Finance Secretary Ralph G. Recto The Department of Finance (DOF) has released new revenue regulations to simplify the process for private entities to avail of tax incentives, aiming to boost investments in education and human capital development. In a statement, Finance Secretary Ralph G. Recto...
Idle government assets valued at over ₱600 million will be re-advertised for sale through negotiated sales, after receiving no bids or offers in early April. The Privatization and Management Office (PMO), a Department of Finance (DOF)-attached agency, told Manila Bulletin on Friday,...
Department of Finance Secretary Ralph Recto and BCCP Executive Chairman Chris Nelson Department of Finance Secretary Ralph Recto welcomed British Chamber of Commerce Philippines (BCCP) Executive Chairman Chris Nelson in its recent courtesy visit on April 7, 2025. The visit is a testament to the...
The World Bank would greenlight a $700-million (over ₱40-billion) loan for the Philippines in July, aimed at making local communities more resilient to natural disasters. According to a World Bank appraisal project information document dated April 8, the objective of the upcoming Philippines...
March’s nearly five-year low inflation was particularly a boon to the country’s poorest households, whose price increase rate was even slower at 1.1 percent, prompting the government to push for measures that would sustain the easing of the vulnerable sector’s burden. “The lower food...
The government remains confident in achieving its over ₱101-billion privatization revenue target for 2025, following new guidelines that paved the way for the first-ever unsolicited bid for an idle asset, according to the Department of Finance (DOF). “We received our first unsolicited offer...
The country’s leading business groups and foreign chambers are urging the Marcos administration’s chief economic manager to defer the implementation of an inter-agency pre-border inspection policy, warning that it may discourage trade to the Philippines. In a March 26 letter addressed to...
The International Monetary Fund (IMF) has urged the Department of Finance (DOF) to enhance its macroeconomic forecasting model as it said the agency lacks a comprehensive system for consistent policy analysis and forecasting. This followed the IMF's recent scoping mission in the Philippines...
Finance Secretary Ralph G. Recto The Philippines has officially launched a value-added tax (VAT) refund system for foreign tourists, aiming to significantly boost tourism revenue by encouraging increased spending on local goods. According to the Department of Finance (DOF), the refund scheme...
The Department of Finance (DOF) is still considering slapping carbon tax as long as it won’t hike energy prices and instead facilitate the entry of green or environmentally sustainable investments. In a March 21 statement, the agency said it is working with the Washington-based multilateral...
Finance Secretary Ralph G. Recto President Marcos’ chief economic manager and representative in the Monetary Board (MB) has projected a 75-basis point (bp) reduction in the central bank’s interest rates this year, anticipating this would catalyze economic growth to seven percent or...
Finance Undersecretary Catherine Fong Despite modest privatization earnings in January, the government remains confident that revenues from asset sales will exceed ₱40 billion this year, keeping it on track to meet its ambitious ₱101 billion full-year target. “Let’s see” was Finance...
