The news of the country's debt nearing P15 trillion is undoubtedly alarming. It raises the question of why the government continues to borrow extensively, despite its significant indebtedness. While many Filipinos tend to avoid borrowing, viewing debt as inherently negative and a sign of poor...
The Marcos administration is seeking financial support from a US foreign aid agency to bolster its efforts to combat corruption and enhance revenue generation, the Department of Finance (DOF) said. Finance Secretary Ralph G. Recto said the Washington-backed Millennium Challenge Corp. (MCC) could...
A major restructuring at the Department of Finance (DOF) could be in the offing as Malacañang is set to appoint three new undersecretaries and one assistant secretary to the agency. The DOF is expected to undergo significant changes with new Finance Secretary Ralph G. Recto inclined to...
The Department of Finance (DOF) stated that the government is committed to implementing measures to reduce inflation, thereby stimulating private spending to drive growth and increase government revenues. In a statement on Wednesday, Jan. 31, Finance Secretary Ralph G. Recto said the government...
The Department of Finance (DOF) has committed to partnering with US investors to explore potential investments in critical minerals, semiconductors, and energy security in the Philippines. This commitment has been made following the meeting between Finance Secretary Ralph G. Recto and United States...
Finance Secretary Ralph G. Recto said that interest rates would go down in the second semester of the year. On the sidelines of the annual reception for the banking community late Friday, Jan. 26, Recto stated that he expects a decrease in the cost of borrowing, both domestically and offshore,...
The Department of Finance (DOF) has stated that the expected revenue from the "refined" five tax reform proposals will fall short of the initial projections made by the agency. Finance Secretary Ralph G. Recto said late Friday, Jan. 26, that the projected revenue gain of P213 billion from the...
The Department of Finance (DOF) plans to push for approval of five pending tax measures in Congress within this year to raise around P213 billion by the end of President Marcos' term. In the absence of new tax proposals, Finance Secretary Ralph G. Recto said the DOF will continue to push for the...
The Department of Finance (DOF) has urged the Insurance Commission (IC) to develop new products aimed at addressing emerging challenges, notably climate change. Finance Secretary Ralph G. Recto said there is the need to develop new products, implement innovative solutions, and utilize new...
The Department of Finance (DOF) has vowed to prioritize efforts aimed at curbing the elevated consumer prices that are impeding the country's economic growth and hindering the generation of additional government revenues. In a briefing on Wednesday, Jan. 24, Finance Secretary Ralph G. Recto said...
E-cigarette and vape manufacturers and distributors in the country are in favor of the Department of Finance's (DOF) efforts to improve tax collection efficiency and pursue tax evaders, including those involved in the vapor products sector. In a statement, Joey Dulay, Philippine E-cigarette...
Finance Secretary Ralph G. Recto met with the government’s tax collectors to discuss strategic plans to achieve the Marcos administration's target of generating P4.3 trillion in revenues this year. On Tuesday, Jan. 23, Recto held a meeting with the Bureau of Internal Revenue's (BIR) management...
