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 unprecedented challenge brought by the pandemic underscored the importance of “greater solidarity and stronger collaboration among nations” to overcome the crisis and return to the path of strong global growth. Finance Secretary Carlos G....
The Asian Development Bank (ADB) downgraded its growth forecast for the Philippines as the nation struggled in containing the coronavirus outbreak that hampered economic recovery. Based on ADB’s Asian Development Outlook update, the Manila-based multilateral institution has projected that the...
Climate-related challenges remain formidable threats to the Philippines’ gradual recovery from the prolonged coronavirus pandemic, the Department of Finance (DOF) said. Speaking at a virtual World Bank forum, Finance Secretary Carlos G. Dominguez III acknowledged the urgency of implementing...
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) 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 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 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...
The Department of Finance (DOF) has extended the payment of all local taxes, fees and charges imposed by local government units (LGUs) until mid-December to ease the burden on individuals and businesses affected by the community quarantines. In a statement, Finance Secretary Carlos G. Dominguez III...
Taxation is not causing oil refiners to go out of business, the Duterte administration’s chief economic managers maintained. Finance Secretary Carlos G. Dominguez III...
