Finance Secretary Carlos G. Dominguez III has received reports that some Bureau of Internal Revenue (BIR) personnel have allegedly harassed a number of businesses to raise money for the Department of Finance (DOF) chief’s parting gift. A “pabaon” to be given prior to his retirement on June 30...
Investors and enterprises can now access the Fiscal Incentives Registration and Monitoring System (FIRMS), an online registration where investors can monitor their submitted applications for tax incentives, the Department of Finance (DOF) said. Finance Assistant Secretary and Fiscal Incentives...
The Bureau of the Internal Revenue (BIR), the government’s main tax agency, missed its collection goal in the first-quarter due to higher availment of input value-added tax (VAT) credits by businesses. In a statement released by the Department of Finance (DOF) on Sunday, May 22, the bureau...
The Department of Finance (DOF) has ordered the suspension of the special audit task forces of the Bureau of Internal Revenue (BIR) for causing uncertainty for some taxpayers. Finance Secretary Carlos G. Dominguez III said Revenue Special Orders (RSOs) and Operations Memoranda (OMs) have resulted...
Gov’t earns P46 B from rice reform bY Chino S. Leyco Forty-six billion pesos, that was the amount earned by the national government since the law liberalizing rice trading was implemented three-years ago, the Department of Finance (DOF) emphasized. Finance Secretary Carlos G. Dominguez III...
The national government has paid in full its P300 billion loan with the Bangko Sentral ng Pilipinas (BSP), well ahead of the maturity date next month, the Department of Finance (DOF) announced. In a statement, Friday, May 20, Finance Secretary Carlos G. Dominguez III said the repayment of the...
The Department of Finance has warned the Philippine Crop Insurance Corp. (PCIC) as well as other government agencies to stop the practice of allowing foreign consultants to offer projects that only serve their personal interests rather than the interest of the government and Filipinos. During a...
The Bureau of Internal Revenue (BIR) will monitor the compliance of outsourcing companies in economic zones with the onsite work policy of the Fiscal Incentives Review Board (FIRB), the Department of Finance (DOF) said. A BIR task force has been created to ensure that registered business...
Finance Secretary Carlos G. Dominguez III said the Philippines is looking forward to future initiatives under the umbrella of the ASEAN Plus Three (China, Japan, Korea) cooperation to help accelerate the country’s shift from coal to sustainable energy sources. On behalf of the Philippine...
In the Philippines, many adult Filipinos still find it difficult to apply for loans. However, the heavy demand for digital transactions and experiences, accelerated by the Covid-19 pandemic, brought opportunities that led to revolutionizing lending to unbanked Filipinos towards a more...
BDO Unibank, Inc. (BDO) has raised $100 million from the issuance of its maiden Blue Bond through an investment from the International Finance Corporation (IFC). In a statement, the bank said this issuance will expand financing for projects that help prevent marine pollution and preserve clean...
High debt load and low revenue collection will become bottlenecks to the country’s return to a rapid and sustainable economic growth path, the Department of Finance (DOF) said. As the government transitions to the next administration, Finance Chief Economist Gil S. Beltran said that fiscal...
