By DERCO ROSAL The Philippines is poised for potential credit rating upgrade given the country’s resilient economy and positive growth outlook, global banking giant Citi executives stated. “Citi executives expressed confidence that the country is well-positioned for a credit...
The Department of Finance (DOF) said that the US Department of the Treasury has vowed to support the country’s efforts to strengthen its tax and customs administration system. The DOF said the commitment was made by US Treasury Undersecretary Jay C. Shambaugh and other senior officials during a...
The Department of Finance (DOF) has assured the public that the national government is fully prepared financially to support relief and rehabilitation efforts in areas impacted by the devastation of Typhoon Kristine. Finance Secretary Ralph G. Recto said the government has adequate funds available...
By DERCO ROSAL Amid concerns about a potential Donald Trump victory and its impact on global trade, President Marcos’ chief economic manager expressed optimism about the Philippines' strong relationship with Washington and projected a surge in investment from US companies. In a briefing in...
The Bureau of Customs (BOC) has confiscated P72.1 billion worth of smuggled goods in the first 10 months of 2024, exceeding its total seizures of P43.29 billion from the previous year. At the BOC’s Inter-Agency Intelligence Summit on Oct. 18, Customs Commissioner Bienvenido Y. Rubio credited the...
By DERCO ROSAL After securing the deal, President Marcos’ chief economic manager stated that South Korea’s funding for three major infrastructure projects will create more jobs and expand businesses in the country. “Beyond enhancing mobility, they will create jobs, spur businesses, boost...
The Department of Finance (DOF) expects to generate P102.12 billion over the next five years from a new law that imposes a 12-percent value-added tax (VAT) on both local and foreign digital service providers (DSPs). According to the DOF, the estimated revenues to be collected from 2025 to 2029 will...
President Marcos' chief economic manager expects further appreciation of the peso against the US dollar, driven by increased remittance inflows during the upcoming holiday season. In a briefing on Tuesday, Sept. 24, Finance Secretary Ralph G. Recto explained that the local currency typically...
The Department of Finance (DOF) has assured Singaporean investors that the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law will simplify doing business in the Philippines, streamline processes and reduce red tape....
San Miguel Corp.’s New NAIA Infra Corp. (NNIC) has remitted its upfront payment for the Ninoy Aquino International Airport (NAIA) public-private partnership (PPP) project, the Department of Finance (DOF) said. In a statement, Finance Secretary Ralph G. Recto said the P30 billion payment, made...
The Asian Development Bank's (ADB) new Country Partnership Strategy (CPS) to help support the Philippines in its goal to lift an additional eight million Filipinos out of poverty by the end of President Marcos Jr.'s term, the Department of Finance (DOF) said. “It was the Marcos, Jr....
The Department of Finance (DOF) expects that the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) will enhance tax administration in the country. This was after the Senate had recently approved the Philippines' participation in the MAAC, a global agreement for tax cooperation,...
