The modified tariff rates on imported pork products and rice have resulted in foregone revenues for the government, but the Department of Finance (DOF) said the economic benefits far outweigh the costs. Peso Finance Undersecretary Antonette C. Tionko said the government is projected to lose P5.4...
The Delta variant-driven lockdowns imposed to curb the spread of the virus triggered the Development Budget Coordination Committee (DBCC) to significantly slash its economic growth outlook for the year. The DBCC, an inter-agency body tasked to set the country’s macroeconomic targets, further...
The Philippine Health Insurance Corp., commonly known as PhilHealth, may need to revise its coverage as the state-run company struggles to pay off its debt, the government’s chief economic manager said. PhilHealth Finance Secretary Carlos G. Dominguez III said that PhilHealth’s massive spending...
The Development Budget Coordination Committee (DBCC), an inter-agency body tasked to set the government’s macroeconomic targets, will meet tomorrow, Wednesday, August 18, to reassess the country’s recovery amid the mutating coronavirus. Finance Secretary Carlos G. Dominguez III But ahead of the...
The Bureau of Internal Revenue (BIR) would dig deep into the world of marketing to unearth social media influencers who are earning huge income without paying taxes, the Department of Finance (DOF) said. BIR LOGO Finance Undersecretary Antonette C. Tionko said Tuesday, August 17, that the issuance...
The Insurance Commission (IC) wants to remove variable insurance products from the list of mutual fund schemes to avoid increasing costs for consumers and defeating the goal of financial inclusion for all Filipinos. Sec. Dominguez and Comm. Funa In a letter to Finance Secretary and Capital Market...
The reimposition of stricter movement restrictions will put further pressure on the local labor market that gingerly recovered with the easing of quarantine measures since April, the Department of Finance (DOF) said. In an economic bulletin, Finance Undersecretary Gil S. Beltran said the two-week...
The Department of Finance (DOF) said the growing roster of real estate investment trust (REIT) offerings will propel the growth of the Philippines’ property sector beyond the pandemic, serving as one catalyst for the country's quick and strong recovery. In a statement, Finance Secretary Carlos G....
The House of Representatives has responded positively to President Rodrigo Duterte’s appeal for the passage of a bill that would help ensure sufficient medical oxygen supply by exempting its importation from taxes. Oxygen tanks Albay Rep. Joey Sarte Salceda (2nd district, Albay) filed on...
The government’s chief economic manager said the country’s recovery remains “promising” despite “speed bumps” this year. Finance Secretary Carlos Dominguez III Finance Secretary Carlos G. Dominguez III said he is still optimistic over the Philippines’ “promising” prospects for a...
Job creation and poverty alleviation will be a major challenge for the government next year as the Department of Finance (DOF) admitted that uncertainly about the economic recovery will remain until the pandemic is contained. DOF Building in Manila Based on the DOF’s “Macroeconomic Framework...
The Overseas Filipino Bank (OFBank) does not have to remit dividends from its 2016 earnings to the national government after President Duterte issued an order cutting its dividend rate. President Rodrigo Duterte (File photo/Malacañang) Under Executive Order No. 146, the President adjusted the...
