Category: Business Mirror

THE Bureau of Internal Revenue (BIR) released P23.67 billion in tax refunds in the first nine months of the year to aid taxpayers and businesses amid higher operating costs and a prolonged energy crisis.

Refunds from January to September 2025 rose 90.6 percent from P12.42 billion in the same period last year, according to a BIR statement issued on Friday.

Under the National Internal Revenue Code and various BIR issuances and regulations, the Commissioner of Internal Revenue may credit or refund taxes that are erroneously or illegally paid, as well as excess payments and statutory relief or incentive.

Refundable taxes include value-added taxes, withholding taxes, income tax, excise taxes and other internal revenue taxes.

‘These are lawful refunds due to our taxpayers. Once a refund has been properly evaluated and approved for release, we see no reason to unnecessarily delay it,’ Internal Revenue Commissioner Charlito Martin R. Mendoza said.

The refunds could provide businesses with additional cash for operating expenses and working capital, Mendoza said, as the government seeks to ease pressures on companies while maintaining tax collection efforts.

‘We want to put that money back in the hands of our businesses so they can use it for operating expenses, preserve cash flow, and keep their businesses moving, especially during this energy crisis,’ Mendoza said.

‘Tax administration is not only about collecting what is properly due to the government. We must also return what is properly due to the taxpayer once the claim has been evaluated and approved,’ he added.

For the month of August, the BIR recorded a 0.70 percent year-on-year decline in its collection, down to P248.4 billion from P250.1 billion, mainly due to the higher tax refund paid for the month amounting to P10 billion.

From January to August this year, the BIR collected a total of P2.238 trillion in revenues, up by 4.60 percent from P2.139 trillion in the same period a year earlier.

THE hypothetical 2028 tandem of Vice President Sara Duterte and Sen. Robinhood ‘Robin’ Padilla continues to lead the pairing of Naga City Mayor Maria Leonor ‘Leni’ Robredo and Sen. Paolo Benigno ‘Bam’ Aquino IV.

Nonetheless, its advantage has narrowed substantially, according to the latest Tugon ng Masa (TNM) survey of OCTA Research.

The Duterte-Padilla tandem registered 48 percent of the national voter preference, compared with 36 percent for the Robredo-Aquino tandem, giving the former a 12-percentage-point lead. Another 16 percent of respondents remained undecided.

OCTA pointed out that the 12-point gap is the narrowest recorded between the two hypothetical tandems to date, pointing to a continuing tightening of the potential 2028 matchup.

In previous commissioned surveys conducted in 2025, the gap between Duterte-Padilla and Robredo-Aquino ranged from approximately 20 to 25 percentage points. The latest result therefore represents a substantial reduction in the lead enjoyed by the Duterte-Padilla tandem, according to OCTA.

The survey results provide an early indication that the hypothetical contest could become more competitive as the 2028 elections approach. However, the figures remain a snapshot of voter preferences nearly two years before the scheduled elections and should not be treated as an election forecast.

The latest findings also come amid other signs of movement in the Duterte-Robredo political matchup. In a separate Q2 2026 TNM survey, Duterte led Robredo in a hypothetical presidential head-to-head matchup by 43 percent to 34 percent, a nine-point margin that was down from 11 points in the first quarter. OCTA said the national movement was modest, with Duterte’s support declining while the undecided or uncommitted bloc increased.

The survey data also showed that voter preferences vary depending on the vice-presidential partner paired with each potential presidential candidate. Earlier Q2 results involving Robredo and Sen. Raffy Tulfo versus Duterte and Sen. Imee Marcos, for example, showed Robredo-Tulfo at 45 percent and Duterte-Marcos at 42 percent, a three-point difference that OCTA described as statistically a toss-up given the survey’s margin of error.

For the Duterte-Padilla versus Robredo-Aquino matchup, however, the latest national figures remain separated by 12 points.

The Q2 2026 TNM survey, according to OCTA, was conducted through face-to-face interviews from July 4 to 11 among 1,200 male and female probability respondents aged 18 and above. It has a national margin of error of plus or minus three percentage points at a 95-percent confidence level. Subnational estimates for Metro Manila, Balance Luzon, the Visayas and Mindanao have a margin of error of plus or minus six percentage points.

OCTA described the TNM as an independent, non-partisan and non-commissioned nationwide survey that it conducts regularly and releases as a public service.

With 16 percent of respondents still undecided in the Duterte-Padilla versus Robredo-Aquino hypothetical matchup, OCTA said the latest survey leaves a substantial portion of the electorate outside either tandem. It said the narrowing from the 20-to-25-point margins recorded in 2025 nevertheless marks a notable shift in the relative standing of the two pairings.

OCTA said the figures underscore that while Duterte-Padilla remains ahead in this particular hypothetical contest, the distance between the two tandems has contracted significantly from earlier measurements.

Carlos Yulo’s dominance – just like two years ago in the Paris Olympics – happened just once again in the Aichi-Nagoya 20th Asian Games on Friday in Japan.

After a disastrous qualifying round campaign last Monday that almost eliminated him, the three-time world champion proved to be a winner as he bounced back when it mattered most by scoring 14.599 points in the final to win his second gold medal.

Iran’s Mahdi Olfati settled for silver with 14.533 while Hong Kong’s Ng Ka Ki got the bronze with 14.166.

He finished seventh among eight qualified gymnasts in Monday’s vault qualification after a disastrous landing.

But this time, Yulo made sure he would get his second gold medal after winning the men’s floor exercise gold last Thursday.

Yulo is also set to see action at the parallel bars later Friday.

He gave Team Philippines its second gold medal so far.

A playful yellow character has started appearing around Serendra, BGC, pointing pedestrians toward a new Japanese dining destination coming soon. His name is Torikki, the official mascot of TORIKIZOKU, Japan’s popular Yakitori chain and a Yakitori-ya specializing in freshly grilled chicken skewers.

Designed to be visible during the day and illuminated at night, the Torikki installations feature different poses inspired by the Philippines and Japan. Each carries an invitation to gather:

‘Good Times, This Way.’

‘From Group Chat to Group Table.’ ‘Traffic Can Wait.’

Each installation also features a QR code that guests can scan to visit the TORIKIZOKU Philippines website, receive updates, and make a reservation. The signages mark the beginning of the countdown to TORIKIZOKU’s first Philippine restaurant, opening on October 12, 2026, at Serendra, BGC.

Founded in Osaka in 1985, TORIKIZOKU has grown to more than 600 stores across Japan and continues to expand its Global YAKITORI Family internationally. The brand is known for freshly grilled Yakitori, carefully selected ingredients, welcoming service, and a lively atmosphere where people can gather comfortably over food and conversation.

In the Philippines, that spirit of gathering comes to life through ‘Toriki Tayo’, a local invitation to turn everyday moments into opportunities to come together.

See Torikki around Serendra, scan the QR code, and follow where he leads. From group chat to group table, TORIKI TAYO.

TORIKIZOKU Philippines opens on October 12, 2026, at Serendra, BGC, Taguig City.

Be among the first to experience TORIKIZOKU’s authentic Yakitori-ya experience at Serendra.

Justine Gumbao and Julius Otoc stamped their class in the Palawan Pawnshop’s Kidapawan City Juniors Age-Group Tennis Championships, powering to a combined six titles and emerging as the standout performers of the week-long Group 2 tournament at the Kidapawan courts.

Gumbao was particularly dominant, sweeping the girls’ 14-and-under and 16-and-under singles crowns before adding two doubles titles for a rare four-title haul.

The top seed in the girls’ division overwhelmed Chandra Felecio, 6-1, 6-3, in the 14-and-under final, then dispatched Marxian Sira, 6-1, 6-0, for the 16-and-under championship. She dropped just 11 games in six singles matches across the two age groups.

Gumbao completed her four-title sweep in doubles, teaming up with Kathryina Makabangit to whip Sabrina Esiderio and Maurin, 8-1, for the 14-and-under crown. She later paired with Clar to rout Gorre and Sira, 8-2, in the 18-and-under final.

Otoc matched Gumbao’s dominance in the boys’ division, collecting the 16- and 18-and-under singles titles to share MVP honors. He overwhelmed recent Isulan, Sultan Kudarat leg winner Kresthan Belacas, 6-1, 6-1, in the 16-and-under final before turning back Kyle Ramos, 6-4, 6-2, for the 18-and-under title.

Otoc and Belacas joined forces in the boys’ 18-and-under doubles, beating Kurt Alcantara and Krisnel Batilo, 8-1.

Kirsten Mae Gorre beat Camille Clar, 6-2, 6-2, for the girls’ 18-and-under title, while Belacas defeated AJ Rabino, 6-3, 6-2, in the boys’ 14-and-under final.

Christine Ann Teposo blanked Aleushia Maurin, 6-0, 6-0, for the girls’ 12-and-under plum, and Andrei Domasing beat Peter Cabaña, 6-7(4), 7-5, 6-3, in a thrilling boys’ 12-and-under championship duel. In the boys’ 14-and-under doubles, Rafael Pascua and Rabino defeated Yuki Menoza and Philmanuel Palmones, 8-1, to claim the title.

The Kidapawan stop capped another three-leg swing through Mindanao, following earlier tournaments in Davao del Sur and Sultan Kudarat, as the talent-search continues to provide young players with competitive matches and a pathway to higher-level tennis. The Group 2 tournament was held under the Palawan Pawnshop talent-search initiated by president and CEO Bobby Castro and sanctioned by Philta and Universal Tennis Rating. It was supported by Icon Golf and Sports and the Palawan Group of Companies.

THE upcoming P60 wage hike in Metro Manila may not translate into a much-needed lift in consumer spending, with Filipino households expected to remain cautious amid economic uncertainty, according to ANZ Research.

In its latest economic outlook report for Asia, the research arm of Australia-based ANZ Banking Group Ltd. cut its 2026 growth forecast for the Philippines to 3.5 percent from 3.9 percent.

If realized, this would put growth at the lower end of the Development Budget Coordination Committee’s (DBCC) recalibrated target range of 3.5 to 4.5 percent for the year.

‘Even if wages pick up, Filipino consumers are unlikely to raise spending proportionately and will likely prefer to save amid heightened uncertainty,’ ANZ Research said.

The Department of Labor and Employment (Dole) has earlier noted that a P60 increase in the daily minimum wage for workers in Metro Manila is scheduled to take effect by September 26.

It is expected to directly benefit up to 1.1 million workers.

The latest data from the Philippine Statistics Authority (PSA) showed household consumption grew by just 2.8 percent in the second quarter, the slowest pace since the pandemic-induced contraction in the first quarter of 2021, when household spending fell by 4.8 percent.

Excluding the pandemic period, the second-quarter growth in household consumption was the weakest since the third quarter of 2010, when it expanded by 2.6 percent.

The weak household spending, in turn, pushed the country’s second quarter growth to a mere 2.3 percent, slower than the 2.8 percent recorded in the first quarter and the 5.4 percent in the same period last year.

ANZ Research said a broader recovery in economic activity, including a revival in government infrastructure spending, will be needed to support household consumption.

‘The government expects infrastructure spending to pick up in [the second half], though we are more skeptical,’ it said.

Government capital spending has remained in contractionary territory amid increased scrutiny over budget disbursements.

While the Department of Budget and Management had released 99.5 percent of the budget allocated to the Department of Public Works and Highways by end-August, ANZ Research said the actual amount disbursed will be ‘crucial’ to sustaining economic momentum in the coming months.

Official data showed DPWH had received P527.7 billion, or 99.5 percent, of its P530.1-billion allotment as of end-August.

ANZ Research also flagged weaker government infrastructure support next year, with total capital outlays in the 2027 budget estimated at P1.3 trillion, equivalent to 4 percent of GDP.

This would mark the third consecutive year of decline in capital outlays as a share of GDP and the lowest allocation since 2016, it added.

‘As a result, even though the pending funds from 2026 budget will provide a push to domestic activity, adequate support from infrastructure spending will likely be missing in 2027,’ it said.

The Philippine economy grew by just 2.6 percent in the first half of 2026, sharply slower than the 5.4-percent expansion recorded in the same period last year.

In the near term, ANZ Research said exports, particularly those benefiting from sustained demand for electronics, are expected to provide the main support to economic growth.

Earlier, the Department of Economy, Planning, and Development (DepDev) said the economy needs to grow by an average of 4.4 percent in the second half to reach the lower end of the government’s growth target.

THE government utilized 92.7 percent of its cash allocations as of the end of August, slower than a year ago, according to the Department of Budget and Management (DBM).

Of the P3.624 trillion in notice of cash allocations (NCAs) released by the DBM from January to August, P3.360 trillion was used by the entire government, latest data from the DBM showed.

The year-to-date utilization rate was lower than the 93.8 percent recorded in the same period last year, when P3.147 trillion of the P3.356 trillion in NCAs released had been utilized.

NCAs are disbursement authorities issued by the DBM to cover the cash requirements of the operations, programs and projects of government agencies.

A higher NCA utilization rate reflects the capacity of state agencies to timely disburse their allocated funds and implement their programs and projects.

Broken down, line departments deployed P2.214 trillion of the P2.471 trillion in NCAs released to them from January to August, equivalent to an 89.6 percent NCA utilization rate. No agency recorded a 100 percent utilization rate as of end-August.

The Commission on Audit and Commission on Human Rights posted the highest utilization rate among departments at 99.6 percent, while the Office of the President had the lowest utilization rate at 68.4 percent.

Among the biggest NCA recipients, the Department of Education received P569.197 billion and utilized 93.2 percent of the amount, while the Department of Public Works and Highways received P413.689 billion and posted a 78.4 percent utilization rate.

As for NCAs released as budgetary support to government-owned and -controlled corporations amounting to P199.195 billion, P197.786 billion was utilized, translating to a 99.3 percent utilization rate.

Moreover, NCAs released for allotment to local government units reached P953.114 billion, of which 99.5 percent or P948.108 billion was utilized.

Enchanted Kingdom, the first and only world-class theme park in the Philippines, brought lolos and lolas together with their loved ones for a weekend filled with shared entertainment, exclusive treats, and quality family bonding at Fiesta ng Pagmamahal: A Grandparents Celebration on September 12 and 13.

The two-day festivities were part of the theme park’s Love Saribuhay campaign this quarter, which highlights the beauty of the biodiversity of the Philippines, through its people and the iconic Filipino values of love, respect, loyalty, togetherness, and family solidarity. The event specifically paid tribute to grandparents, placing a special spotlight on their enduring role in Filipino families as pillars of wisdom and guidance who nurture strong bonds across generations.

On top of EK’s over 30 rides and attractions, families had the opportunity to bond over the screenings of beloved Filipino films that portrayed heartwarming stories of family, love, and enduring relationships. The movie lineup featured three VIVA Films titles, namely Unforgettable, Miss Granny, and Hating Kapatid, which were screened on both days at Eldar’s Theater.

EK also treated the grandparents to well-deserved pampering and relaxation through complimentary wellness services, including hair care, head and shoulder massages, and scalp treatments on September 13. Additionally, they received free medical and health consultations conducted in partnership with Unihealth – Sta. Rosa Hospital and Medical Center, Inc.

The celebration of Philippine biodiversity continues at EK as it builds up to its 31st anniversary, with more events and offerings happening at Fiesta ng Saribuhay this October.

For more information and updates on this and EK’s upcoming 31st anniversary events and offerings, visit https://www.enchantedkingdom.ph and EK’s official social media accounts @enchantedkingdom.ph for Facebook and TikTok, and @ek_philippines for Instagram.

RICE arrivals rose to nearly 3.9 million metric tons (MMT) as of mid-September, surpassing the total level of imports in 2025, based on the latest government data.

Figures from the Bureau of Plant Industry (BPI) showed that rice imports already reached 3.89 MMT as of September 17, exceeding the 3.39 MMT total shipments recorded last year.

Agriculture Assistant Secretary Arnel de Mesa said the additional rice imports would ensure stable supply and retail prices amid the threats of El Niño on local production.

‘We need to have enough volume of rice in the country-both local and imported-so that retail rice prices will not spike next year,’ De Mesa told reporters in a media briefing on Thursday.

With El Niño forecast to persist through the first half of 2027, he earlier explained that this would affect the country’s dry season harvest around March or April.

Unlike last year, De Mesa noted that the Department of Agriculture (DA) did not impose an import freeze on rice as part of government preparations for the dry spell’s impact on the farm sector.

‘To those saying that we shouldn’t import, it’s a bit difficult because we are expecting a big problem due to El Niño,’ he said.

In 2025, the government imposed a four-month rice import ban to prevent a plunge in farmgate prices of paddy rice amid ample harvest and the absence of El Niño.

‘Our policy adjusts according to conditions that can affect inflation, supply, volume, and the overall condition of our country,’ he added.

The DA expects rice imports to reach around 5 MMT this year. If the outlook materializes, this would exceed the all-time high shipments of 4.81 MMT in 2024 when the country was also struck with El Niño.

In terms of production, the agency expects to lose 700,000 metric tons (MT) of rice output due to the dry spell, which is lower than the actual 1 MMT loss in rice production in 2024. ###

September is part of the rainy season in the Philippines, a time when pagkaing pang-ulan – warm, hearty dishes enjoyed on rainy days – are especially popular. Chicken features prominently in many of these dishes and has long been a familiar part of Filipino cuisine and a popular choice among consumers.

But its importance extends far beyond seasonal menus. Chicken consumption in the Philippines continues to grow and, according to USDA forecasts, is expected to reach around 2.38 million tonnes in 2026. Rising demand is being met by increasing domestic production, complemented by imports, including supplies from the European Union.

Rising demand drives the poultry market

Growing chicken consumption in the Philippines is going hand in hand with higher domestic production. According to the USDA Foreign Agricultural Service in Manila, chicken consumption in the Philippines was estimated at 2.236 million tonnes in 2025, up from 2.060 million tonnes a year earlier – an increase of around 8.5%.

Figures from the Philippine Statistics Authority also point to clear growth in domestic production. In the fourth quarter of 2025, poultry production reached 858.36 thousand tonnes, up 8.9% year on year. Chicken, which accounted for 71.5% of total poultry production, increased by 9.4% over the same period.

A growing market draws on multiple sources of supply

Alongside rising domestic production, imports provide an additional source of supply for the Philippine market. According to the Bureau of Animal Industry, the Philippines imported 540.5 thousand tonnes of chicken meat in 2025, 14.47% more than a year earlier. EU countries are also among the Philippines’ international suppliers. European Commission data show that 67.3 thousand tonnes of poultry were exported from the EU to the Philippines in 2025, up from 41.3 thousand tonnes the previous year – an increase of more than 63%.

Poland was the largest EU supplier, exporting 45.4 thousand tonnes of poultry to the Philippine market in 2025, accounting for more than two-thirds of total EU exports to the country. In the first half of 2026, Poland accounted for around 84% of EU poultry supplies to the Philippines.

‘Rising poultry consumption in the Philippines creates opportunities both for the development of local production and for cooperation with international suppliers. For importers, processors and the foodservice sector, reliable supply, product quality and food safety are key considerations. The EU poultry sector has extensive experience in serving international markets and can meet these needs by offering products produced in line with the common standards that apply across the European Union,’ says Dariusz Goszczynski, President of the National Poultry Council – Chamber of Commerce (KRD-IG) in Poland.

Common standards for EU poultry production

Poultry production in the European Union is subject to common regulations covering areas such as food safety, hygiene, animal health and welfare, and traceability. At the same time, well-developed production and logistics infrastructure makes it possible to supply distant markets, including the Philippines.

The principles of European poultry production are presented to Filipino consumers and industry representatives through the ‘European Poultry – From Our Farms to Your Tables’ campaign, co-funded by the European Union. The campaign aims to raise awareness of production standards and the origin of European poultry products.