The Department of Finance (DOF) has stressed the importance of determining the most efficient and economically viable approach to carbon taxation before introducing it in the Philippines. Finance Secretary Ralph G. Recto said on Tuesday, Jan. 16, that it is vital to find the most suitable way to...
Finance Secretary Ralph G. Recto has chosen to retain all officials of the Department of Finance (DOF) in their current roles as he assumes one of the most challenging positions in the government. In a Department Order No. 03-2024 signed by Recto on Monday, Jan. 15, the finance chief made a single...
The Secretary of Finance (SOF) needs to build a strong relationship with the president, make decisions based on what is best for the country, and be skilled at negotiating and working with lawmakers. Former officials from the Department of Finance (DOF) said that having the trust and support of the...
Newly-appointed Finance Secretary Ralph G. Recto has set his sights on a daily haul of around P20 billion to meet the spending needs of the Marcos administration for this year. In a briefing at Malacanan with President Marcos after being sworn in, Recto said that his top priority is to raise P4.3...
The Bankers Association of the Philippines welcomed the appointment of Rep. Ralph Recto as Secretary of the Department of Finance while thanking former Finance chief Benjamin Diokno for his years of government service. In a statement, BAP said “Secretary Recto is equipped with the necessary...
Former senator and current House Deputy Speaker Ralph Recto is “unquestionably” the perfect choice as the new Department of Finance (DOF) secretary and a welcome addition to the Marcos administration’s economic team. “As the Marcos administration works towards reviving our economy...
The departure of Benjamin E. Diokno from the Cabinet marked the end of two consecutive administrations where the finance secretary completed the full six-year term alongside the president. The post of Secretary of Finance (SOF) is widely regarded as one of the most influential positions in the...
The Department of Finance (DOF) is gearing up for the arrival of its new boss, and there is a whisper of hope that the incoming secretary might bring along an important person on his first day. “Sana kasama si Ate Vi [I hope Ate Vi comes along],” quipped a long-time DOF staffer who asked to...
The Department of Finance (DOF) is bullish on the country's improving unemployment numbers due to the government's robust strategy for creating jobs and driving investments. In a statement, Finance Secretary Benjamin E. Diokno expressed confidence that achieving an unemployment rate of four percent...
President Marcos has signed the Ease of Paying Taxes (EOPT) Act, also known as Republic Act No. (RA) 11976, last Jan. 5, marking a significant step in the modernization of the Philippine tax system and the reinforcement of taxpayer rights. Here, the Department of Finance outlined the...
The Department of Finance (DOF) reported a substantial increase in dividends remitted by state-run companies last year, with over half of the total amount came from the Bangko Sentral ng Pilipinas (BSP). Data from the DOF showed that government-owned or -controlled corporations (GOCCs) sent a total...
The Department of Finance (DOF) announced that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act has already attracted over a trillion pesos in investment capital. According to a Facebook post by the DOF, projects approved under the CREATE Act, which aims to address...
