Category: Philippine Star

Reducing the value-added tax (VAT) rate to 10 percent from 12 percent could cost the government roughly P330 billion annually, derail fiscal consolidation efforts and disproportionately benefit high-income earners, the Department of Finance (DOF) warned.

While the proposal to cut VAT rate to 10 percent has gained public attention, Finance Undersecretary Karlo Adriano said the reduction is equivalent to one percent of gross domestic product or around P330 billion a year on average.

‘If we have a target of 5.5 percent fiscal deficit this year, with the reduction of VAT to 10 percent, our fiscal deficit will be at 6.5 percent. So definitely, we will not be able to do fiscal consolidation because our fiscal deficit last year was only 5.7 percent,’ Adriano said.

Adriano warned that a wider deficit could weaken the country’s creditworthiness and raise borrowing costs.

‘If we cannot show that we are capable of fiscal consolidation, what will happen? Interest payments will also increase because our credit rating will be lower. When it gets worse, all our debts will increase. And that’s a cycle of more debt,’ he said.

To offset the lost revenues, the government would either have to slash expenditures by the same amount, around P330 billion a year.

‘That means less government programs of around P330 billion every year. So those are the things that need to be considered given this proposal,’ he said.

Adriano also pushed back against the notion that the VAT system is regressive.

According to Adriano, all income groups pay the same percent, citing numerous exemptions such as those on food, which accounts for about half of the spending of the poorest households.

Because the poor already spend mostly on VAT-exempt goods, a rate cut would largely benefit high-income earners.

‘If we actually decrease the VAT rate, the ones who will benefit the most are the high-income (earners) because they are the largest consumers,’ Adriano said.

Adriano also acknowledged the struggles of middle-income earners who are not poor enough to qualify for subsidies but are burdened by rising costs.

While the personal income tax system is already progressive, he underscored the need for more efficient government spending to free up resources for programs that could assist the middle class. He cited leakages in social aid programs, including free college tuition, which sometimes benefit wealthier families.

‘As much as possible, the high-income classes don’t need a single peso. Channel all this peso that the high-income classes receive to the middle-income,’ he said, adding that conditional cash transfers have proven effective in reducing poverty and should remain targeted.

The DOF official also discussed other tax-related measures, including the extension of the estate tax amnesty, which Congress recently moved to prolong until 2030.

Adriano said this would be the third extension since the measure was first introduced under the Tax Reform for Acceleration and Inclusion (TRAIN) law in 2019.

‘It was extended the first time because of COVID. and then I believe it was extended again because there are many people who still want to avail of the amnesty,’ he explained.

On the proposed 12 percent VAT on digital service providers (DSP) such as Netflix and Spotify, Adriano said the levy could generate around P35 billion annually, though this is a conservative estimate.

More importantly, he said the measure is intended ‘to level the playing field between local DSPs and foreign DSPs,’ since domestic providers are already subject to VAT.

San Sebastian College-Recoletos showed its might right away by dumping Immaculada Concepcion College, 85-64, in the opening of the PG Flex Invitational Tournament 2025 Quintana Cup on Monday, September 29, at the Paco Arena.

Axl Ross Taporco led SSC-R’s mighty assault in the second quarter, coming through with daring drives to spark the Stags’ decisive breakaway.

The 5-foot-11 Taporco led a balanced SSC-R attack with 17 points, while Jew Hinoquin and Renz Robin Bernardo added 16 points. Four other players, including Josemaria Gomez De Liano – younger brother of PBA players Juan and Javi – added six points or more.

The opening of the preseason tournament, which has the backing of Smart Sports, Crane, Topflite, Hapee, Gerry’s Grill, Spalding, Mighty Bond and Best Options, was graced by PG Flex Linoleum owner Nelson Guevarra, Manila Councilor Jefferson Lau and UCAL Director Bong Nebrija.

In the other game, Letran needed a late game heroic from Neil Narvaez to survive the spirited challenge of Diliman College, 74-72.

Protecting a slim 69-67 lead, Narvaez made the Blue Dragons pay dearly for leaving him slightly open by draining a 3-point shot – his lone field goal for the night. He also made his both free throws.

Diliman had several chances to snatch the lead back but it misfired.

Denzil Sison-Walker showed what he’s capable of doing after posting significant numbers of 21 points, 5 boards and 1 assist in almost 28 minutes of action.

Meantime, reigning UCAL champion Olivarez College launches its bid for another title when he battles Gardner College in another 3-game schedule that will see the Knights going for their second win against ICC and Centro Escolar University taking on Manila Central University.

MREIT Inc. is considering the infusion of mall and retail assets from its sponsor, Megaworld, to diversify its portfolio, which is targeted to reach one million square meters of gross leasable area (GLA) by 2027.

The infusion of mall assets seeks to capture the continued growth in consumer spending and the strong momentum in mall leasing, complementing MREIT’s established base of high-occupancy office assets.

‘Our goal is to diversify our portfolio and expand our revenue base. So while the country is experiencing an impressive growth in consumer activities, we want to tap into these opportunities. This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead,’ MREIT chairman Kevin Tan said.

MREIT said that property giant Megaworld continues to hold a substantial portfolio of income-generating assets, including around one million square meters of office GLA and 500,000 square meters of retail GLA that may still be infused over time.

The company said that this deep pipeline provides flexibility and underscores the long-term growth runway as MREIT accelerates toward its one million square meter target.

In terms of Megaworld Lifestyle Malls, foot traffic and sales across the country have already surpassed pre-pandemic levels, with strong leasing activities from both global and homegrown brands.

Mall occupancy has also reached a record 93 percent as of end-June.

‘This favorable environment underpins MREIT’s strategy to bring in more retail assets in the future, ensuring that its portfolio captures both the growth of business process outsourcing and the resurgence of Philippine consumer spending,’ the company said.

MREIT’s current portfolio spans across Megaworld’s key townships, particularly in Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park and Davao Park District, with occupancy consistently among the highest in the industry.

The company remains focused on expanding its portfolio through accretive acquisitions, while maintaining strong dividend payouts to investors.

Former World No. 1 and two-time major champion Dustin Johnson is set to bolster an already formidable field at the International Series Philippines, which fires off on October 23 at Sta. Elena Golf Club in Laguna.

Johnson, whose resume includes an undefeated Ryder Cup record over five appearances – highlighted by a dominant 5-0 showing at Whistling Straits in 2021 – joins a stellar lineup that makes this event the most high-profile golf championship in the country since the Johnnie Walker Classic in 1995 at the Orchard Golf and Country Club.

He will be joined by fellow major winners Bubba Watson, Patrick Reed, Charl Schwartzel and Louis Oosthuizen, alongside international standouts Dean Burmester and Marc Leishman. With a $2-million purse, the International Series Philippines promises top-tier competition and world-class shotmaking from the opening tee shot to the final putt.

Now a leading figure with LIV Golf’s 4Aces GC, Johnson last played on the International Series circuit at the PIF Saudi International in 2023. His return to Asia and debut in Manila is expected to energize fans and draw new attention to the sport locally.

‘What I love most about the game is that it takes me to places I might never have gone otherwise – and the Philippines is one of those places,’ said Johnson. ‘To be able to play in front of new fans, experience a different culture, and share the excitement of world-class golf in a country that’s still discovering the sport – that’s really special for me.’

Johnson captured the US Open title in 2016 and delivered a record-breaking performance at the 2020 Masters, winning with a tournament-best 20-under-par total. He first reached world No. 1 in 2017, holding the top spot for 64 consecutive weeks – the fifth-longest reign in history – and has spent over 130 weeks in total atop the rankings.

But despite his illustrious achievements, the upcoming International Series event holds special meaning.

‘The International Series is a perfect fit for where I’m at in my career,’ said Johnson. ‘Even though the LIV Golf season is over, I still want to compete, stay sharp, and challenge myself against some of the best players out there.’

Beyond personal goals, Johnson emphasized the broader impact of competing in events like this one: helping to grow the game in emerging markets.

With his addition to the field, the International Series Philippines is shaping up to be one of the most competitive and captivating events on this year’s global golf calendar.

The tournament is the sixth of nine elevated events in the 2025 Asian Tour schedule, offering players from around the world a direct pathway into the LIV Golf League through its season-long rankings race.

A child’s birthday is a cherished memory, especially when they can freely run around and share the fun with friends and family in a space built just for them.

Located on the fourth floor of The Podium in Ortigas, Kinetix Kids is a play-gym, activity, and specialized training center. It is a one-stop shop where kids can play, enroll in special classes, and celebrate important milestones.

Since opening in November 2024, the place has become a popular venue for children’s parties. It has become an ideal party place in Ortigas that offers flexibility for family celebrations.

The event hall can accommodate up to 120 guests and offers flexible options for shared or exclusive access to the amusement area. The smaller hall can accommodate around 60 guests. Tables, chairs, and a basic sound system are included with the venue.

According to marketing manager Shalla Yu, a wide variety of party themes, from “outer space adventures to jungle explorations, and of course, the ever-popular character-inspired parties” were already held in the venue.

“What makes it fun is watching how kids fully dive into it and turn our space into their own little world,’ she added.

The place can host more than just birthdays; families can also celebrate graduations, christenings, Christmas, Halloween, or any other themed parties they can imagine. The venue can also accommodate organized playdates for groups of 10 or more children, with optional catering for snacks and desserts.

The establishment offers food and beverage services through its own arm, Kinetix Kitchen. They also have accredited food suppliers.

For an even more magical party, it has its own mascots, Aki, Ava, and Tobi.

“Just let our events team know in advance if you’d like them to make an appearance, and we’ll be happy to include them in your party package,” marketing head Shalla said.

Events director Albee Barretto emphasized the “mix of fun and convenience” that the play-gym provides.

“Parents don’t have to stress, and kids get the celebration of their dreams,” he said. “Plus, the space itself is designed to keep the energy high and the kids fully engaged. When you celebrate here, you get both peace of mind and a party that stands out.”

Two years after his first solo show, businessman-turned-artist Marco Santos is back with a second exhibit that channels fury as much as form.

Santos, who goes by MYSAN (after his initials and first three letters of his surname), debuted in 2023 at La Fuerza with ‘Persistence of Passion.’ Then 53, he was exuberant-‘a firecracker,’ as he once described himself. Now 56, he still fizzes with energy, but his art has grown darker, literally and figuratively.

His new show, ‘Man-hole,’ at Underground in Makati Cinema Square, pares down to nine works from the 12 mixed-media pieces of his debut. Where his earlier works leaned on pale plywood etched with burnt markings, this collection is heavy with char, holes, and voids.

When asked what it felt like to drive a hole into a painting on display at the iconic Makati destination known for its “ukay-ukay” (pre-loved clothing), Santos exclaimed: ‘Masarap!’

Rage, frustration, and fire

Curator Vien Valencia, a 2024 CCP Thirteen Artists awardee, selected the nine works from a stockpile of about 100 Santos has produced since leaving the business world behind.

The pieces grew out of rage and frustration, he admitted. A trip to Naoshima, Japan’s famed ‘Art Island,’ left him envious of its permanence and reverence. There, works of Claude Monet and Yayoi Kusama are housed on an island of beauty, history and creativity.

‘Why can’t we have this in the Philippines? We have 7,107 islands,’ he recalled, before correcting himself: ‘7,641.’

‘As an artist, you’re looking for your voice. Sometimes you never find it. But here’s a chance for me to help the country. Help more artists. And then I realized. Matagal ‘to. It will take forever.’

When the dream of building such a haven at home felt impossibly out of reach, he smashed his own canvases.

‘Every painting I saw in the house, I fucking smashed. I put a hole. Sa galit, sa galit.’

Some of those torched works even sat in his swimming pool before being dried “for texture,” he said.

Holes, keys, and heat

Visitors entering the gallery encounter stark contrasts of black and white. The burned surfaces and punctured gaps demand attention against the white walls.

Art is subjective, so they say. Even Santos admitted that sometimes he simply looks at a piece as a beautiful creation and that is it. No deeper meaning, no subtexts – just an eyecatching artwork.

But his pieces spur conversation.

One standout, Kagi-Japanese for ‘key’-uses string to bind the surface, with a silver key fixed inside a lone cavity. ‘When you make a lot of holes and you’re tied up, you can’t really get out. But if you have a key, you get out,’ explained Santos, who used to live in Japan.

Another piece arranges 36 blackened boxes with a lone red one, Everything else in the collection but this one is charred using high heat, but this brings the temperature down to the body’s normal temperature, thus its title “37 Degrees.”

Even the benches are part of the show. Made from World War II-era Marston Mats-perforated steel planks once used for runways-Santos coated them with acrylic to become functional artworks. Like jeepneys, he noted, the mats were abandoned by Americans and reinvented by Filipinos.

Nakedness and metaphors

Santos’ art took years before it found its right avenue. It was perhaps a spur-of-the-moment, a surge of emotions, but it was not rushed. It cannot be rushed. As he said about the painstaking process of punching a hole, torching with fire, submerging in water and air-drying for texture, his art found its place at the right time.

And Santos doesn’t shy away from blunt metaphors. ‘Having an exhibit for me is being naked,’ he said. ‘If you can be naked and accept the fact that people say, ‘ang liit ng titi mo, fuck you’-you can be an artist.’

The show’s title, ‘Man-hole,’ came after rejecting a more risqué option-‘As A Hole’-that he feared might alienate audiences.

As for the works themselves, they testify to a process of burning, breaking, soaking, drying. Santos’ art is less about control than surrender: to rage, to destruction, and finally, to form.

‘Man-hole’ runs at Underground in Makati Cinema Square through Oct. 1.

ABS-CBN executive Lauren Dyogi shared the details on how the Nation’s Girl Group BINI was invited to perform at the Coachella Valley Music and Arts Festival next year.

In an interview with Karmina Constantino on the latter’s “KC After Hours” YouTube channel, Dyogi said that BINI’s recent world tour paved the way for their Coachella 2026 gig.

“Laging ang nasa utak natin, one way to go international is to be invited in big festivals [like] Coachella and Lollapalooza,” Dyogi shared.

He added it was the vision of ABS-CBN CEO Carlo Katigbak to hire an international group of consultants to guide them in bringing artists to global stages.

“When we were able to get an agent nadala tayo sa promoters na non-Filipinos. And these promoters, ang vision talaga ‘nun is if we were able to impress the promoters, itong mga promoters na ‘to, sila din ‘yung magdadala sa atin sa festival,” Dyogi said, referencing promoters like Live Nation and All Things Live.

Dyogi continued by saying that the BINIverse world tour was an investment rather than a revenue-making tour for the group.

“Wala tayong kita diyan. It was really a risk on our end. It was really Carlo’s vision, Tita Cory (Vidanes) saying, ‘Kailangan niyong gawin yan,'” Dyogi went on. “Because that’s a month of being away from more lucrative opportunities locally. But we took that risk, we went there.”

The executive explained they had to prove the P-pop act had a crowd, and big shows in Dubai, Los Angeles, and San Francisco were evidence of a global audience, and in Dyogi’s eyes led to the Coachella invitation.

Dyogi also denied that ABS-CBN paid the long-running music festival to include BINI in the lineup.

“Sinasabi ng tao ngayon binayaran daw natin, hindi naman po totoo ‘yun, hindi ganun,” Dyogi stated.

BINI will be the first all-Filipino group to perform at Coachella. Next year’s festival will be headlined by Justin Bieber, Sabrina Carpenter, and Karol G.

Self-proclaimed ‘Son of God’ Apollo Quiboloy is now in stable condition after being hospitalized due to a ‘difficulty in breathing,’ according to the Bureau of Jail Management and Penology (BJMP) on Tuesday, September 30.

BJMP spokesperson Jayrex Businera told Philstar.com that Quiboloy was rushed to the hospital on September 11 after he experienced difficulty in breathing.

‘He was later diagnosed with Community Acquired Pneumonia (Moderate Risk),’ Businera said.

‘As of 30 September 2025, he is stable and recovering in a public hospital, in line with BJMP policies on medical care for PDL (person deprived of liberty),’ he added.

The Pasig City court handling Quiboloy’s case, Regional Trial Court Branch 156, had already been informed and authorized Quiboloy’s hospitalization on September 15.

Quiboloy faces several indictments from the US, including sexual abuse and coercion, as well as human trafficking.

The pastor, a close ally of former president Rodrigo Duterte, is on the US Federal Bureau of Investigation’s most wanted list.

In the Philippines, Quiboloy also faces several cases, which include sexual abuse and qualified human trafficking.

The Philippine National Police suspect that Quiboloy sexually exploited hundreds of women.

On top of the sexual crimes he was charged with, Quiboloy also faces contempt charges from both the House of Representatives and the Senate.

Quiboloy failed to show up in proceedings for both chambers, prompting lawmakers to issue subpoenas and eventually a contempt citation.

Talks of the US extraditing Quiboloy have been circulating ever since his arrest.

The local stock market fell deeper in the red, opening the week below the 6,000 mark and extending its decline to a sixth consecutive day.

The benchmark Philippine Stock Exchange index (PSEi) slipped by 0.49 percent or 29.52 points to end at 5,997.60.

The broader All Shares index also inched down by 0.23 percent or 8.46 points, settling at 3,636.34.

‘The PSEi fell below the 6,000 mark as prices continued to decline despite last week’s all-red performance,’ Luis Limlingan of Regina Capital.

‘Selling pressure remains strong, with the market still lacking any positive catalyst,’ Limlingan said.

Limlingan said that adding to the bearish sentiment are the ongoing uncertainties in the country and the continued depreciation of the peso against the dollar, which is dampening confidence among both local and foreign investors.

Trading was anemic as total value turnover stood at P4.72 billion.

Sectors were dominated by those in positive territory, led by mining and oil with a 5.32-percent jump.

Services and financials, meanwhile, fell by 1.58 percent and 1.23 percent, respectively.

Decliners edged out advancers, 106 to 100, while 58 issues were unchanged.

BDO Unibank was yesterday’s top traded stock, plunging by 2.6 percent to P135 per share, followed by ICTSI with a 2.63-percent drop to P481.

Public servants shouldn’t be onion-skinned. They need to answer bona fide questions from their constituents. With all the hullabaloo on flood control, it’s my opinion that former congressman of Cebu’s 7th District, as well as the incumbent, his own wife, have a lot of issues to clarify.

PJ and Dra. Patricia Cinco Calderon are persons of integrity, honor and dignity. Nonetheless, they may have the legal and moral obligation to answer questions on the issue of flood control.

PJ used to be mayor of Samboan, which belongs to the 2nd District. We don’t know why he was later representing the 7th District, from 2016 to 2019 and again from 2019 to 2022 and from 2022 to 2022 and from 2022 to 2025. He was a Provincial Board member from 2007 to 2016. He was succeeded by his wife, Patricia, who ran without any serious opposition in 2025.

First, as vice chairman of Zaldy Co’s magical and controversial Appropriations Committee, under the overall leadership of resigned speaker Martin Romualdez, PJ should explain to the people and to the nation, and especially to the concerned citizens of Cebu, particularly of the 7th District, how in the world did this remote area get the lion’s share of flood control budget, when there is no scientific study indicating that the eight towns in southwest Cebu are the most flood-prone in the whole province.

Second, the Calderons should explain, what political and financial wisdom guided Congress in allocating no less than ?12.06 billion to the 7th District alone, as declared in the online Sumbong sa Pangulo platform, out of the total ?25.521 billion allocated for the entire island of Cebu. Out of 395 flood control projects for the entire Cebu, why did Calderon’s district get 162? Congressmen are national officials, not LGU or parochial leaders. Did they consider the bigger picture instead of focusing only on the most remote district? It is incumbent upon the Calderons to explain this to the people. Explain the rhyme and the reason.

Third, why was the 1st District, with three cities, and with a population multiplied four times the population of the 7th District, and with too many flood-prone areas given only ?3.01 billion or just one-fourth that of Calderon’s district? The 3rd District, with the big city of Toledo and the largest towns of Barili and Balamban, and with a population four times bigger, given only ?1.95 billion, or less than one-sixth of what Calderon’s district got? What formula did Calderon’s committee use in the distribution of public funds?

Fourth, explain why the 7th District had 162 flood control projects. Where are these located? What is the scientific basis in terms of atmospheric geophysical and astronomical criteria and determining factors? What planning parameters and mechanics were used by the congressman and the DPWH in determining that there should be 162 flood control projects in the 7th District, while only 36 in the 1st District, only seven in the 6th District, and 42 in the 3rd District? My God, all thinking Cebuanos should be amazed at such a draconian mystery.

Fifth, the Calderons should declare the exact location by precise geographic coordinates, where in the world these specific projects are located. Where in Malabuyoc are the so-called 38 projects supposedly costing ?3.3 billion located? How many projects are in Ronda, my own hometown, which is allegedly blessed by no less than ?2.6 billions. I am from Ronda and I always go around my small town. And I can testify before the holy image of Our Lady of Sorrows that I have not seen these projects. Well, I am not saying that they do not exist. I must be either blind or a stranger in my own paradise.

Lastly, the Calderons should declare why of all contractors in the whole universe, his close friend’s own construction company, a single proprietorship, based in Dumanjug, the QM Builders, reportedly cornered 89 projects worth ?7.15 billion in the whole Cebu and Quirante Construction Corp. allegedly got a whopping 41 projects worth ?3.19 billion. It must not be an accident that QM and Quirante Construction have been blessed with such huge, even gargantuan multi-million projects.

With no malice or bad faith, as a taxpayer from the 7th District, this humble writer has the right to know the truth. If the Calderons have nothing to hide, they should take these questions calmly and in good faith. I believe they are honorable people.