The Department of Finance (DOF) wants the newly reconstituted Fiscal Incentives Review Board (FIRB) to meet at the earliest possible time to discuss the body’s expanded functions under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, Finance...
Finance Secretary Carlos Dominguez said the government plans to sell dollar bonds before interest rates rise, and will look for new revenue sources and ways to wind down debt next year. Finance Secretary Carlos G. Dominguez III (Photo credit: https://www.dof.gov.ph/about/secretarys-page/) “We...
The extended enhanced community quarantine (ECQ) in Metro Manila and nearly provinces will push more than 100,000 additional Filipinos into poverty as these stringent lockdowns are seen take a heavier toll on the economy, jobs and household income. Finance Secretary Carlos G. Dominguez III and...
The Bureau of the Treasury (BTr) has covered trillions worth of non-financial government assets such as roads, school buildings and power plants for inclusion in the National Asset Registry System (NARS), the Department of Finance (DOF) said. National Treasurer Rosalia de Leon said the...
Overseas Filipino Bank (OF Bank), a subsidiary of government-owned Land Bank of the Philippines, has become the country’s first online-only bank after the Bangko Sentral ng Pilipinas (BSP) granted it digital banking license on Maundy Thursday. BSP Deputy Governor Chuchi G. Fonacier, head of BSP...
The notices of disallowance (NDs) on the tax credit certificates (TCCs) issued to several textile companies over a decade ago continue to pile up, with the Commission on Audit (COA) having invalidated so far close to P1.2 billion-worth of these illegal tax perks. The TCCs issued...
The government has issued the Implementing Rules and Regulations (IRR) of Republic Act No. 11523, or the Financial Institutions Strategic Transfer (FIST) Act which will regulate the sale of non-performing assets of banks. The IRR was issued by the Securities and Exchange Commission (SEC),...
Two economic managers have lauded the enactment of the government’s second tax reform program that will unleash one of the country’s largest stimulus measures, but a group also raised that the newly-signed law has succumbed to the “powerful lobby.” Finance Secretary Carlos G. Dominguez III...
Finance Secretary Carlos G. Dominguez III said the "prompt and substantial" financing extended by the Philippines’ multilateral partners for its vaccination program will help accomplish the government’s target of herd immunity. Finance Secretary Carlos G. Dominguez III...
About P94,589 is every living Filipino’s share of the national government debt as of February, that is P20,000 more. The Bureau of the Treasury reported on Monday, March 29, that the outstanding debt stock of the national government now stood at P10.405 trillion in February, or additional P2.24...
The World Bank-funded modernization project of the Bureau of Customs will align the agency’s processes and standards with the world’s best and most efficient customs services, the Department of Finance (DOF) said. In a statement, Finance Secretary Carlos G. Dominguez III said on Friday,...
The Philippines and Singapore should tap each other’s strengths and explore opportunities for cooperation in developing new digital tools and technologies to take advantage of the growth of start-up companies in the region, the government’s chief economic manager said. During the virtual...
