, 2017

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  • News Rundown: November 27 to December 1, 2017
  • It’s the last month of the year and the last working day of the week! Let’s have a recap of the news and information brought to our attention for this week. Whether it’s an approval of a Tax Reform Bill or the release of a five-peso coin, there will always be news. Let’s take a look at the highlights of the week ending on the first day of December. 

    Senate approves Senate Bill 1592 or Tax Reform for Acceleration and Inclusion (TRAIN)


    Good news! After passing Senate Bill 1592 or Tax Reform for Acceleration and Inclusion (TRAIN) on November 28, 2017, it has now been finalized by the Senate. With the revisions fixed, the bill will have the role of reduced income tax rates for the 7.5 million individual taxpayers. The self-employed Filipinos were also given an 8% flat tax on gross sales or receipts. The Senate have also excluded sugar, milk, tea, and coffee from being taxed.

    Sumitomo to handle MRT3 maintenance in 2018

    A lot of incidents has happened in the past few months regarding MRT. Long gone are the day when we hoped it would be fixed, not we’re not even considering it at all. It was just announced that the original maintenance provider of MRT 3, Sumitomo Corporation, will be handling its maintenance and rehabilitation in 2018 thanks to an agreement between Japan and the Philippines. Papers for the agreement will be signed the third week of December. The maintenance is set to start around April or May.

    Bangko Sentral ng Pilipinas releases 5-Piso New Generation Currency Coins

    The Bangko Sentral ng Pilipinas (BSP) today announced that of the New Generation Currency (NGC) Coin Series, it will release in advance of the other denominations, the five-peso NGC legal tender coin for circulation starting this month. The five-peso NGC coin features Gat. Andres Bonifacio on the obverse. The BSP’s advance release of the five-peso NGC coin highlights the 120th death anniversary of the Filipino patriot this year and his 154th birthday on November 30. Other NGC coins will be released in 2018.

    Jeepney Strike on December 4 and 5, 2017

    PISTON will be having a strike next week so make sure to be in the loop. As the government planned to phase out of jeepneys a lot of drivers have appealed and complained. Just last October they also held a two-day strike which made Malacanang cancel classes and work in government offices nationwide. News of suspension of classes or goverment work as of today. Let’s just hope that the entire Philippines wont’ be affected.


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