The Department of Finance (DOF) maintained that the government should continue the more targeted approach of fuel subsidy as it warns against bowing to pressure to suspend excise taxes on petroleum. As the incoming Marcos administration is coming under pressure from several parties to implement a...
President Rodrigo Duterte has conferred the Order of Lakandula with the Rank of Grand Cross (Bayani) to outgoing Finance Secretary Carlos G. Dominguez III for his exemplary service to the nation. The Order of Lakandula recognized Dominguez’s help and contribution to the success of President...
Finance Secretary Carlos G. Dominguez III said the achievements of the Intergovernmental Relations Body (IGRB) would help guide the new administration to achieve the country’s long-standing goal of attaining lasting peace and prosperity in Mindanao. During the presentation of its second progress...
Less than two weeks before President Rodrigo Duterte’s term ends, the government sealed the Asian Development Bank’s (ADB) biggest infrastructure loan package that would connect Metro Manila and Calamba in Laguna through a railway system. At a signing ceremony witnessed by President Duterte...
The Department of Finance (DOF) has clarified that there is no double taxation in the imposition of value-added tax (VAT) in the electric power sector. Reacting to recent statements made by the Energy Regulatory Commission (ERC), Finance Secretary Carlos G. Dominguez III explained that the Electric...
Senator Sonny Angara said he is leaving it up to the upcoming members of the majority to decide who would be the next Senate leader, but is vouching for Senate Majority Leader Juan Miguel “Migz” Zubiri to be the next Senate president. Angara issued the statement in an interview saying that...
The Fiscal Incentives Review Board (FIRB) revealed that the Philippine Economic Zone Authority (PEZA) is not tracking the inflow of actual investments made by its registered business enterprises (RBEs). In a statement, Finance Assistant Secretary and FIRB Secretariat Head Juvy Danofrata said PEZA...
The Government of the People’s Republic of China will finance the construction of a P19.32 billion two-way, four-lane bridge connecting Davao City and the Island Garden City of Samal in Mindanao, the Department of Finance (DOF) announced. In a statement on Tuesday, June 14, the DOF said the...
Incoming Finance Secretary Benjamin E. Diokno wants to put in place a formal fiscal plan that will take control of government expenditures, set clear borrowing and revenue programs, as well as design policies to manage budget deficits in the next six-years. Diokno, who is currently governor of the...
The Fiscal Incentives Review Board (FIRB) welcomed the decision of Concentrix, a major business process outsourcing (BPO) firm, to give up its tax perks in exchange for a continued hybrid work setup for its employees. Finance Assistant Secretary and FIRB Secretariat Juvy Danofrata said...
The Department of Finance (DOF) said that Binance, the largest cryptocurrency exchange in the world, is not registered with the Philippines’ securities and banking regulators. Finance Secretary Carlos G. Dominguez III said on Thursday, June 9, said Binance is not registered with the Securities...
The Department of Finance (DOF) has ordered the collection of unpaid electricity bills of the Maguindanao Electric Cooperative, Inc. (MAGELCO) and Lanao del Sur Electric Cooperative, Inc. (LASURECO). In a statement Wednesday, June 8, the DOF said MAGELCO and LASURECO have outstanding accounts...
