The Duterte administration’s revenue effort since it took office emerged as the highest among different presidential terms in over two decades, the Department of Finance (DOF) boasted. In a report to Finance Secretary Carlos G. Dominguez III by the DOF’s Domestic Finance Group (DFG), it said...
Finance Secretary Carlos G. Dominguez III called on tax management professionals to help build trust among taxpayers and encourage them to pay the right amount of taxes instead of finding “loopholes” for their clients to get away and avoid tax obligations. Dominguez said that although the...
More than 71% of Filipinos remain unbanked and have zero access to financial services, based on the 2019 survey of the Bangko Sentral ng Pilipinas (BSP). This unbanked sector includes aspiring entrepreneurs and MSMEs resulting in their inability to secure funding and support to expand their...
The Duterte administration has so far borrowed more than P1 trillion from foreign lenders for the government’s coronavirus response, the Department of Finance (DOF) said. As of Jan. 14, 2022, the national government already raised a total of $22.55 billion, or roughly P1.15 trillion, in budgetary...
The Philippines needs to maintain the momentum seen in the second semester of last year to sustain its economic recovery, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said the robust growth in the final two quarters of 2021 should be sustained even...
Senate Finance Committee chair Senator Sonny Angara on Tuesday assured that health care workers are now entitled to receive benefits while the state of national emergency due to COVID-19 is in effect. Angara, sponsor and co-author of Senate Bill No. 2421 or the act granting COVID-19 benefits and...
The Duterte administration registered a strong fiscal performance last year that enabled the government to maintain macroeconomic stability and helped maintain investor confidence, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said as he pointed out...
The Bureau of the Internal Revenue (BIR), the government’s main tax agency, has missed its collection target last year, the Department of Finance (DOF) reported on Friday, Jan. 28. Citing preliminary reports from the BIR, the DOF said the bureau collected P2.07 trillion from January to December...
FIRB identifies 3 barriers to foreign investments By Chino S. Leyco The prolonged pandemic, high costs of doing business, and foreign equity restrictions in the Philippines are the main barriers to foreign investments in the country, the Fiscal Incentives Review Board (FIRB) said on Wednesday, Jan....
The government was awarded a $52.5 million payout for losses the country suffered due to Typhoon Odette, the Department of Finance (DOF) announced on Tuesday, Jan. 25. Many Filipinos affected by Super Typhoon Odette are still in need of help up to this day In a statement, the DOF said the...
The Securities and Exchange Commission (SEC) has tapped institutional partners to expand the reach of its financial literacy campaign that aims to encourage Filipinos to place their money in safe and secure investments. In its report to Finance Secretary Carlos G. Dominguez III, the SEC said its...
The government signaled a paradigm shift last year in the way the Philippines is tackling the worsening climate crisis sweeping the globe, President Duterte’s official representative to the Climate Change Commission (CCC) said. Screen Shot 2022-01-22 at 2.34.48 PM Finance Secretary Carlos G....
