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 Bureau of the Internal Revenue (BIR), the government’s main tax agency, missed its collection goal in the first-quarter due to higher availment of input value-added tax (VAT) credits by businesses. In a statement released by the Department of Finance (DOF) on Sunday, May 22, the bureau...
The economic recovery registered by the regions last year should encourage investments in their respective areas, the Department of Finance (DOF) said. In the latest DOF Economic Bulletin, Finance Chief Economist Gil S. Beltran said economic growth rose in all 17 regions in 2021 as the country...
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...
Senator Imee Marcos urged the Department of Finance (DOF) on Friday, May 20 to iron out inconsistencies between its back-to-office order and the government’s approval of work-from-home (WFH) programs before the Covid-19 pandemic began. Marcos, chairwoman of the Senate Economic Affairs Committee,...
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...
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...
High debt load and low revenue collection will become bottlenecks to the country’s return to a rapid and sustainable economic growth path, the Department of Finance (DOF) said. As the government transitions to the next administration, Finance Chief Economist Gil S. Beltran said that fiscal...
With the forthcoming change in leadership, the Department of Finance (DOF) said the government should continue its reforms in the military and uniformed personnel (MUP) pension scheme to ensure the county's fiscal stability. Finance Chief Economist Gil S. Beltran said the government is spending...
Finance Secretary Carlos G. Dominguez III said the administration of presumptive president Ferdinand “Bongbong” R. Marcos Jr. needs to increase government revenues while eliminating wasteful expenditures to get ahead of the country’s debt problem. After the Bureau of the Treasury reported...
