Finance Secretary Frederick D. Go pushes for the extension of the estate tax amnesty to the end of 2028, which could generate additional revenue while easing the burden for Filipinos settling their debts on inherited properties. This measure is among the priority tax measures the Department of...
Malacañang said it respects the Supreme Court 's decision to return the P60-billion excess funds to the Philippine Health Insurance Corporation’s (PhilHealth). "We respect the decision of the Supreme Court. The Office of the Solicitor General will review the ruling and decide on the...
A move is underway in the Senate to lower the value-added tax (VAT) imposed on purchased goods and services. Under Senate Bill No. 1552 filed by Senator Erwin Tulfo, Section 106 of the National Internal Revenue Code would be amended to bring down the current 12 percent VAT to 10 percent. The...
The Department of Finance (DOF) announced the immediate and temporary suspension of all field tax audits and related operations, citing widespread taxpayer concerns over “potential abuse” and irregularities in the issuance of audit documents. In a statement on Monday, Nov. 24, Finance Secretary...
Makati City Mayor Nancy Binay has signed the city 's budget for next year worth P21 billion, reinforcing the city’s commitment to delivering efficient, people-centered, and future-ready programs for all residents. Several local government officials were also present during the event...
Following the destructive typhoons that hit the Philippines, the national government is gearing up to tap half a billion dollars in climate funding from the Washington-based World Bank. According to the Department of Finance’s (DOF) Facebook post on Thursday, Nov. 20, the national government is...
President Marcos administered the oath of office of new Executive Secretary Ralph Recto and new Department of Finance (DOF) Secretary Frederick Go, formalizing key changes in his economic and administrative team. The two officials took their oaths at the Study Room in Malacañan on Wednesday, Nov....
HONG KONG — Metro Pacific Investments Corp. (MPIC) may hold off on its planned divestment from Light Rail Manila Corp. (LRMC) after the government immediately opened talks to address its obligations to the company. LRMC President and Chief Executive Officer Enrico Benipayo told MPIC Chairman...
The Makati City local government was recognized by the Department of Finance 's (DOF) Bureau of Local Government Finance (BLGF) on Wednesday, Nov. 5, as one of the top-performing cities in the country for Finance Year 2024. Makati Mayor Nancy Binay said the city was ranked among the Top 10...
Despite the nearly two percent hike in foreign borrowings, the national government’s outstanding debt fell to ₱17.455 trillion in September, though officials warned that further reductions will depend heavily on the peso’s strength against the United States (US) dollar. National Treasurer...
The Department of Finance – Bureau of Local Government Finance (DOF-BLGF) recognized the San Juan City government for its outstanding performance for Fiscal Year (FY) 2024, San Juan City Mayor Francis Zamora announced on Sunday, Oct. 26. Zamora said the city was cited as one of the...
To account for rising consumer prices and living costs, the Department of Finance (DOF) and its attached agency, the Bureau of Internal Revenue (BIR), are seeking to raise the ceiling for tax-exempt benefits and allowances enjoyed by both private- and public-sector workers. “Under this proposal,...
