The government plans to impose new and revised taxes to generate nearly P500 billion over the next three years, data from the Department of Finance (DOF) showed. Based on the DOF list of revenue measures submitted to Congress, the government has proposed eight tax initiatives that, once approved,...
Finance Secretary Benjamin E. Diokno called upon his regional counterparts to join forces and actively collaborate in overcoming the diverse challenges hindering Southeast Asia's recovery from the Covid-19 pandemic. At the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting in...
The Department of Finance (DOF) said the Philippines maintains its position as the fastest-growing economy in Southeast Asia, surpassing its regional peers despite the second-quarter slowdown. Finance Secretary Benjamin E. Diokno said the country’s gross domestic product (GDP) average growth of...
Senator Raffy Tulfo on Sunday, July 2 criticized the Bureau of Internal Revenue’s (BIR) “anti-poor” plan to impose taxes on junk food and other food items next year. Sen. Raffy Tulfo (Senate PRIB Photo) Tulfo...
The Department of Finance’s (DOF) proposed initial five percent monthly contribution rate from the military and uniformed personnel (MUP) is too burdensome for the low-ranking soldiers, especially the enlisted personnel (EPs). Sen. Jinggoy Ejercito Estrada disclosed this was part of the main...
President Ferdinand “Bongbong” Marcos Jr. vowed to sign the controversial Maharlika Fund bill “as soon as I get it,” allaying fears that the proposed sovereign wealth fund could potentially bankrupt pensioners’ fund. President Ferdinand Marcos Jr. (File Photo/MANILA BULLETIN) “I will...
The Philippines and India have sealed a partnership in Financial Technology (FinTech) as the two countries see the need for cooperation to share and learn from each others' expertise and potentials. Department of Finance (DOF) Secretary Benjamin Diokno and Indian Ambassador to the Philippines...
The Senate Committee on National Defense and Security is willing to study the Department of Finance’s (DOF) latest proposal in reforming the pension system of the military and uniformed personnel (MUP). The Marcos administration’s economic team is now proposing that MUPs in active service...
Finance Secretary Benjamin Diokno on Tuesday, May 30, said that it is up to the boards of directors of state pension institutions, such as the Social Security System (SSS) and Government Service Insurance System (GSIS), to invest in the proposed Maharlika Investment Fund (MIF). Finance Secretary...
The Philippines is working with the International Monetary Fund (IMF) in conducting a study aimed at addressing the low value-added tax (VAT) efficiency in the country. DOF Secretary Benjamin Diokno (Noel B. Pabalate) Finance Secretary Benjamin Diokno disclosed this on Tuesday, May 30, following a...
Over a thousand companies inside special export processing zones (EPZs) will undergo a fiscal incentives review after the Department of Finance (DOF) found the incentives system being abused, Finance Secretary Benjamin Diokno said on Tuesday, May 30. Finance Secretary Benjamin Diokno at the Palace...
President Ferdinand "Bongbong" Marcos Jr. told the Department of Finance (DOF) to continue looking into the current tax system in the country and find ways to level the playing field between foreign and local businesses. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of KJ Rosales/PPA...
