The Department of Finance (DOF) said President Duterte has now accomplished eight tenths of his economic reform program that provided income tax cuts for individuals and corporations. In a statement, Finance Secretary Carlos G. Dominguez III said Wednesday, July 28, that 85 percent of the Duterte...
Senator Sonny Angara on Wednesday said the proposed 2022 national budget should provide the necessary items that would pave the way to national recovery from the coronavirus (COVID-19) pandemic. Angara, who chairs the Senate Committee on Finance, said President Duterte’s last budget request...
Since it’s maiden public offering 30 years ago, the market capitalization of real estate giant Ayala Land Inc. has ballooned to over P500 billion from P42 billion, making ALI among the largest companies in the Philippine Stock Exchange Index. The Philippine Stock Exchange, Inc. (PSE) and ALI have...
World Bank’s investment-arm International Finance Corp. (IFC) is investing in Union Bank of the Philippines’ “social bond” that aims to finance loans to micro, small and medium-sized enterprises (MSMEs). In a statement, Alfonso Garcia Mora, IFC Asia and Pacific vice president, said Friday,...
The Department of Finance (DOF) is crafting “a playbook” that the next administration may consider to relieve the fiscal stress caused by the prolonged pandemic on the national government. With less than a year left before President Duterte's term ends in June next year, Finance Secretary...
Demand for flexible work space in the Philippines is driven by business services, finance, pharmaceuticals, and technology, as more companies implement flexibility measures and explore opportunities for expansion in the country and in the Southeast Asia region. Balder Tol, general manager for...
Some senators on Thursday have called on the country’s banks to take responsibility for the operations of their “cash agents” to make sure that the banking public is protected, especially those who rely on “padala” or money sent by relatives to help them get by during the coronavirus...
Most local executives remained heavily dependent on income they received from the national government to fund their operations, data from the Department of Finance’s (DOF) Bureau of Local Government Finance (BLGF) revealed. Based on the latest operating income reports submitted by local...
The government incurred hefty foregone revenues due to fiscal incentives enjoyed by favored enterprises one year before the landmark congressional approval of the corporate recovery and tax incentives for enterprises (CREATE) law. According to the report submitted by the Department of Finance -...
The Philippines and Brunei Darrusalam have signed an agreement aimed at eliminating double taxation and preventing fiscal evasion on taxes on income arising from cross-border transactions between the two Southeast Asian nations. The agreement was signed by Finance Secretary Carlos G. Dominguez III...
The Department of Finance (DOF) expects the elevated rate of increase in food prices would peak this month due to rising volume of meat imports that boosted domestic supply. In a statement on Wednesday, July 14, Finance Undersecretary and Chief Economist Gil S. Beltran said that food price...
State-run National Transmission Corp. (Transco) plans to remit the company’s entire profit to the government’s coffers to help fund the country’s coronavirus response programs, the Department of Finance (DOF) revealed. In a statement, the finance department said on Tuesday, July 13, that...
