The Philippines should continue to adopt fiscal reforms, particularly tax reforms still pending in Congress, to sustain these fiscal gains, the Department of Finance (DOF) said. Based on its latest DOF economic bulletin, it noted that the recent fiscal reforms have boosted the government’s tax...
The Duterte administration’s budget deficit widened in October owing to higher spending. The Bureau of the Treasury reported on Thursday, Nov. 25, that the national government incurred a P64.3 billion fiscal gap during the month, an increase of 2.9 percent compared with P61.4 billion in the same...
The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for the builder of the Makati City Subway, the Department of Finance (DOF) announced. In a statement released by the DOF on Monday, Nov. 8, it said that the FIRB took into consideration the projected increase in...
The national government’s budget deficit breached the P1 trillion mark in the first three quarters of the year, but cuts in expenditures allowed the Duterte administration to keep the funding gap below the ceiling. The Bureau of the Treasury reported Monday, Oct. 25, that the national...
Increases in public spending last month forced the national government to raise its budget deficit in the first eight-months of the year near the trillion peso mark. Bureau of the Treasury office The Bureau of the Treasury reported on Thursday, Sept. 23, that the Duterte administration’s fiscal...
Information Technology Business Process Management (IT-BPM) enterprises in economic zones may implement a work-from-home (WFH) arrangement until the end of the first quarter next year, the Fiscal Incentives Review Board (FIRB) approved. Based on the FIRB Resolution No. 19-21, IT-BPM enterprises...
The Department of Budget and Management (DBM) has hailed the Department of Science and Technology (DOST) and its attached agencies for achieving all performance indicators in 2020, particularly its “active” involvement in the country’s fight against coronavirus disease (COVID-19). 28564 DBM...
The national government’s budget deficit narrowed in July this year due to slower public spending and higher revenue haul, the Bureau of the Treasury reported. The Duterte administration trimmed the government’s fiscal gap last month by 13.6 percent to P121.2 billion from P140.2 billion in July...
The Department of Labor and Employment (DOLE) emphasized its fiscal diligence on Modnay, Aug. 16 amid what an official described as "selective" news reporting of the Commission on Audit's (COA) 2020 audit report on the agency. DOLE Director Rolly Francia (File photo/ Screengrab from Zoom meeting)...
The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for a mass housing project and two cement manufacturing plants all located outside Metro Manila. Chaired by Finance Secretary Carlos G. Dominguez III, the FIRB during its third meeting last August 2 approved the tax...
The national government’s budget deficit fell below the ceiling in the first-semester of the year due to lower-than-expected spending, the Bureau of the Treasury reported. The Duterte administration’s January to June 2021 fiscal gap reached P716.1 billion, lower by 29 percent against the P1.018...
The Fiscal Incentives Review Board (FIRB) has adopted the framework for the grant of incentives to qualified industries under the government’s Strategic Investment Priorities Plan (SIPP). As provided in the newly enacted Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law that...
