Category: Business Mirror

THE chairman of the House Committee on Ways and Means has filed a bill seeking to increase excise taxes on luxury automobiles, expand the coverage of non-essential goods subject to excise tax, and remove perfumes and toilet waters from the list of taxable goods.

Marikina Rep. Miro S. Quimbo, the panel chairman, filed House Bill 11465 to strengthen the taxation of luxury and other non-essential consumption. The bill states that the proposed changes are intended to promote a more progressive tax system by requiring individuals with greater capacity to pay to contribute a larger share toward government revenues.

The bill amends Sections 149 and 150 of the National Internal Revenue Code (NIRC) of 1997, as amended.

‘The measure aims to achieve greater tax progressivity and promote a more equitable distribution of wealth since luxury and high-value goods are generally purchased by consumers with greater disposable income and capacity to pay,’ Quimbo said.

He added that increasing taxes on high-value discretionary purchases may discourage conspicuous consumption and encourage the allocation of resources toward savings, investments, or socially productive expenditures.

Under HB 11465, starting January 1, 2027, the excise tax structure for automobiles would be adjusted by creating higher tax brackets for luxury vehicles.

Automobiles priced above P4 million up to P8 million would be subject to a 50-percent ad valorem tax, while vehicles priced above P8 million would be subject to a 75-percent tax. Vehicles priced at P4 million and below would retain their existing excise tax rates.

Under the proposed automobile excise tax schedule, vehicles with a net manufacturer’s price or importer’s selling price of up to P600,000 would continue to be subject to a 4-percent excise tax, while those priced above P600,000 up to P1 million would remain covered by a 10-percent tax rate. Automobiles priced above P1 million up to P4 million would continue to be taxed at 20 percent.

Quimbo said the proposed increase in automobile excise taxes is expected to generate approximately P3.91 billion in additional annual revenue, which may be used to support government priority programs without increasing the tax burden on ordinary taxpayers.

The bill also proposes raising the excise tax on non-essential goods under Section 150 of the NIRC from 20 percent to 25 percent. It expands the coverage of the tax to include luxury recreational assets such as yachts, jet skis, speedboats, sailboats, motorboats, aircraft, planes, jets, and helicopters acquired for pleasure, private use, or sport.

The measure clarifies that ordinary passenger vehicles, motorcycles, and commercial vehicles such as trucks and cargo vans would not be affected by the proposed increase. According to the bill’s explanatory note, the tax adjustments are focused on a narrow segment of high-value luxury transactions.

At the same time, HB 11465 removes perfumes and toilet waters from the coverage of the excise tax on non-essential goods.

The bill also notes that removing perfumes and toilet waters from the tax coverage would eliminate an existing tax on personal-care purchases while allowing the government to focus excise taxation on luxury consumption.

‘Strengthening the taxation of luxury consumption constitutes a practical means of enhancing the progressivity of the Philippine tax system,’ Quimbo said.

The lawmaker added that the proposed amendments would allow the government to access additional revenue sources that are identifiable and administratively manageable while ensuring that goods used for essential needs, livelihood, public transportation, and productive purposes are not unnecessarily burdened.

DEPARTMENT of Public Works and Highways (DPWH) Davao Regional Director Engineer Juby Cordon on Thursday appeared before the National Bureau of Investigation (NBI) in connection with the ongoing investigation into the multi-billion flood control projects in that region.

Cordon arrived at the NBI at around 1:00 p.m. and submitted 10 boxes containing documents pertaining to 47 flood control projects which have been flagged by the agency for alleged anomalies.

NBI Director Melvin Matibag said they would thoroughly review all the documents submitted to determine whether there is sufficient basis to file charges.

‘Engineer Cordon is here, together with other employees, and they have brought the documents we requested. About 10 boxes of documents which we will examine one by one to determine what really happened with these projects,’ Matibag told reporters.

‘If there is no evidence to support the filing of a case, we will also make an announcement,’ he added.

Matibag earlier claimed that there were ‘ghost’ and ‘substandard’ flood control projects in the region including Davao City.

The NBI director earlier said around P1.9 billion in government funds were spent for the 47 projects.

However, Matibag clarified yesterday that the projects was actually worth P7 billion.

‘It turns out that the P1.9 billion we were looking for the projects awarded to just one contractor was actually P7 billion from 2018 to 2024, So after this, we will also issue a subpoena for documents to the Commission on Audit [COA],’ the NBI chief said.

The NBI director earlier said it would subpoena at least 51 individuals from Genesis88 Construction, Gemma Construction, Agong Construction, the DPWH, and the COA in its investigation.

Davao Rep. Paolo Duterte, in a statement issued several days ago, welcomed the NBI investigation but called on Matibag not to be selective in its investigation into the anomalies involving flood control projects.

He also asked whether Matibag would conduct an investigation on the flood control projects in San Pedro, Laguna, the bailiwick of his wife Laguna Rep. Ann Matibag.

In response, Matibag said the NBI is ready to conduct an investigation if Duterte will file a case and present any evidence.

THE country’s information technology and business process management (IT-BPM) industry is targeting nearly $45 billion in revenue next year even as employment growth slows-a change toward higher-value work that requires fewer but more capable workers.

The Information Technology and Business Process Association of the Philippines (IBPAP) expects industry revenue to reach $42.3 billion this year and about $44.9 billion in 2027.

Employment, meanwhile, is projected to rise to 1.94 million full-time workers this year and nearly 2 million next year.

According to IBPAP President and CEO Jack Madrid, the widening gap between revenue and employment growth is partly being driven by artificial intelligence (AI) augmenting the value of work performed by Filipino IT-BPM professionals.

‘The value of the work is the same-if not higher-but requiring less people to do it,’ Madrid said during a press conference at the International IT-BPM Summit 2026 in Parañaque on Thursday.

Automation’s potential impact was illustrated by saying that work previously requiring 100 people could, hypothetically, be completed by 70 workers through greater use of it. Meaning, the industry can continue increasing revenue without adding workers at the same pace.

For the IBPAP chief, however, slower employment growth does not mean the industry needs fewer people overall. Instead, the constraint is whether the country can supply workers with the capabilities needed for more complex and technology-driven work.

‘Now, do we want more? Yes, we want more. What’s the constraint? Capability,’ Madrid explained. ‘What’s the solution to that? Let’s all be better at what we do. Domain expertise, AI fluency, accept that we must learn continuously. That’s the equation.’

Based on the industry’s revised medium-term outlook released in July, IBPAP now projects 2028 revenue of between $43.3 billion and $50.5 billion, with employment ranging from 1.85 million to 2.14 million full-time workers.

The new projection replaces its 2022 roadmap, which had targeted $58.9 billion in revenue and 2.5 million workers by 2028.

Whether the Philippines can reach the upper end of its 2028 revenue range, Madrid said the industry’s ability to meet demand for skilled workers will be the biggest factor determining it.

‘I think being able to meet the demand for talent, I think, is probably the number one factor,’ he said.

The second major concern is the ease of doing business, particularly uncertainty and inconsistency that could affect investment decisions, Madrid said.

‘Investors do not like uncertainty. They do not like inconsistency,’ he said, adding that the Philippines still has areas in its business environment that need to be addressed.

Infrastructure remains another consideration, although Madrid said the industry’s expansion beyond Metro Manila and Cebu indicates that digital and physical infrastructure is improving in emerging IT-BPM locations.

INDIA sees the Philippines as a partner rather than a competitor in the information technology and business process management (IT-BPM) industry, with the two countries already working together in areas that span the global services and maritime sectors.

The Philippines and India are established players in the global outsourcing industry, with the latter generally recognized as the world’s largest IT-BPM market and the former as another major services hub.

‘In fact, there are many areas where we are collaborating with each other,’ Indian Ambassador to the Philippines Shri Harsh Kumar Jain told reporters on the sidelines of the Association of Southeast Asian Nations (Asean)-India business forum in Makati on Wednesday.

‘Of course, IT-BPM industry is one which is a very successful example of collaboration between the two countries,’ he added.

In June, for instance, the two countries identified information and communication technologies, IT-BPM and artificial intelligence as areas for deeper cooperation under their Joint Working Group on Trade and Investment, alongside infrastructure, energy and pharmaceuticals.

They even elevated their bilateral relationship to a strategic partnership in August 2025 during President Ferdinand R. Marcos Jr.’s state visit to India. Among the agreements signed during the visit was a memorandum of understanding on cooperation in digital technologies.

Jain also pointed to Indian and Filipino seafarers and offshore workers as another example of the two countries’ workforces operating alongside each other in global industries. Further, he mentioned room for greater cooperation in agriculture and manufacturing.

The envoy’s comments come as Manila and New Delhi prepare to explore a bilateral preferential trade agreement (PTA), which could provide another avenue for expanding commercial ties.

The proposed PTA would initially cover trade in goods, but India wants to eventually broaden its scope to services.

‘It’s a matter of discussion and negotiation. But to begin with, I think it’s a preferential trade agreement in goods, but we would want to also broaden it,’ Jain said.

The Philippines and India have already agreed on the terms of reference for the negotiating committee. Formal negotiations are expected to begin after the ongoing review of the Asean-India Trade in Goods Agreement (AITGA) is completed.

Jain said he expects the review to conclude next year, while Trade Undersecretary Allan B. Gepty has separately said the Philippines hopes to begin PTA negotiations with India in 2027.

For India, a bilateral agreement could allow both sides to make commitments beyond those under the broader Asean-India trade framework.

‘When we have a trade agreement with the entire Asean, it is the least common denominator of all the countries,’ Jain said.

‘But now when we engage in bilateral trade agreements with the Philippines, we can be more ambitious and we can look for more concessions and bringing more clients into this differential trade agreement,’ he added.

Jain said bilateral trade between India and the Philippines currently stands at about $3.9 billion, compared with around $128 billion in India-Asean trade.

THE COMMISSION on Audit is pressed hard for a deeper probe into allegations that some P6.4 million of the Bangsamoro LGSF allocations were disbursed to selected local government units with political links to the United Bangsamoro Justice Party.

House members behind the congressional inquiry into the alleged selective release of ?6.4 billion in BARMM funds reportedly wanted the COA to pursue a forensic examination of the transactions, nearly a year after the House first raised questions over the distribution of the money to allegedly UBJP-favored local governments.

The push for a deeper COA probe stems from House Resolution No. 2199 and the subsequent findings of the House Committee on Public Accounts, which called for a specialized forensic investigation to establish how the Local Government Support Fund was released, distributed, and utilized across the Bangsamoro region.

The lawmakers’ concern centers on allegations that the LGSF was distributed selectively, with local government units and barangays allegedly favored because of their political links to the United Bangsamoro Justice Party (UBJP), the political organization associated with the Moro Islamic Liberation Front.

The House inquiry was initiated after Lanao del Sur Rep. Ziaur-Rahman ‘Zia’ Alonto Adiong raised concerns in January 2025 over reports that more than 400 barangays had received between ?500,000 and ?2.5 million in LGSF funds, with some barangay officials allegedly later being asked to withdraw substantial portions of the money for purported ‘special operations.’

Then House Public Accounts Committee Chair Stephen Joseph Paduano subsequently cited alleged irregularities in the disbursement and utilization of the funds, including questions over whether established LGSF procedures were followed before the releases were made.

The issue prompted the House panel in March 2025 to formally seek a COA fraud audit of the roughly ?6.4-billion fund. Adiong said COA’s central office should scrutinize the transactions given the amount involved, while Deputy Minority Leader Mujiv Hataman questioned the absence of BARMM officials during one of the committee hearings.

The House’s Committee Report No. 1502 later escalated the call, recommending a specialized forensic investigation beyond standard audit procedures to trace the flow of funds, examine disbursement documents and project proposals, and determine whether laws or regulations were violated.

The committee cited the speed and scale of the releases as among the reasons for a deeper examination, with about ?1.5 billion reportedly disbursed per month during the period under review. Lawmakers also cited testimonies from local officials who allegedly received funds for projects that they had not requested or that were subsequently cancelled.

The congressional report further raised concerns over possible political selectivity in the allocation of the funds, particularly involving LGUs and barangays believed to be allied with the UBJP. It recommended that COA scrutinize the underlying documents and fund transfers rather than rely solely on a conventional audit.

The House-authored resolution was filed by Adiong together with Deputy Speaker Yasser Alonto Balindong, Basilan Rep. Mujiv Hataman, Sulu Rep. Samier Tan, Maguindanao Rep. Mohamad Paglas and KUSUG TAUSUG Party-list Rep. Shernee Tan-Tambut.

The House panel subsequently submitted Committee Report No. 1502, with recommendations calling for further examination by COA and other accountability institutions.

Nearly a year after the House intensified its call for a specialized forensic audit, however, the key question now is whether COA has completed, is conducting, or has formally acted on the requested examination of the ?6.4-billion LGSF releases.

Joanie Delgaco poured everything she got from her Olympic experience but could only finish sixth in the final of women’s singles sculls of rowing at the Aichi-Nagoya 20th Asian Games on Thursday at the Nagaragawa International Regatta Course in Kaizu.

Delgaco clocked 8:01.63, 40 seconds after China’s Zhang Xinyu crossed for the gold medal. Uzbekistan’s Anna Prakaten claimed silver and Iran’s Fatemeh Mojallal Topraghhale took bronze.

Delgaco was thankful to have completed in the games adding she’s satisfied that she had given her best.

‘No podium, but still thankful for finishing the race,’ she said. ‘I did my best and no regrets, I gave it my best.’

The Filipina rower recalled thinking about the sacrifices and preparations that brought her to the Asian Games, including a two-and-a-half-month training camp in Germany following their initial preparations in the Philippines.

Delgaco admitted that she became emotional after the race, knowing she had given her best but still fell short of a medal, but said she believes there is a reason behind the result and hopes to bounce back in her next competition.

She also credited the support of her family, particularly her parents and siblings, for encouraging her to keep going and believe in herself.

Delgaco is now setting her sights on the next challenge: the Olympic qualification campaign next year.

‘My goal is to go for Olympic qualification,’ said the two-time SEA Games gold medalist and a Paris Olympian.

Alternergy Holdings Corp. on Thursday reported stable net income in fiscal year 2026, which ended last June 30, at P168.2 million compared with the P165 million in the previous year.

Consolidated revenues increased to P471.8 million and earnings before interest and taxes, depreciation, and amortization (Ebitda) rose to P553.8 million, driven by contributions from its renewable energy portfolio, including the newly commissioned 28-megawatt peak (MWp) Balsik solar project.

The Balsik solar project in Bataan generated P96.4 million in revenues, accounting for approximately 20 percent of consolidated revenues. The company’s two other solar assets-Kirahon and Palau continued to provide a substantial portion of revenues while the Pililla Wind Project recorded improved performance, supported by an increased tariff under the feed-in-tariff (FIT) program.

‘FY2026 marks an important stage in Alternergy’s growth. We are beginning to realize the returns on our portfolio investments as we build the financial and operational foundation for the next phase of our development.

The growth in revenues and Ebitda demonstrates the progress in our portfolio, while the substantial increase in our asset base shows the investments being made to bring our next wave of projects into operation,’ said Gerry Magbanua, president of Alternergy.

To date, the company has 119 MW of operating portfolio across the Philippines and the Republic of Palau. The company anticipates its operating capacity to increase to approximately 311 MW by end-2026, as its 128-MW Tanay Wind and 64-MW Alabat Wind projects advance toward commercial operations. Both projects were awarded under the DOE’s Green Energy Auction (GEA 2).

The 128-MW Tanay Wind and the 64-MW Alabat Wind are 90 percent and 85 percent complete, respectively. ‘As both projects are nearing commercial operations in a matter of months, we are approaching an important inflection point when these investments will begin contributing substantially to our operating revenues.

Our focus is on executing well, bringing these projects into commercial operation, and translating our development pipeline into long term operating assets that deliver sustainable value for the company and our stakeholders,’ Magbanua added.

The company also has a committed development pipeline with projects awarded under GEA4, including Liberty Solar, Kalandagan Solar, Alegria Wind and Tayabas North Wind, with a combined potential capacity of approximately 762 MW.

DAVAO CITY-Some 1,670 former mujahideen warriors-turned students, or their family members, received P80,000 in financial assistance for the two semesters this year, the Ministry of Basic, Higher, and Technical Education’s (MBHTE) has disclosed.

The college student scholars were former combatants of the Moro Islamic Liberation Front, which signed a peace agreement with government in 2014 and who took the scholarship examination under the MBHTE’s Access to Higher and Modern Education Scholarship Program (AHME-SP).

The qualified scholars have been either decommissioned combatants or their children, orphans, or surviving spouses, whose education was to be aligned with post-conflict rehabilitation and development efforts of the regional government.

Jawlah Lakman Kanapia, a 19-year-old Bachelor of Science in Nursing student-grantee at Notre Dame Hospital Siena College of Cotabato, said the scholarship opened doors in pursuing her education.

‘For many of us, this scholarship is not just a financial help; it is a chance to continue chasing our dreams and to build a better future for ourselves and our families. We are very grateful to be chosen as beneficiaries,’ said Kanapia, who is part of the regionwide continuing rollout of the program’s 7th Cohort, covering the Academic Year 2026-2027.

The scholarship for the decommissioned combatants started in 2020.

Of the 698 scholars who took their oath in Cotabato City this week, 224 are from Maguindanao del Sur, 224 from Maguindanao del Norte, 125 from the Special Geographic Area (SGA), and 125 from Cotabato City. Each scholar will receive P40,000 per semester, totaling P80,000 for two semesters.

Dayang Akirah Sansarona, chief of the Legal Research, Legal and Legislative Liaison Division, said she was delighted to confirm that the AHME-SP ‘is indeed inclusive.’

‘That proves that all had equal chances because you were all on equal footing when you applied,’ Sansaronas said.

‘When the demands of your education become heavy, remember why you started, remember that there are people who believe that your education is worth investing in,’ said Marjuni Maddi, the MBHTE Director-General for Higher Education.

In Cotabato City, the Ministry of Science and Technology (MOST) expanded access to science and technology education by deploying offline digital libraries to the schools in the city, to address persistent internet connectivity gaps.

At the KCC Mall Convention Hall in Cotabato City on August 27, the MOST turned over Science and Technology Academic and Research-Based Openly Operated KioskS (Starbooks) units to six schools during the Bangsamoro Science and Technology Week (BSTW).

The recipient schools were Kilangan National High School, Bai Monera Abas-Asim High School, Dar Al-Uloom Wal-Hikmah Institute, Inc., Simuay Junction Central Elementary School, St. Benedict College of Cotabato, and Cotabato City Institute, Inc.

The distribution brought to 12 the number of schools in BARMM that have received Starbook units from MOST this year.

Six other schools received the units during a turnover ceremony on May 20 at the Cotabato City Division Gymnasium. These were Bangsamoro Science High School, Mindanao Capitol College Inc., Datu Siang National High School, Kutawato Institute of Technology Foundation Inc., Datu Sema Kalantungan High School, and Cotabato City National High School (CCNHS) Annex-Diocolano.

The initiative responds to challenges in internet access, which can affect students’ ability to obtain reliable information for their studies and research.

A 2025 study by Mamalampac et al. found that only 15.75 percent of households had internet access, highlighting the limited connectivity available to learners in the region, the Bangsamoro Information Office said.

Through Starbooks, students and teachers can access science and technology references, research materials, educational videos, journals, and interactive learning resources without an internet connection, the information office said.

‘Through these projects, we are bringing science and technology closer to our people, especially our learners, who continue to face limited access to information,’ MOST Director General Engineer Abdulrakman Asim said

Dr. Julius Clarete, vice president for Academic Affairs of St. Benedict College of Cotabato, said her students often struggle to find reliable and updated resources when internet access is limited.

‘Our students face challenges in accessing reliable science resources due to limited internet connectivity, the high cost of mobile data, outdated library books, unreliable online sources, and the expense of subscription-based research materials. However, with the introduction of Starbooks, these challenges have become opportunities for improvement, as students can now access thousands of trusted science and technology resources offline and free of internet costs. This will support their lessons, projects, and research while encouraging greater interest in science,’ he said.

Rayanna-Snow Mocsin, a Grade 11 STEM student from Cotabato City Institute, Inc., said Starbooks will be a big help for students, ‘especially now that we have it in our school. Some of us only have limited resources so this is a great opportunity for us to learn more.’.

ASUS gathered leading Filipino creatives for ProArt Creator Connect at The Premier in Ortigas, Pasig City, showcasing how professional-grade displays anchor production workflows from concept to final output. The event featured hands-on demonstrations and workflow sessions with industry leaders Jay Tablante, Dan Villegas, Toni Gozum, and Abi Miguel, spanning photography, filmmaking, color grading, and fine art.

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Ask a casual fan to name a University Athletic Association of the Philippines basketball rivalry and you’ll most probably get: Ateneo-La Salle. The Battle of Katipunan. The Battle of the East. The Battle of the Birds. Maybe De La Salle U vs. State U – the trilogy still unfolding into a possible tetralogy.

But there’s another rivalry flying under the radar that’s driven by intense and cutthroat competition. It involves both basketball and volleyball teams and runs strong in both the men’s and women’s divisions.

Far Eastern U versus National U. Tamaraws versus Bulldogs. It’s not loud. It’s not always on primetime. But it’s the rivalry that never really goes away.

In basketball, it has history that still stings. In volleyball, meetings seem fated and destiny-arranged.

October 15, 2014. Smart Araneta Coliseum. Game 3. The National University Bulldogs defeated the Far Eastern University Tamaraws 75-59 to win the UAAP men’s basketball championship. It was only NU’s second title, its first in 60 years since the days of its iconic Bulldog, Narciso Bernardo, who won them their first UAAP crown in 1954.

That winner-take-all game in ’54 was played at the Rizal Memorial Coliseum. FEU, already considered basketball royalty at that time had four UAAP championships to its name (1938, 1939, 1947 and 1950). It was NU’s very first UAAP Men’s basketball title since the league was founded in 1938. That year they beat FEU in the finals too.

In 2014, FEU was supposed to have claimed its 20th title. Instead, NU ended a 60-year drought – again on FEU’s watch. Ray Parks, Troy Rosario, Gelo Alolino didn’t just win a championship. They closed a chapter FEU thought it owned.

Since then, every FEU-NU game in basketball has had that undercurrent humming underneath the floorboards. NU beat FEU 85-79 in the first round of UAAP Season 82, finally getting their first win after successive losses – again at the expense of FEU.

In the second round, NU embarrassed FEU with a lopsided 61-39 win. But come Season 84, FEU stole a win in the most painful way for NU. Xyrus Torres hurled a slightly off-balanced shot with 2.2 seconds to go. The shot fell through and shook the Bulldogs to their very core. 57, NU; 59, FEU.

So now, when Bulldogs and Tamaraws trade blows at Araneta and the Mall Of Asia Arena, it’s never just about standings. It’s about who remembers 2014 better. It’s a never ending story.

In volleyball, the rivalry is even more personal.

NU and FEU squared off for UAAP men’s volleyball supremacy in Seasons 87 and 88. In ’87, FEU was top dog following an impressive 13-1 finish in the eliminations. Their lone defeat came at the hands of a team chasing a historic five-peat – NU.

FEU swept NU 27-25, 25-14, 25-23 in the first round. NU answered back 17-25, 25-21, 17-25, 25-14, 15-9 in the second round, dealing FEU its only loss that denied them an outright finals berth.

After FEU and NU battled it out in the men’s volleyball finals in Season 87, they faced off with each other again in Season 88. FEU could have won its 26th men’s volleyball crown that season – a title long overdue since 2012. But the Buds Buddin, Leo Ordiales, Leo Aringo and Jade Disquitado-led Bulldogs frustrated the Dryx Saavedra and Miko Espartero-led Tamaraws. They were so close.

The following year, FEU’s most dominant season yet, they were again defeated by the hardworking Bulldogs in the men’s championship series. NU got to complete its six-peat while the Tams stayed silver for another year.

On the women’s side, it’s just as tight. National University avenged a stunning loss to Far Eastern University and came out with a dominating 25-13, 27-25, 25-15 victory in Season 86, forging a Finals duel. In Season 88, NU completed a reverse sweep 17-25, 16-25, 25-19, 25-21, 15-12, then FEU outlasted NU in a five-set thriller 25-23, 25-23, 20-25, 21-25, 22-20 – the longest five-setter of the season. It was De La Salle Lady Spikers though who were crowned women’s volleyball champs last year.

To summarize, FEU is the old empire – 20 basketball titles, 25 volleyball titles, the Morayta factory that has produced gladiators since the 1930s. NU is the new dynasty – the school that waited 60 years for one basketball title and then decided it didn’t want to wait anymore for anything.

The UAAP is so big on rivalries, you can actually choose your flavor. A word of advice, however. Don’t just go for the strawberry, chocolate or vanilla flavors. Try this chili-flavored rivalry for the ages. For a change.