In brief: SOCE deadline extended, kids at risk from cyber attacks, more tax reforms for fiscal sustainability

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SOCE

Comelec extends deadline for filing of SOCE

The Commission on Elections (Comelec) has extended for one day the deadline of filing the Statement of Contributions and Expenditures (SOCE) of all candidates in the May 13, 2019 midterm elections.

the COMELEC has extended the filing of SOCE on June 13, Thursday, from the original date of June 12, Wednesday, which is a holiday being the Philippine Independence Day.

Pursuant to Republic Act No. 7166, all persons who filed a certificate of candidacy (COC) and all electoral parties shall file a true and correct SOCE within 30 days from Election Day.

Kids at risk from cyber threats

Internet cybersecurity firm Kaspersky Lab warned parents in the Philippines that their children are increasingly at risk from cybersecurity threats online.

A study by Kaspersky revealed that web-based infections in the country increased by 230 percent at 31.89 million in 2018 compared to 9.49 million in 2017 which were scanned and blocked by its products when users accessed websites or downloaded files.

The company said that 82.46 percent of web threats for the period of January to December last year have attempted to attack home users in the Philippines.

Additional tax reforms to ensure fiscal sustainability

Finance Secretary Carlos Dominguez III has high hopes that additional tax reform measures will be passed to generate funding for the government’s infrastructure program and ensure fiscal stability.

In his speech during the joint membership meeting of several business organizations in Taguig City on Friday, Dominguez noted the passage of several tax reform bills in the first three years of the current administration has funded many key projects.

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He said the first tranche of the tax reform program, the Tax Reform for Acceleration and Inclusion (TRAIN) law that was passed in late 2017, “provided solid footing for our spending program”.

TRAIN has cut workers’ tax rates, exempting those earning PHP250,000 and below annually from paying income tax, but hiked excise taxes on fuel products and introduced excise tax on sugary drinks, among others. – BusinessNews.ph

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