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Local banks “safe” from Silicon Valley Bank crisis

The Bangko Sentral ng Pilipinas (BSP) and the leading industry group of private and government banks on Tuesday sought to calm markets and the public amid contagion fears from a brewing banking crisis in the United States. Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said there was limited fallout to the country following the …

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Towards Sensible Fiscal & Monetary Interventions

Over the years, CREBA mounted strong opposition to the imposition of onerous land taxes, which would have made housing completely unaffordable by the low- and middle-income groups. These taxes included the Creditable Withholding Tax (CWT), the Land Conversion Tax, and the VAT. Congress subsequently shelved the proposed land conversion tax; the CWT was rationalized to …

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