Camille Naredo

President Ferdinand R. Marcos Jr. received the "First Philippine Polymer Banknote Series" from BSP Governor Eli M. Remolona Jr. at Malacañang on December 19, 2024.

President Ferdinand R. Marcos Jr. received the "First Philippine Polymer Banknote Series" from BSP Governor Eli M. Remolona Jr. at Malacañang on December 19, 2024. The series, which includes 1000-, 500-, 100-, and 50-piso denominations, highlights the Philippines' biodiversity and cultural heritage with designs featuring native species and traditional weaves. Polymer banknotes, known for their durability, cleanliness, and advanced security features, will circulate alongside paper banknotes starting January 2025. Initially available at banks, the 500- and 100-piso denominations will later be accessible via ATMs. The polymer series symbolizes national pride and raises awareness about the country's endangered species. 
Yummie Dingding , PPA pool

Article (news)

MARCOS

Katrina Domingo

ABS-CBN News

MANILA — President Ferdinand Marcos Jr. has ordered the reduction of real property taxes of independent power producers (IPP) who entered a build-operate-transfer (BOT) agreement with the government.In his Executive Order No. 83, Marcos Jr. said that “all liabilities for real property taxes for CY 2024, including any special levies… on property, machinery and equipment directly used by OPPs for the production of electricity under the BOT scheme” shall be “reduced to an amount equivalent to the tax due if computed based on an assessment level of 15 percent of the fair market value” of these properties.“All interests and/or penalties on such deficiency… are also hereby condoned, and the concerned IPPs are relieved from payement,” the order read.The order comes after the Department of Finance (DOF) raised concerns from various local government units that IPPs in their territories “are not entitled to exemptions and privileges enjoyed by other government-owned and controlled corporation.”The said discounted tax rate will be “applied to real property tax liabilities for succeeding years,” it said.The DOF was also mandated to submit to the President a progress report on the implementation of the order after six months.

President Ferdinand Marcos Jr. has ordered the reduction of real property taxes of independent power producers (IPP) who entered a build-operate-transfer (BOT) agreement with the government.

President Ferdinand Marcos Jr. has ordered the reduction of real property taxes of independent power producers (IPP) who entered a build-operate-transfer (BOT) agreement with the government.

Marcos cuts taxes for energy players engaged in build-operate-transfer deals with gov't

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Marcos cuts taxes for energy players engaged in build-operate-transfer deals with gov't

Katrina Domingo,

ABS-CBN News

Published February 19, 2025 08:25 PM PHT

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Updated February 19, 2025 11:04 PM PHT

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