Nickel Asia Corporation (PSE: NIKL, RIC: NIKL.PS, BBG: NIKL.PM) reports 12% increase in sales volume for the nine-month period ended September 30, 2015 on a year-on-year basis, but that peso revenue slumped by as much as 40% for that same period YOY. We’ve seen soft metal prices, particularly LME Nickel price and nickel ore prices, in the last year or so, thus a huge drop in NIKL’s and similar mining companies’ revenue.
I’m attaching the press release in full below, but the main points can be summarized in the graphs that follow:
According to this news, the approval of the tax exemption bill that’s been pending in the Senate was rushed. I say this has long been overdue.
MANILA, Philippines — With three weeks left before Congress goes into recess, the Senate is rushing the approval of a long-awaited measure that seeks to exempt minimum wage earners from paying the income tax.
But with the inflation since 1997, the brackets in the progressive tax table definitely needs as much adjustment as the personal exemption. Otherwise, it would just be like saving the lowly taxpayers a meal a day when they eat three times a day.