Imposing higher tax on Filipino billionaires whose fortunes have reached more than one billion pesos may not be a good idea with Finance Secretary Carlos G. Dominguez III warning this will only result in capital flight out of the Philippines. Finance Secretary Carlos G. Dominguez Dominguez said as...
PMFTC Inc., the local affiliate of Philip Morris International (PMI), remained the country’s largest cigarette manufacturer in terms of sin tax contributions to government revenue, data from the Department of Finance (DOF) showed. PMFTC Based on the DOF’s analysis, the company behind the...
The proposed development of the National Power Corporation (NPC) property in Diliman, Quezon City into a mixed-use commercial complex will warrant the corporate life extension of state-run Power Sector Assets and Liabilities Management Corporation. PSALM President Irene Besido-Garcia said that...
The highly transmissible Delta variant is posing “serious challenges” to jobs, the Department of Finance (DOF) admitted. Finance Undersecretary Gil S. Beltran said the mutations in the new coronavirus caused more than 3.8 million people dropped out of the labor force between June and July this...
Department of Agriculture (DA) Secretary William Dar has allayed the fears of farmers over the transfer of the Philippine Crop Insurance Corporation (PCIC) to the Department of Finance (DOF). (Photo courtesy of the DA) “We assure the Federation of Free Farmers (FFF) that their interest and those...
A group of farmers expressed disappointment and fear over the decision of the Duterte Administration to transfer the Philippine Crop Insurance Corporation (PCIC) from the Department of Agriculture (DA) to the Department of Finance (DOF). In a statement, the Federation of Free Farmers (FFF) said on...
Some 250 famous social medial (socmed) personalities are now being investigated by the Bureau of Internal Revenue (BIR) for possible tax evasion, the Department of Finance (DOF) said. In a statement, the DOF said on Thursday, Sept. 16, that the tax bureau is looking into an initial 250 top earning...
The country’s solid financial footing amid the ongoing pandemic validated the “good work” of the Department of Finance (DOF) as well as the correctness of the reforms and policies it has pursued, the government’s chief economic manager said. In his presentation before senators of the...
NIGHT OWL Anna Mae Lamentillo When I asked Finance Secretary Carlos “Sonny” Dominguez III if he thinks that the Philippines will become a trillion-dollar economy, his answer was an emphatic, “Of course! And not in the distant future.” Statistics prior to the COVID-19 pandemic show we are...
E-Cigarettes The Bureau of Internal Revenue (BIR) will start affixing tax stamps on e-cigarettes and heated tobacco products (HTP) to ensure tax compliance among manufacturers of these alternatives to traditional smoking. Based on BIR Revenue Regulations No. 28 dated Sept. 10, 2021, the the...
The Department of Finance (DOF) assured that the Philippines has already secured the financing for, and ordered, enough doses of COVID-19 vaccines to inoculate qualified Filipinos by the end of the year stating the country needs 9 million doses weekly arrival to meet its target to complete its...
Finance Secretary Carlos G. Dominguez III has directed the Department of Transportation to collect at least half a billion pesos in remaining charges that flag-carrier Philippines Airlines still owed to the government. Philippine Airlines Dominguez immediately asked the DOTr to “intensify...
