Instead of new and higher taxes, the incoming chief of the Department of Finance (DOF) wants to focus mainly on the government’s tax administration during the first year of President-elect Ferdinand R. Marcos Jr. Incoming Finance Secretary Benjamin E. Diokno said he is not worried about the...
Outgoing Finance Secretary Carlos G. Dominguez III said the next administration may possibly consider selling the property where the Ninoy Aquino International Airport (NAIA) is built on to raise more revenues. While privatization is not included in his fiscal consolidation program proposal to...
The average yield of palay farmers during the dry season has increased since the rice tariffication law (RTL) three-year ago, the Department of Finance (DOF) reported. In a statement, the DOF said on Thursday, May 26, that the implementation of RTL has raised palay output during the dry season from...
Finance Secretary Carlos G. Dominguez III has received reports that some Bureau of Internal Revenue (BIR) personnel have allegedly harassed a number of businesses to raise money for the Department of Finance (DOF) chief’s parting gift. A “pabaon” to be given prior to his retirement on June 30...
Investors and enterprises can now access the Fiscal Incentives Registration and Monitoring System (FIRMS), an online registration where investors can monitor their submitted applications for tax incentives, the Department of Finance (DOF) said. Finance Assistant Secretary and Fiscal Incentives...
The Department of Finance (DOF) has ordered the suspension of the special audit task forces of the Bureau of Internal Revenue (BIR) for causing uncertainty for some taxpayers. Finance Secretary Carlos G. Dominguez III said Revenue Special Orders (RSOs) and Operations Memoranda (OMs) have resulted...
Gov’t earns P46 B from rice reform bY Chino S. Leyco Forty-six billion pesos, that was the amount earned by the national government since the law liberalizing rice trading was implemented three-years ago, the Department of Finance (DOF) emphasized. Finance Secretary Carlos G. Dominguez III...
The national government has paid in full its P300 billion loan with the Bangko Sentral ng Pilipinas (BSP), well ahead of the maturity date next month, the Department of Finance (DOF) announced. In a statement, Friday, May 20, Finance Secretary Carlos G. Dominguez III said the repayment of the...
The Department of Finance has warned the Philippine Crop Insurance Corp. (PCIC) as well as other government agencies to stop the practice of allowing foreign consultants to offer projects that only serve their personal interests rather than the interest of the government and Filipinos. During a...
The National Economic and Development Authority (NEDA) has fired back at critics of the rice tariffication law (RTL), noting that contrary to claims, the reform helped both farmers and consumers since its enactment. In a statement, Socioeconomic Planning Secretary Karl Kendrick T. Chua said that...
The Bureau of Internal Revenue (BIR) will monitor the compliance of outsourcing companies in economic zones with the onsite work policy of the Fiscal Incentives Review Board (FIRB), the Department of Finance (DOF) said. A BIR task force has been created to ensure that registered business...
Finance Secretary Carlos G. Dominguez III said the Philippines is looking forward to future initiatives under the umbrella of the ASEAN Plus Three (China, Japan, Korea) cooperation to help accelerate the country’s shift from coal to sustainable energy sources. On behalf of the Philippine...
