The government is looking at India and Japan for funding the three railways projects formerly funded by China, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said Japan and India are being eyed to support the Subic-Clark Railway, Philippine National Railways (PNR) South...
Finance Secretary Benjamin E. Diokno believes that borrowing costs in the country have hit a ceiling. On the sidelines of the Retail Dollar Bond 2 listing on the Philippine Dealing and Exchange Board on Monday, Nov. 6, Diokno stated that there is no rationale to warrant a further increase in...
The government’s plan to raise $1 billion through Sharia-compliant or Sukuk bonds will still push through by end-November despite the Israel-Hamas conflict. Finance Secretary Benjamin E. Diokno told reporters in an interview on Monday, Nov. 6, that the government is targeting to issue the...
The Department of Finance (DOF) has announced that the Bureau of Internal Revenue (BIR) and the Bureau of Customs will further intensify their administrative measures to collect more taxes and duties. In a statement, Finance Secretary Benjamin E. Diokno said the government's two main tax agencies...
The Department of Finance (DOF) said the sustained positive trend in tax collections and government spending for the remaining months of the year will have a substantial impact on the country's economic activity. On Tuesday, Oct. 31, Finance Secretary Benjamin E. Diokno asserted that there are...
Finance Secretary Benjamin E. Diokno has commended the local treasurers all over the country as they embark on playing a crucial role in the success of the Barangay and Sangguniang Kabataan (BSK) elections on Monday, Oct. 30. “Today marks a significant moment as we step out to exercise our right...
The new law on the automatic income classification of local government units (LGUs) will help ensure the fiscal sustainability and revenues of local governments, the Department of Finance (DOF) said. Republic Act No. 11964 or the Automatic Income Classification of Local Government Units Act updates...
The Department of Finance (DOF) said that strengthening public-private partnerships (PPP) would help finance digital infrastructure projects and ease the government's financial burden. On Thursday, Oct. 26, Finance Secretary Benjamin Diokno presented the strategies of the Philippine government to...
An agreement of €60 million in funds was signed by the European Union and the Philippines to assist the latter in transitioning towards a sustainable economy. During the Global Gateway Forum in Brussels on Wednesday, Oct. 25, the European Union (EU) and the Philippines signed the financing deal...
President Marcos’ chief economic manager has pitched investment opportunities in the Philippines to leaders of Luxembourg-based funds and business groups. During the Business Forum and Networking Lunch hosted by the Luxembourg Stock Exchange (LuxSE), Finance Secretary Benjamin E. Diokno...
The Department of Finance (DOF) has reported that the application for tax incentives for 45 projects, with a combined investment capital of P721.3 billion, has been approved by the Fiscal Incentives Review Board (FIRB). In a statement on Wednesday, Oct. 25, the DOF said these projects are...
The Department of Finance’s (DOF) threw its support behind the proposed amendments to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law to harness the Philippines’ potential as a global investment hub. In a statement on Wednesday, Oct. 25, Finance Secretary Benjamin E....
