Political uncertainty in the Philippines could intensify as former President Rodrigo Duterte’s influence on voters grows, potentially diverting attention from tax reforms and the proposed ₱200 wage increase. According to the Netherlands-based financial giant ING, midterm elections usually have...
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...
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...
President Marcos’ newly appointed finance secretary, Ralph G. Recto, said he would ensure that the Maharlika Investment Fund (MIF) will “operate in fidelity with the law and fulfill its intended objectives.” The MIF, which is the country’s first wealth fund, is managed by the Maharlika...
The government plans to impose new and revised taxes to generate nearly P500 billion over the next three years, data from the Department of Finance (DOF) showed. Based on the DOF list of revenue measures submitted to Congress, the government has proposed eight tax initiatives that, once approved,...
The Department of Finance (DOF) urged local chief executives to rally behind its proposed legislative measures to help the country recover from the pandemic-induced economic crisis. Finance Secretary Carlos G. Dominguez III (Bloomberg file photo) During the webinar hosted by the Bureau of...
