The Supreme Court has nullified a 1987 compromise agreement between the Philippine National Oil Co. (PNOC) and the Bureau of Internal Revenue (BIR) that allowed the state-run oil firm to pay only R91 million of its more than R304 million tax liability.
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An initial importation of 900,000 metric tons of rice from Vietnam will be placed under countertrade scheme of the Philippine International Trading Corp. (PITC).
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An initial importation of 900,000 metric tons of rice from Vietnam will be placed under countertrade scheme of the Philippine International Trading Corp. (PITC).
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Finance Secretary Cesar V. Purisima yesterday signed a $500-million long-term loan from China Export Import Bank to finance Section II or the Malolos to Clark, Pampanga line of the North Luzon Railway project.
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The peso rate closed lower at P54.37 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P54.35 the previous day. The weighted average rate depreciated to P54.493 from P54.249. Total volume amounted to $330.5 million.
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