The national government raised additional revenues from erring establishments that were padlocked after failing to either register or pay the correct taxes, the Department of Finance (DOF) said. In a report to Finance Secretary Carlos G. Dominguez III, the Bureau of Internal Revenue (BIR) said it...
The Department of Finance (DOF) ordered the Department of Trade and Industry (DTI) to return to the government coffers the P32.6 billion sitting idle in the state-owned Philippine International Trading Corp. (PITC). In a statement, Finance Secretary Carlos G. Dominguez III said he has...
The Department of Finance (DOF) has been warned that the financial liabilities of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) would swell because of the insufficient budget the national...
The Department of Finance (DOF) is hopeful that Congress could transmit to President Rodrigo R. Duterte its unified version of the corporate recovery and tax incentives for enterprises (CREATE) law within December. Finance Secretary Carlos G. Dominguez III said the immediate transmittal of the...
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 Department of Finance (DOF) sees the light at the end of the tunnel as the Senate is seen to pass the corporate recovery and tax incentives for enterprises (CREATE) bill before the Congress takes its traditional Christmas break in December. In a statement, Finance Secretary Carlos G. Dominguez...
The Department of Finance (DOF) has identified three sources of funds for the procurement of the coronavirus vaccines that will be given to priority sectors. In a report to President Duterte, Finance Secretary Carlos G. Dominguez III said the government would source the P73.2 billion COVID-19...
The Philippines is planning to tap South Korea for additional funding support for coronavirus response as well as development financing and push for the advancement of the two nation’s free trade negotiations, the Department of Finance (DOF) said. Following a recent lunch meeting between Finance...
The government’s plan to maximize the use of digital payment solutions for tax collections would face headwinds due to several issues hounding the Philippines, the state-run think tank National Tax Research Center (NTRC) said....
The Department of Finance (DOF) challenged the Climate Change Commission (CCC) to call for justice before the international community as the Philippines continues to bear the devastating impact of global warming. Even the Philippines is among the world’s lowest emitters of greenhouse gases,...
The Philippines’ fiscal response is on track to support the economy, but the government needs to address the stagnant consumer confidence that places a drag on the pace of the nation’s recovery, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the country’s...
Finance Secretary Carlos G. Dominguez III said they are evaluating this year’s national budget to determine whether there is need to augment it to help the victims of the recent typhoons that ravaged Luzon and parts of the Visayas. “We are in the process of evaluating the damage of the series...
