The government does not see another implementation of a price ceiling on rice this year as it bids to increase the country’s farm output to tame inflation, Finance Secretary Ralph G. Recto said Wednesday. Recto, however, also acknowledged the possibility of supply disruptions due to external...
The Department of Finance (DOF) said it will not seek the imposition of additional taxes this year and will instead temper tax hikes such as the proposed motor vehicles tax. “Frankly speaking, there are no plans of imposing additional new taxes. I think our first job is to collect what is on the...
Finance Secretary Ralph G. Recto has dismissed worries about the country's ballooning debt stock, affirming the government's capability to meet all maturing financial obligations. Recto said that the current total government debt, which amounted to P14.51 trillion as of November last year,...
Department of Finance (DOF) Secretary Ralph G. Recto on Wednesday revealed that they are no longer pursuing the tax reform on junk food and sweetened beverages due to a higher inflationary environment In a joint press conference with the Bureau of Customs and the Bureau of Internal Revenue, Recto...
The Department of Finance (DOF) has vowed to prioritize efforts aimed at curbing the elevated consumer prices that are impeding the country's economic growth and hindering the generation of additional government revenues. In a briefing on Wednesday, Jan. 24, Finance Secretary Ralph G. Recto said...
E-cigarette and vape manufacturers and distributors in the country are in favor of the Department of Finance's (DOF) efforts to improve tax collection efficiency and pursue tax evaders, including those involved in the vapor products sector. In a statement, Joey Dulay, Philippine E-cigarette...
Finance Secretary Ralph G. Recto met with the government’s tax collectors to discuss strategic plans to achieve the Marcos administration's target of generating P4.3 trillion in revenues this year. On Tuesday, Jan. 23, Recto held a meeting with the Bureau of Internal Revenue's (BIR) management...
The Department of Finance (DOF) said the Philippines is committed to providing a welcoming environment for potential investors from the United States, symbolically represented by the concept of rolling out a "red carpet." In a statement, Finance Secretary Ralph G. Recto has assured US officials of...
BSP Governor Eli M. Remolona (left) swore in Finance Secretary Ralph G. Recto as a new member of the Monetary Board during a ceremony at the BSP headquarters in Manila on Monday, Jan. 22, 2024. Finance Secretary Ralph G. Recto has formally assumed the role of the government's representative to...
The Department of Finance (DOF) announced that the national government plans to borrow from small Filipino investors in the first three months of the year to cover its budget shortfall. In statement on Friday, Jan. 19, the DOF has stated that the Bureau of the Treasury is preparing to issue another...
Finance Secretary Ralph G. Recto has urged Congress to work with the Department of Finance (DOF) to quickly pass key reforms necessary to lower the government’ budget deficit and debt levels. Recto, who served as a legislator in both the upper and lower houses, said that the DOF is currently...
The Department of Finance (DOF) has reported that the law providing tax relief for eligible companies has resulted in the creation of over 100,000 jobs for Filipinos since its implementation two years ago. Data from the DOF showed that total approved investments under the Corporate Recovery and Tax...
