Local businesses can now adopt work-from-home setups without losing valuable tax incentives as the newly enacted Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act officially permits flexible work arrangements. The...
Multiple reports of violators on the EDSA busway seemed to prompt Senator Raffy Tulfo to ask the Metropolitan Manila Development Authority (MMDA) the question: "Where are your big bikes for catching violators?" He brought this up during the plenary budget deliberations led by Senate Committee on...
Soaring interest payments, especially for debts that piled up to fight the Covid-19 pandemic, may slow down fiscal consolidation or budget-deficit reduction in the Philippines, according to the think tank Oxford Economics. "Because government deficits have ballooned quickly in the last few years, a...
The Senate is keen on scrutinizing once again all funds allocated for flood control mitigation but there is a necessity to also inquire into the government’s programs on climate change and climate adaptation, Senate President Francis “Chiz” Escudero said on Sunday, November 3. The...
The Marcos administration is actively courting British investors, encouraging them to choose the Philippines as the location for their business expansion, the Department of Finance (DOF). Among the prominent British companies that the delegation engaged with were Actis, BP Plc, Global...
The Philippines needs to keep pursuing tax reform measures pending in Congress en route to its plan to narrow its yawning budget deficit, according to the World Bank. In its Philippines Monthly Economic Developments report for October 2024, the World Bank noted that the fiscal deficit as a share of...
By DERCO ROSAL Department of Finance (DOF) Secretary Ralph G. Recto has secured the support of London executive Alderman Michael Mainelli to boost the Philippines’ ambitions in artificial intelligence (AI) and climate finance. On the sidelines of the Philippine Economic Briefing in London, Oct....
Asialink Finance Corporation has secured a P1 billion credit line facility from Maybank Philippines to help provide financing options for micro, small, and medium enterprises (MSMEs). In a statement on Wednesday, Oct. 30, Asialink said the partnership aims to accelerate its loan disbursements and...
By DERCO ROSAL Finance Secretary Ralph G. Recto said that the Department of Finance (DOF) will abide by the Supreme Court’s (SC) temporary restraining order (TRO) that halts the utilization of Philippine Health Insurance Corp.’s (PhilHealth) idle, unused, and excess funds. On Tuesday, Oct. 29,...
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...
State-run Social Housing Finance Corporation (SHFC) has declared a one-month moratorium on monthly payments for beneficiaries affected by Tropical Storm Kristine. In a statement, Federico A. Laxa, SHFC president and chief executive officer, said the initiative aims to provide immediate financial...
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...
