The Department of Finance (DOF) assured that the government will practice prudence in granting regulatory relief to projects deemed critical to the Philippines’ economic recovery. In a statement, Finance Secretary Carlos G. Dominguez III said the DOF-led committee tasked to identify qualified...
The Department of Finance (DOF) thanked Japan for quickly disbursing another disaster response loan that aims to support ongoing government efforts to rehabilitate areas and help families affected by the series of powerful typhoons in the final months of last year. Finance Secretary Carlos G....
The Department of Finance (DOF) said it will comply the Supreme Court’s order barring the imposition of franchise tax on all bets generated by Philippine offshore gaming operations (POGOs) Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue (BIR) will halt the...
State-lender Land Bank of the Philippines further increased its loan releases to agriculture sector in November last year, the Department of Finance (DOF) announced. In a statement, the DOF said that Land Bank disbursed additional P1.44 billion worth of loans to farmers, agribusiness enterprises...
The governments of the Philippines and India plan to explore ways of enhancing economic cooperation, especially in the areas of “financial and digital technologies” as well as infrastructure development. In a statement, the Department...
Dividends remitted by government-owned or controlled corporations (GOCCs) nearly doubled this year that helped the country’s efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals. Data from the Department of Finance (DOF) showed that...
The Philippines and Japan have reaffirmed their commitment to further build on their strong economic partnership, which includes plans to expand Japanese investments in the country following favorable developments on a tax reform measure. Newly designated Japan Ambassador to the Philippines...
The Department of Finance (DOF) said the country’s economic recovery is “not smooth” due to continued restrictions that dampened consumer and investor sentiment. In his latest economic bulletin, Finance Undersecretary and Chief Economist Gil S. Beltran explained that consumers and investors...
State-lender Land Bank of the Philippines (Landbank) is on track to hit its target on agriculture sector loans for this year in line with President Duterte’s order to intensify its support to local farmers. In a report submitted to the Department of Finance, Cecilia Borromeo, Landbank...
The Social Security System (SSS) said the scheduled increase in the monthly contribution of members starting next year will ensure the long-term viability of the pension fund and increase the benefits to be enjoyed by them and their beneficiaries. In a statement released by the...
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 Department of Finance (DOF) has extended the deadlines for availing of the tax amnesty on delinquencies (TAD) as well as voluntary assessment and payment program (VAPP). In a statement, the DOF said that it issued Revenue Regulations (RR) Nos. 32-2020 and 33-2020 to effectively extend the...
