News Rundown: December 11-15, 2017
Be in the know! Here are some news that made it to the headlines and other noteworthy stories you may have missed this week.
Congress ratifies tax reform bill
IMAGE House of Representatives of the Philippines Facebook page
Congress on Wednesday ratified the Tax Reform for Acceleration and Inclusion (TRAI) bill, also called tax reform bill. Once implemented in 2018, the bill will lower the personal income taxes of people earning Php 250,000 and below annually, raise tax exemption for the 13th Month Pay and other bonuses up to Php 90,000, and increase taxes on petroleum products, sweetened beverages, automobiles except electric cars, cosmetic procedures, coal, and tobacco.
BSP releases new peso bills with enhanced design
IMAGE Bangko Sentral ng Pilipinas Facebook page
The Bangko Sentral ng Pilipinas (BSP) has released New Generation Currency (NGC) banknotes with new designs that are said to highlight the nation’s history, heritage sites, and natural wonders.
The most prominent change made is on the 200-peso bill, which now depicts the Declaration of Philippine Independence and Opening of the Malolos Congress on its principal design. Some minor changes were made to texts and name formats on the 20, 50, 100, 500, 1,000, including the 200, peso bills. The new banknotes also bear the signature of the fourth Governor of the BSP, Nestor A. Espenilla, Jr.
Tourist arrivals in PH increased by 11.54%
Recent data released by the Department of Tourism (DOT) shows that tourist arrivals in the Philippines have increased by 11.54% from January to October this year.
South Koreans are the country’s top visitors with 1.3-million arrivals, followed by Chinese tourists with more than 800,000 arrivals this year. Other top visitors of the Philippines come from the US, Japan, and Australia.
Major parks in Makati’s Legaspi Village to re-open soon
IMAGE Make it Makati Facebook page
Makati’s campaign promotional arm, Make it Makati shared on its Facebook page photos that give a preview to the newly renovated Washington Sycip Park and Legazpi Active Park, two of Legaspi Village’s major recreational parks. There are no dates given yet, but seeing the finished work in the two adjacent parks, we can assume that we might be able to jog, bike and play again at these parks in early 2018.
Sources: Make it Makati Facebook page, Inquirer.net, ABS-CBN News, Bangkok Sentral ng Pilipinas, Department of Tourism website
Images grabbed from: Make it Makati Facebook page, House of Representatives of the Philippines Facebook page, Bangko Sentral ng Pilipinas Facebook page
