The Department of Finance (DOF) is exploring how foreign governments can contribute to the Philippines’ efforts to accelerate the decommissioning and repurposing of its coal-fired power plants. As overseas companies have a significant stake in the country’s coal-fired power plants, DOF...
The Department of Finance (DOF) bucked the proposal seeking to impose a “super-rich” tax on Filipino billionaires as its negative impacts outweigh any potential revenue gains for the government. In a letter to House Speaker Lord Allan Jay Velasco, Finance Secretary Carlos G. Dominguez III said...
The government is finalizing its sustainable finance framework for the issuance of the Philippines’ first-ever sovereign green bonds, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said on Friday, Nov. 19, that the establishment of the framework is a key step in...
Government economic managers expect the country to downshift to the most lenient alert level status beginning next year, allowing businesses to operate at full capacity. Finance Secretary Carlos G. Dominguez III said on Wednesday, Nov. 17, that the sustained drop in the number of COVID-19 cases is...
Finance Secretary Carlos G. Dominguez III instructed the Philippine Crop Insurance Corp. (PCIC) to identify and explain its sources of funds and corresponding uses to better understand its financial status and ensure that its premium subsidies paid for by taxpayers are spent well. Dominguez said...
The Department of Finance (DOF) wants financial technology (Fintech) companies in the country to be properly regulated and taxed while encouraging the sector’s growth and continued innovation. In a statement, DOF Secretary Carlos G. Dominguez III said Tuesday, Nov. 16, that he has tasked the...
A new private sector-led global organization is exploring a possible country partnership with the Philippines to assist in hastening its transition to green and renewable energy (RE) sources, the Department of Finance (DOF) said. In a statement, the DOF said on Friday, Nov. 12, that Finance...
The Philippines has formally committed to reverse forest loss and land degradation by 2030, the Department of Finance (DOF) announced on Thursday, Nov. 11. In a statement, the DOF said the Department of Foreign Affairs (DFA) recently transmitted President Duterte’s letter to the government of the...
The Philippines has called for an end to the debate on climate change, and for nations to start implementing concrete actions to fulfill their respective commitments and “obligations to humanity” to save the planet from an environmental catastrophe. “The Philippines is determined to be a...
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...
Finance Secretary Carlos G. Dominguez III said the support extended by multilateral institutions to the clean energy transition projects of developing economies is crucial to encourage the flow of private sector capital into these initiatives. Dominguez said the meticulous planning and vetting done...
Finance Secretary Carlos G. Dominguez III has underscored the importance of the “blended approach” or sustainable orchestration of grants, investments, and subsidies to make climate finance work for its beneficiaries. IMG_1313 During a ministerial dialogue on climate finance at COP26, Dominguez...
