The Bureau of Internal Revenue (BIR), the government’s main tax collection agency, has laid down its programs for the year to raise its collection performance to support its goal for a 7.23 percent increase in tax collection this year. In a statement, BIR Commissioner Caesar R. Dulay said the...
The national government has infused new capital to the Development Bank of the Philippines (DBP) to provide additional buffer for the state-lender’s coronavirus response programs. In a statement, Finance Secretary Carlos G. Dominguez III said the government has recently released P12.5 billion in...
The National Economic and Development Authority (NEDA), the country's chief economic development planner, said the country needs to strike a better balance in managing the health and economic threats, particularly in Metro Manila where almost a quarter of its population suffer from hunger. Acting...
Think tank Action for Economic Reforms (AER) has called on President Duterte to line item veto some provisions of the ratified corporate recovery and tax incentives for enterprises (CREATE) bill. In a statement, AER raised five concerns regarding certain provisions of the CREATE bill that was...
Finance Secretary Carlos G. Dominguez III has commended the Bureau of Customs for its better-than-expected revenues last year while ensuring the free flow of goods and redoubling its campaign against smuggling. During the Customs anniversary celebration last Tuesday, Dominguez said the...
The Philippine government is eyeing a way bigger minimum access volume (MAV) allocation, or about 388,790 metric tons (MT), for pork. This is just one of the proposals of the Department of Agriculture (DA) in terms of addressing the shortfall in the supply of the commodity as well as bring down its...
The Department of Finance (DOF) worked closely with lawmakers last year in providing technical support leading to swift congressional action on legislative measures that aim to rescue businesses, provide emergency assistance to vulnerable sectors and keep the economy afloat amid the crisis arising...
The Duterte administration has borrowed P741.59 billion from foreign creditors last year for the country’s coronavirus response, the Department of Finance (DOF) said. Data from the DOF’s International Finance Group (IFG) showed that the government has contracted a total of $17.06 billion,...
The Department of Finance (DOF) said it will tap loan financing from multilateral lenders to ensure that the government has more than enough vaccine doses to inoculate adult Filipinos against the coronavirus. Finance Secretary Carlos G. Dominguez III said they are targeting about $1.3 billion loan...
The Asian Development Bank (ADB) is preparing additional funding support for the government’s purchase of coronavirus vaccines following the initial loan allotment for this year. In a statement, the Manila-based multilateral financial institution said a follow-on support is being considered by...
The Department of Finance (DOF) said that three-fourths of the record cash dividends remitted by government-owned and controlled corporations (GOCCs) last year partly funded the social amelioration program (SAP). In a statement, Finance Undersecretary Antonette Tionko said that about P119.1 billion...
Finance Secretary Carlos G. Dominguez III has assured full support to the Department of Education’s (DepEd) efforts to ensure that Filipino learners continue their schooling despite the challenges brought by the coronavirus pandemic. MB file Dominguez said the DepEd's blended or hybrid learning...
