Senate Minority Leader Franklin Drilon on Tuesday reminded that the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) has the prerogative to suspend the collection of fuel excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) law to cushion the impact of the...
The Bureau of Customs has seized P769.67 million-worth of goods in less than two months, mostly illicit shipments of vehicles, cigarettes and other tobacco products, as well as illegal drugs, the Department of Finance (DOF) said. In a statement released by the DOF Monday, March 7, the Customs...
The Department of Finance (DOF) expects the country’s high growth in foreign direct investments (FDIs) to be sustained following the enactment of economic liberalization reform laws. In his DOF Economic Bulletin on Sunday, March 6, Finance Chief Economist Gil S. Beltran said the more than half...
Leading oil industry player Petron Corporation has landed again in the roll of the Bureau of Customs (BoC) as among its top taxpayers as well as importer of fuel commodities last year. In a statement to the media, Petron noted that it has been “consistently ranked as the highest contributor to...
The Department of Finance (DOF) vowed the government’s quick return to fiscal consolidation following the massive spike in budget deficit and debt ratios due to the pandemic-induced recession. At the 2022 Bureau of the Internal Revenue (BIR) National Tax Campaign Kickoff on Thursday, March 3,...
The Insurance Commission (IC) has placed another pre-need firm under conservatorship due to trust fund deficiencies, the Department of Finance (DOF) said on Thursday, March 3. In a statement released by the DOF, the IC said the agency ordered Eternal Plans Inc. (EPI) to be placed under...
Further loosening of quarantine measures in the final month of last year ushered in 797,000 additional jobs, the Department of Finance (DOF) said. In his latest DOF economic bulletin, Finance Chief Economist Gil S. Beltran said Wednesday, March 2, that loosened lockdowns generated more economic...
The government should suspend the excise tax on oil to cushion the effects of the tension between Russia and Ukraine on the price of commodities, Senator Francis “Kiko” Pangilinan said on Monday, Feb. 28. Senator Francis “Kiko” Pangilinan (TRoPa2022) Pangilinan, a vice presidential...
Two years following its merger, state-run firm Philippine Guarantee Corp. (PHILGUARANTEE) spearheaded in its performance during the second year of the pandemic, with net income jumping by almost two-fold, the Department of Finance (DOF) reported. PHILGUARANTEE is the result from the merger of two...
Finance Secretary Carlos G. Dominguez III has called on the media to help accelerate climate action in the country by spearheading the education and advocacy campaigns necessary to motivate Filipinos to be at the frontlines of the global fight against climate change. With media playing an...
The next administration needs to make great efforts in reducing the poverty incidence in the country after it accelerated amid the more than two year-pandemic, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III, the government’s chief economic manager, said the next...
Finance Secretary Carlos G. Dominguez III pitched before American investors Thursday night (Manila time), Feb. 24, the Philippines as a growth leader in the region and a reliable host for international partnerships. At a briefing for American business leaders and policy makers, Dominguez said the...
