The Fiscal Incentives Review Board (FIRB) has instructed all investment promotion agencies (IPAs) to submit a copy of the schedule of rates for their various services relating to the grant and administration of tax incentives. In a statement, Finance Assistant Secretary and FIRB Secretariat Head...
President-elect Ferdinand R. Marcos Jr. has unveiled his administration’s priority programs and projects for his first full-year budget anchored with the goal of economic reconstruction. In a directive to incoming Budget Secretary Amenah F. Pangandaman, Marcos wanted that his 2023 National...
As part of the government's solid-waste management and flood control efforts, the Department of Science and Technology (DOST) together with the Department of Environment and Natural Resources (DENR) has turned over the Automatic Trash Rake (ATR) technology to the City of Malabon. The Department of...
With talks on renewable energy in the air, the country’s first-ever wind turbine research, development and testing laboratory has recently been launched by the Department of Science and Technology (DOST) together with the Central Philippine University (CPU) in Iloilo City. The wind tunnel in the...
Liloan town, Cebu Mayor Christina Frasco will be the Department of Tourism (DOT) secretary of the incoming administration of President-elect Bongbong Marcos. Incoming DOT Secretary Christina Frasco (BBM Media Office) This was announced by Press Secretary-designate Trixie Cruz-Angeles during a press...
Finance Secretary Carlos G. Dominguez III has approved the donation to the Armed Forces of the Philippines (AFP) and the Philippine Coast Guard (PCG) of fuels that were seized by the Bureau of Customs and forfeited in favor of the government. The Customs will turn over a total of 41,356.8 liters of...
The Department of Finance (DOF) reported that the comprehensive tax reform program (CTRP) initiated by President Duterte since he took office has yielded more than half a trillion pesos in fresh government revenues. In a report to Finance Secretary Carlos G. Dominguez III, the DOF’s Domestic...
Bangko Sentral ng Pilipinas (BSP) Assistant Governor Amenah F. Pangandaman has accepted the invitation from President-elect Ferdinand R. Marcos Jr. to serve as the new administration’s Department of Budget and Management (DBM) secretary. In a statement on Monday, May 30, Pangandaman has pledged...
The series of tax reforms, unparalleled infrastructure investments and the enactment of the law that cleared the way to the long-sought return of the coco levy funds are among the lasting legacies of the Duterte administration on the economic front, a Cabinet official said. During the Duterte...
President-elect Marcos’ chief economic manager has high hopes for incoming Socioeconomic Planning Arsenio M. Balisacan, describing the latter as the “poverty guru” of the next administration tasked to bring down the nation’s poverty rate to single-digit. Incoming Finance Secretary Benjamin...
The Marcos administration can attain the Philippines' first “A” credit rating status within two years as long as it has a credible and doable fiscal consolidation program, the incoming chief economic manager said. Incoming Finance Secretary Benjamin E. Diokno said in an interview that the next...
Incoming Finance Secretary Benjamin E. Diokno would seek for consensus among lawmakers and members of the executive department before pursuing the Marcos administration’s own fiscal consolidation plan. New and higher taxes are not off the table, Diokno said in an interview with Manila Bulletin,...
