The Duterte administration’s budget deficit breached the P1 trillion mark in November due to higher spending and lower revenues amid the coronavirus-induced economic recession, data from the Bureau of the Treasury revealed. The national government incurred a P1.069 trillion fiscal gap in January...
The Bureau of Internal Revenue (BIR) has collected additional taxes from commercial establishments that were padlocked earlier for failing to either register or pay the correct amount of tax. In a statement, BIR Deputy Commissioner Arnel Guballa said they have collected a total...
Government debt stock breached the P10 trillion mark in October amid unprecedented borrowings for the coronavirus response, data from the Bureau of the Treasury showed. Total outstanding debt of the national government stood at P10.028 trillion as of October this year, up by 26.8 percent compared...
The Department of Finance (DOF) directed the tax authorities to assist the Department of Agriculture (DA) in investigating the alleged use of cooperatives by private traders as dummies for rice imports. In a statement, Finance Secretary Carlos G. Dominguez III said he ordered the Bureau of Internal...
The Duterte administration’s budget deficit is nearing the P1 trillion mark in January to October this year as the government continued to struggle in raising revenues due to the coronavirus-induced crisis. Data from the Bureau of the Treasury showed the national government incurred a P940.6...
The national government’s tax effort slipped in the first nine-months of the year after the coronavirus-induced crisis dragged down the Bureau of Internal Revenue (BIR) and Bureau of Customs collections....
As government sets to allow Filipino citizens to access online casino websites, the Department of Finance (DOF) is quick to remind operators that there is no tax distinction between onshore and offshore gaming operations. Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue...
EDITOR’S NOTE: This is an article from Charlie A. V. Gorayeb, national chairman of CREBA (Chamber of Real Estate & Builders’ Associations, Inc.) The Chamber of Real Estate & Builders’ Associations, Inc. (CREBA) has appealed anew for immediate government intervention against the...
After 9 months to Sept. The national government’s budget deficit slid in September this year as both revenues and spending contracted during the month, data from the Bureau of the Treasury showed. The Duterte administration incurred a P138.5 billion fiscal gap last month, down by 22 percent...
The national government’s two main tax agencies exceeded their revised collection target in the first eight-months of the year, but remained lower than last year’s performance, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue...
Government borrowings breached the P2 trillion mark in August this year as the Duterte administration needed funds to bridge the gap between its dwindling revenues and required spending level amid the coronavirus-induced recession....
President Rodrigo R. Duterte has approved the appointment of Finance Secretary Carlos G. Dominguez III as ex-officio chairperson of the Governing Board of the Philippine Tax Academy (PTA). Finance Secretary Carlos G. Dominguez III The appointments of Commissioner Caesar Dulay of the Bureau of...
