Stalling public investments, compounded by vulnerability to the escalating impacts of the ongoing global energy shock, prompted global debt watcher Fitch Ratings to downgrade its outlook on the Philippines’ investment-grade status from ‘stable’ to ‘negative.’ This shift in outlook places...
The government has extended the deadline for companies to report their tax incentives and benefits by one month, providing relief to businesses grappling with the nationwide energy emergency. Inter-agency Fiscal Incentives Review Board (FIRB) moved the submission date for the annual tax incentives...
The fiscal outcomes under the BBM administration reflected the government’s consolidation-with-growth stance, with revenues strengthening faster than expenditures and the deficit gradually narrowing. Owing to data availability, we can only analyze the fiscal results for fiscal years 2023 and...
Business process outsourcing (BPO) firms and ecozone locators welcomed the expanded work-from-home (WFH) policy, saying the move will help ease rising operating costs and support business continuity amid an energy crunch. This, after the Fiscal Incentives Review Board (FIRB) approved the expansion...
The interagency Fiscal Incentives Review Board (FIRB) has allowed registered business enterprises (RBEs) in economic zones and freeports to temporarily adopt work-from-home (WFH) arrangements of up to 90 percent of their workforce, following the declaration of a national energy emergency. In a...
Fiscal indicators under the Duterte administration generally trended upward, though the pattern was heavily shaped by the pandemic shock mid-term. In the early pre-pandemic years, revenues grew steadily, bolstered by improved tax administration and the initial impact of the TRAIN reforms. The...
Department of Public Works and Highways (DPWH) Secretary Vince Dizon enforced a “finish first” policy and stopped new project approvals until all unfinished and stalled infrastructure projects nationwide are completed. The move follows President Ferdinand Marcos Jr.’s directive for the DPWH...
Makati City Mayor Nancy Binay has signed the city 's budget for next year worth P21 billion, reinforcing the city’s commitment to delivering efficient, people-centered, and future-ready programs for all residents. Several local government officials were also present during the event...
The Makati City local government was recognized by the Department of Finance 's (DOF) Bureau of Local Government Finance (BLGF) on Wednesday, Nov. 5, as one of the top-performing cities in the country for Finance Year 2024. Makati Mayor Nancy Binay said the city was ranked among the Top 10...
The Department of Finance – Bureau of Local Government Finance (DOF-BLGF) recognized the San Juan City government for its outstanding performance for Fiscal Year (FY) 2024, San Juan City Mayor Francis Zamora announced on Sunday, Oct. 26. Zamora said the city was cited as one of the...
The University of the Philippines (UP) has expressed strong support for transparency and accountability in government infrastructure projects following recent reports of widespread corruption in the country’s flood control initiatives. In a statement, UP President Angelo Jimenez said the...
Senator Joseph Victor “JV” Ejercito has lauded the signing into law of Republic Act No. 12253 or the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act saying this will help generate income for the government but at the same time preserve and protect the country’s environment. “With...
