The proposed P200 monthly aid for poor Filipino families will not be enough amid the surging oil prices, aspiring vice president Senator Francis "Kiko" Pangilinan said as he called for the suspension of excise tax on fuel products. Senator Francis 'Kiko' Pangilinan (Photo courtesy of Team Kiko...
The government would need to borrow additional money from creditors should taxes on petroleum products are suspended, the Department of Finance (DOF) warned. Finance Secretary Carlos G. Dominguez III said suspending fuel excise taxes will only provide temporary and minimal relief to consumers, but...
The National Economic and Development Authority (NEDA) is proposing a four-day workweek to lower energy consumption amid skyrocketing pump prices. During President Duterte’s Talk to the People aired on Wednesday, March 16, Socioeconomic Planning Secretary Karl Kendrick T. Chua said limiting the...
If global crude prices will linger at $100 per barrel or higher amid the escalating Russia-Ukraine war, the Department of Finance (DOF) is eyeing up to P20.3 billion ‘war chest’ that the national government can funnel as fuel subsidy to critical sectors – primarily to public utility vehicle...
Insurance claims related to the pandemic reached P16.71 billion in the past two years, with life coverages accounting for more than half of the payouts, the Department of Finance (DOF) said. In a report to Finance Secretary Carlos G. Dominguez III, the Insurance Commission said 23 percent or P3.89...
Personal income tax (PIT), which is withheld from an employee's salary and paid to the government, remained a major revenue stream for the government despite the lowering of rates on individual taxpayers and the pandemic-induced economic slowdown. Data released from the Department of Finance (DOF)...
Presidential aspirant Vice President Leni Robredo on Thursday, March 10, proposed a review of the country’s minimum wage, which has not moved since 2019, to “cushion” the blow of the rising fuel prices arising from Russia’s invasion of Ukraine. Vice President Leni Robredo (VPLR Media...
The Department of Finance (DOF) announced the launch of a new project that aims to assist six climate-vulnerable cities in adapting to, and mitigating the effects of, climate change. On Thursday, March 10, the DOF launched the $15 million, or P750 million, five-year Climate Resilient Cities (CRC)...
Senatorial candidate Herbert “Bistek” Bautista on Thursday opposed proposals for new and higher taxes to pay for the Philippines’ record-high debt of P12-trillion, which is projected to reach P13-trillion by the end of this year. Bautista said the proposals made by President Duterte’s...
The Department of Finance (DOF) said the return of information technology-business process management (IT-BPM) employees to on-site work would benefit local micro, small, and medium enterprises (MSMEs). In a statement on Wednesday, March 9, Finance Secretary Carlos G. Dominguez III defended the...
The Department of Finance (DOF) said the national government remains in good cash position despite recent failed domestic borrowings owing to high interest rates. Finance Secretary Carlos G. Dominguez III said Tuesday, March 8, that cash flow is not yet a problem for the government owing to P457.8...
The government’s top economic managers are crafting measures to cushion the impact of Ukraine-Russia war on the domestic economy, particularly on the prices of basic goods and commodities. While Finance Secretary Carlos G. Dominguez III believes the impact of the geopolitical crisis in Eastern...
