BDO Leasing & Finance, Inc. (BLFI) registered net income of P39.8 million in the first nine months of 2021 even though it has stopped operations since last year. In a disclosure to the Philippine Stock Exchange, the firm said the earnings were derived solely from fair value gain from...
The Philippines has called on Western economies to act now in significantly reducing their carbon footprints, and make good on their commitments to extend the financing needed by climate-vulnerable countries to transition to a clean energy future. Speaking at the 2021 Asian Infrastructure...
The Climate Change Commission (CCC) wants to integrate climate indicators in the evaluation of government projects and provide localized data especially to highly vulnerable local government units (LGUs). In a statement, Finance Secretary Carlos G. Dominguez III, who is CCC chairman-designate, said...
The Asian Infrastructure Investment Bank (AIIB) has vowed to align its operations with the goals of the Paris Agreement as the Beijing-led lender raises its annual climate finance commitments. Currently, the China-led AIIB estimated its cumulative climate finance approvals to reach $50 billion by...
Opposition lawmakers on Tuesday, Oct. 26 urged leaders of the House of Representatives to prioritize the passage of a bill that seeks to repeal the law imposing excise tax on oil products. Makabayan bloc2 House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate and ACT Teachers...
Finance Secretary Carlos G. Dominguez III has instructed the Bureau of Internal Revenue (BIR) to set up a unit dedicated to track sales of goods done online and to coordinate with their counterparts in other countries to determine how to properly tax these digital transactions. BIR Commissioner...
The Bureau of Local Government Finance (BLGF) continued to carry out its role of helping improve the fiscal position of the local government units (LGUs) by professionalizing the country’s local treasury service. In a statement Monday, Oct. 25, Niño Raymond Alvina, BLGF executive director, said...
The continued recovery of foreign direct investment (FDI) this year is an indicator of the Philippines’ solid long-term prospects, the Department of Finance (DOF) said. Based on the latest DOF economic bulletin, the department noted that the country’s FDI sustained its robust growth in January...
Collections of the government’s two main tax agencies surpassed the P2-trillion mark in the first nine months of the year, nearing the pre-pandemic level, the Department of Finance (DOF) reported Friday, Oct. 22. Finance Secretary Carlos G. Dominguez III said tax haul of the Bureau of Internal...
Senator Sonny Angara on Friday, Oct. 21 urged authorities and local governement officials to go the extra mile and accelerate efforts to reach out to the elder population, of which a significant portion of them remains unvaccinated to this day. Citing World Health Organization (WHO) report, Angara...
Real property valuations of local government units (LGUs) are not increasing fast enough to keep up with the market values of land in the country, the Asian Development Bank (ADB) said. During the virtual Bureau of Local Government Finance (BLGF) webinar Thursday, Oct. 21, Jose Antonio Tan III, ADB...
Revenue collection from imported rice increased this year despite decline in the price of the staple food in the world market, the Department of Finance (DOF) reported Thursday, Oct. 21. Based on the Bureau of Customs report submitted to the DOF, the agency collected P14.3 billion in rice duties...
