The Fiscal Incentives Review Board (FIRB), chaired by the Department of Finance, has approved the tax incentive application of TDK Philippines Corp. (TPC). In a statement Tuesday, Dec. 6, Finance Assistant Secretary Juvy Danofrata said the FIRB approved the fiscal incentives for TPC’s P2.5...
Senator Risa Hontiveros on Tuesday echoed the sentiments if other lawmakers who expressed concerns over a proposal creating a sovereign wealth fund, saying it is counterproductive to the nation's economic goals. Hontiveros said she believes the proposed "Maharlika" wealth fund is better used to...
Lawmakers in the current 19th Congress weren't the first to propose the creation of a Philippine sovereign wealth fund. Senior Deputy Speaker Gloria Macapagal-Arroyo Senior Deputy Speaker and former president Gloria Macapagal-Arroyo shared this trivia in a statement Monday morning, Dec. 5, wherein...
The Department of Finance (DOF) clarified that the imposition of value-added tax (VAT) on digital transactions only aims to ensure that everybody pays his fair share of taxes. Finance Secretary Benjamin E. Diokno said the proposed VAT on electronic or digital services does not impose new taxes,...
The Department of Finance (DOF) wants the government to end the free rollout of Covid-19 vaccines once shots become commercially available in the country. Finance Secretary Benjamin E. Diokno said the government should deputize the private sector for the procurement and administration of Covid-19...
The Department of Finance (DOF) has thrown its support behind the proposed measure seeking the creation of a sovereign wealth fund with safeguards against political interference. During a Kapihan sa Manila Bay Forum on Wednesday, Nov. 30, DOF Secretary Benjamin E. Diokno said he expects President...
The Department of Finance (DOF) lauded the decision of the House of Representatives to approve on final reading a proposed measure seeking to impose taxes on single-use plastics. In a statement, Finance Secretary Benjamin E. Diokno said the swift approval of House Bill (HB) 4102 or the Single-use...
The Department of Finance (DOF) remained confident that the national government’s debt ratio would decline during the Marcos administration despite its recent uptick in the third-quarter. Finance Secretary Benjamin E. Diokno said the government’s ability to pay its debts continues to improve...
Local government units (LGUs) should optimize their increased budgets from the Mandanas-ruling in setting up plans on capital investments to address basic and growing needs of their constituents, the Cabinet official said. In a statement, Finance Secretary Benjamin Diokno said the full devolution...
The Department of Finance (DOF) urged climate experts and leaders from the public, private, and development sectors to invest more in resilience finance to reduce climate risks and disasters. At the Climate Investment Forum organized by the Climate Change Commission (CCC), Finance Secretary...
The Department of Finance (DOF) has vowed to resolve the complicated military and uniformed personnel (MUP) retirement and pension system that continues to take a heavy toll on the government’s yearly budget. Finance Secretary Benjamin E. Diokno said on Wednesday, Nov. 23, that the MUP pension...
Albay 2nd district Rep. Joey Salceda wants to put to rest the rumor of him taking over the position of Department of Finance (DOF) secretary, saying there's neither an offer for the position nor an interest from his part. Albay 2nd district Rep. Joey Salceda "As I said yesterday (Monday), I do not...
