Finance Secretary Frederick D. Go has called for stronger ties between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) to expand financing access for small businesses across the region. “Given the EU’s expertise in digital and sustainable finance, Go called for...
President Ferdinand Marcos Jr.’s economic team said Filipino consumers are unlikely to see meaningful relief from the suspension of excise taxes on gasoline and diesel, as any reduction in pump prices would be minimal and likely offset by prevailing market forces. This was the Cabinet-level...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 27-2026, publishing the updated list of medicines exempt from 12-percent value-added tax (VAT), as endorsed by the Food and Drug Administration (FDA). Released on April 8, 2026, the circular covers 2,263...
The fiscal outcomes under the BBM administration reflected the government’s consolidation-with-growth stance, with revenues strengthening faster than expenditures and the deficit gradually narrowing. Owing to data availability, we can only analyze the fiscal results for fiscal years 2023 and...
Why are members of Congress allowing the executive branch to keep value-added tax (VAT) on commodities including fuel products despite strong clamor to reduce it? A fired up Batangas 1st district Rep. Leandro Legarda Leviste asked this question to his solon-colleagues Monday, April 13 during the...
The interagency Fiscal Incentives Review Board (FIRB) has allowed registered business enterprises (RBEs) in economic zones and freeports to temporarily adopt work-from-home (WFH) arrangements of up to 90 percent of their workforce, following the declaration of a national energy emergency. In a...
Amid a national energy emergency, government response to the oil crisis is expected to accelerate spending in the first half of the year, reversing a slump in infrastructure expenditures last year in the aftermath of the flood-control corruption scandal. According to the Department of Budget and...
The Marcos Jr. administration’s chief economic manager assured on Tuesday, April 7, that the Philippine government has enough resources to tackle the oil crisis head-on, given an improving fiscal position with rising revenues coupled with prudent spending on public goods and services. “Our...
Fiscal indicators under the Duterte administration generally trended upward, though the pattern was heavily shaped by the pandemic shock mid-term. In the early pre-pandemic years, revenues grew steadily, bolstered by improved tax administration and the initial impact of the TRAIN reforms. The...
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,...
Let us now examine the record of the Benigno Aquino III Administration (2011 to 2016) in fiscal management. This administration anchored its economic agenda on inclusive growth driven by good governance and anti-corruption reforms. The central premise was that restoring credibility in public...
To accelerate the country’s progress toward upper middle-income status, the Philippine government has secured roughly ₱82.4 billion (221.7 billion Japanese yen) in financing from the Japan International Cooperation Agency (JICA) for two landmark infrastructure projects. Finance Secretary...
