The Philippines, through the Department of Finance (DOF), is urging multilateral development banks (MDBs) to increase their capacity to offer loans, enhance the impact of supported projects, and offer more concessional lending terms, grants, and technical assistance. During the fourth international...
After the successful bidding to privatize the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plants, the government and private-sector players may next look forward to another public-private partnership (PPP) in rehabilitating the decades-old Agus-Pulangi hydropower complex in Mindanao. Power...
While the Department of Finance (DOF) seems to be shifting away from its earlier stance of “no new taxes,” private sector economists argue that new tax measures are not yet necessary, emphasizing the need to first strengthen the implementation of existing tax laws. “I can’t emphasize more...
The Department of Agriculture (DA) is set to receive a loan financing from the Washington-based multilateral lender World Bank next year for a project aimed at supporting small agri-businesses. A June 26 document published on Thursday, July 3, showed that the DA is seeking an investment project...
Under its new leadership, the Securities and Exchange Commission (SEC) remains committed to implementing reforms that will further enhance the ease of doing business in the Philippines and deepen the capital market. In a courtesy visit to Finance Secretary Ralph G. Recto, new SEC Chairperson...
Senate President Francis “Chiz” Escudero is considering filing a bill that would grant standby authority to the Department of Finance (DOF) or the President to temporarily reduce oil taxes in response to global fuel price spikes triggered by geopolitical crises, such as the ongoing Iran-Israel...
President Marcos’ chief economic manager has ordered the finalization of a cooperative agreement between the Bureau of Customs (BOC) and its Hong Kong counterpart to enhance trade facilitation. Currently a draft, the bilateral customs cooperative arrangement also aims to protect consumers “from...
Consunji-led Semirara Mining and Power Corp. (SMPC) has filed a case against the Department of Finance (DOF), the Bureau of Internal Revenue (BIR), and the Bureau of Customs (BOC) over the imposition of taxes on its fuel imports. In a disclosure to the Philippine Stock Exchange on Wednesday, June...
A framework on crypto-assets will be implemented by the end of Marcos administration to combat cross-border tax evasion and illicit financial flows, according to the Department of Finance (DOF). “We need faster and stronger systems for collaboration if we are to beat tax evasion and illicit...
State-run Bases Conversion and Development Authority (BCDA) has remitted ₱2.04 billion in cash dividends to the Bureau of the Treasury (BTr), equivalent to 80 percent of its net income last year, the Department of Finance (DOF) reported. Apart from this being “the highest amount” the BCDA has...
Department of Finance (DOF) Secretary Ralph G. Recto has ordered the swift implementation of the value-added tax (VAT) exemption on the expanded list of medicines for cancer, diabetes, and hypertension. Recto, President Marcos’ chief economic manager, has addressed this mandate to the Bureau of...
Raising the minimum wage by ₱200 would have “dangerous repercussions,” including hurting the Philippine economy, small business owners, and driving a spike in consumer price hikes, according to the Marcos administration’s economic managers. This comes as the public has intensified their...
