Cabinet-level interagency Development Budget Coordination Committee (DBCC) has lowered the revenue goal for the Bureau of Internal Revenue (BIR) for this year but raised the target for the Bureau of Customs (BOC), in tandem with the downgraded economic growth outlook. According to data disclosed by...
Tightened rules and stricter oversight of the gaming sector may have hampered efforts to recover revenues lost in previous quarters, but global credit rating agency S&P Global Ratings said a more supportive visa policy and the rebound in online gambling could help gaming operators bounce back in...
As the country’s second-largest tax collection agency takes on the challenge of reaching an elusive ₱1 trillion this year, the Bureau of Customs (BOC) has taken a major step to improve its operations by mandating that all revenue-generating auctions and condemnation activities be broadcast...
Delays in implementing major tax measures have proven to be a friction in the Philippines’ target of raising higher revenues in recent years, a fiscal condition further worsened by the persistent increase in national government (NG) debt. According to Singapore-based ASEAN+3 Macroeconomic...
The government is maintaining its ₱360 billion excise tax target for this year, betting on domestic resilience even as the government prepares to potentially sacrifice billions in fuel revenue to offset Middle East oil shocks. This comes despite the likelihood that President Ferdinand Marcos Jr....
The Bureau of Customs (BOC) exceeded its revenue targets for a third consecutive month in March, bolstered by the surge in trade volume and the high-profile sale of seized luxury supercars. Preliminary data showed that the BOC’s total collections for the first quarter reached ₱238.9 billion,...
DAVAO CITY – This city generated P15.1 billion in revenue in 2025, a 12.93 percent increase from the P13.4 billion collected in 2024, the City Treasurer’s Office (CTO) announced Monday night. In a statement, CTO head Lawrence Bantiding said the growth was fueled by higher collections from key...
Additional revenues generated by the national government from privatization of its idle assets jumped 472.5 percent to P3.12 billion as of end-September. The latest Bureau of the Treasury (BTr) data on Thursday, Oct. 24, showed privatization proceeds almost quintupled from P544.88 million in the...
Dividends from government-owned and controlled corporations (GOCCs) increased more than half in the first seven months of the year, the Department of Finance said in a report. In its Facebook post, the DOF shared that it collected a total of P95.54 billion from January to July, 52 percent higher...
The Department of Finance (DOF) announced that government revenues have already achieved half of the target for the year in the first semester, indicating a promising outlook for meeting the full-year goal. Finance Secretary Ralph G. Recto said that a total of P2.13 trillion in revenues was...
The Bureau of Customs seized over 3,100 liters of unmarked fuels with a total worth of P10.5 million in Bataan after it failed to pass the fuel marking test. The Bureau of Customs (BOC) Intelligence and Investigation Service-Manila International Container Port (CIIS-MICP), along with agents from...
The government’s economic team is looking to collect P3.84 trillion to P3.90 trillion in total revenues this year, above the target of P3.73 trillion. In a joint statement, the Development Budget Coordination Committee (DBCC) said that P2.84 trillion in revenues have been collected in the first...
