R/$ rate stands at P49.92/$1 The peso exchange rate stands at P49.92 last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P49.902. CTA rules income of holding firms subject to local business tax The Court of Tax Appeals (CTA) has ruled that dividends and interest income of a holding company is subject to local business tax. In a 12-page resolution, the court’s Second Division rejected the petition of First Meridian Development, Inc. (FMDI) of Davao City to get back more than P456,000 in business tax remitted to the Davao City treasurer’s office. The tax covered .55 percent out of its P165-million dividends and interest income in money market placements for the first two quarters of 2011. FMDI said it is not required to pay the local business tax as it is only holding shares of stocks of San Miguel Corporation and does not operate like an intermediary financial institutions, or investment company. (Jun Ramirez) Tags: CTA rules income of holding firms subject to local business tax, interest income, manila bulletin, mb.com.ph, money market, News in brief for December 18 2016, Philippine Dealing & Exchange Corp. (PDEx)
- ‘Solo: A Star Wars Story’: News, trailers, and everything we know so far
- Lead detective in the search for missing toddler William Tyrrell breaks his silence after sensationally being thrown off the case - and reveals his new job
- William Tyrrell's foster parents open up about enduring years of death threats and online abuse as people STILL believe they are to blame for the toddler's disappearance
- 'It's disgusting': William Tyrrell's foster mother launches furious tirade against the police and claims they're 'doing nothing' to find her son five years after he went missing
- 'They don't love them like we do': William Tyrrell's birth father lashes the boy's foster carers in court statement claiming they 'didn't really care' about the boy because he's not 'their kid'
- 'It's pretty easy to cordon-off a crime scene': William Tyrrell's foster mother slams police for allowing 40 officers to trample on evidence
- 'Mummy, whose is that car?' How William Tyrrell's sister and foster mother spotted a strange man waiting outside their home in a green sedan on the day the three-year-old vanished
- Trojan horse: the real story behind the fake 'Islamic plot' to take over schools
- Washing machine repairman who was wrongly targeted by police during hunt for missing toddler William Tyrrell says the publicity destroyed his life
- 'I'll carry that until the day I die': Detective dumped from the hunt for William Tyrrell considers himself a 'failure' for not solving the mystery - and reveals he has a 'fair idea' who's responsible for his disappearance
- The unexplained 118 minutes: William Tyrrell investigation is thrown into turmoil after police admit confusion over when iconic last photograph of missing toddler in his Spider-Man suit was REALLY taken
- EXCLUSIVE: William Tyrrell vigilante is jailed for his 'crusade' against the missing boy's foster parents - as a magistrate blasts him for acting like the 'avenging angel of justice'
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