The Philippine government will need to shell out more than P330 billion if it will concretize its plan to ‘buy out’ coal plants in Mindanao grid as part of the country’s commitment for carbon emissions reduction at the 26th Conference of the Parties (COP 26) of the United Nations Climate...
Finance Secretary Carlos G. Dominguez III will represent the Philippines at the global climate action talks and negotiations, also known as 26th Conference of Parties (COP26) of the United Nations Framework Convention on Climate Change, in Glasgow, Scotland next week. Delegates from almost 200...
The continued recovery of foreign direct investment (FDI) this year is an indicator of the Philippines’ solid long-term prospects, the Department of Finance (DOF) said. Based on the latest DOF economic bulletin, the department noted that the country’s FDI sustained its robust growth in January...
Although she is happy now that other presidential aspirants are joining the chorus to freeze the excise taxes on fuel, Vice President Leni Robredo said that she has proposed this move back in 2018. However, being part of the opposition, her pitch wasn't given much attention. Vice President Leni...
The Department of Energy (DoE) has categorically countered the planned buy-out and phaseout or retirement of coal-fired power plants in Mindanao, specifying that this is not part of a scenario set in the Philippine Energy Plan (PEP) in the next two decades. “The PEP is not yet looking at...
Collections of the government’s two main tax agencies surpassed the P2-trillion mark in the first nine months of the year, nearing the pre-pandemic level, the Department of Finance (DOF) reported Friday, Oct. 22. Finance Secretary Carlos G. Dominguez III said tax haul of the Bureau of Internal...
Aside from planning to temporarily stop the collection of excise taxes, the Department of Energy (DOE) is also studying the possibility of suspending the imposition of value added taxes (VAT) for petroleum products. If the pass on of 12-percent VAT -- which is another layer of taxes enforced on...
Revenue collection from imported rice increased this year despite decline in the price of the staple food in the world market, the Department of Finance (DOF) reported Thursday, Oct. 21. Based on the Bureau of Customs report submitted to the DOF, the agency collected P14.3 billion in rice duties...
The Department of Finance (DOF) has advised caution in suspending excise tax on petroleum as it will incur substantial revenue losses for the government and may affect the budget for coronavirus recovery measures. In a memorandum submitted to Finance Secretary Carlos G. Dominguez III, Finance...
The Department of Finance (DOF) wants to stop burning coal in Mindanao, in line with the government’s program aimed at promoting sustainable investments. During the launching of the Philippine Sustainable Finance Roadmap and Guiding Principles on Wednesday, Oct. 20, Finance Secretary Carlos G....
Finance Secretary Carlos G. Dominguez III has called on young innovators to contribute their skills and ideas in the fight against climate change, and spearhead efforts to educate and motivate the country’s youth to take action in protecting the planet’s future. Finance Secretary Carlos G....
Employees of the Department of Finance (DOF) along with attached agencies and state-owned companies, like the Bureau of Internal Revenue (BIR) and Social Security System (SSS), are told to prepare for a full-return to the workplace. Amid easing quarantine restrictions and COVID-19 infections,...
