The Department of Finance (DOF) onboarded a new talent from the Sy-led China Banking Corp. to lead the unit responsible for analyzing emerging economic issues and developments. Domini S. Velasquez, the former chief economist of Chinabank, is set to join the DOF this week to head the Office of the...
Finance Secretary Ralph G. Recto expressed his gratitude to the Philippine Stock Exchange (PSE) for its support and trust in his appointment. At a recent event hosted by the PSE to celebrate the new finance chief's appointment, Recto shared that this support “means a lot” for him as he...
New taxes are still a possibility, as the Department of Finance (DOF) clarified that the Marcos administration is just currently not keen on introducing additional tax proposals, apart from its existing priority tax measures. Finance Secretary Ralph G. Recto said the DOF is not developing new tax...
Finance Secretary Ralph G. Recto calls on the Bureau of Customs (BOC) to keep the cash flowing, stressing the crucial link between efficient tax collections and funding at least a fifth of the government's spending. Addressing BOC employees during the agency’s anniversary celebration on Tuesday,...
The Department of Finance (DOF) is actively pursuing the removal of tax exemptions for pickup trucks that are not essential for small business operations. According to the DOF proposal, the reintroduction of excise tax on pickup trucks marketed as "lifestyle passenger vehicles" will significantly...
The Department of Finance (DOF) has thrown its support behind the proposed Constitutional amendments that aim to enable foreign ownership in the country's mass media, education, and advertising sectors. During the Senate deliberations on Charter change on Monday, Feb. 12, Finance Undersecretary...
The news of the country's debt nearing P15 trillion is undoubtedly alarming. It raises the question of why the government continues to borrow extensively, despite its significant indebtedness. While many Filipinos tend to avoid borrowing, viewing debt as inherently negative and a sign of poor...
The Marcos administration is seeking financial support from a US foreign aid agency to bolster its efforts to combat corruption and enhance revenue generation, the Department of Finance (DOF) said. Finance Secretary Ralph G. Recto said the Washington-backed Millennium Challenge Corp. (MCC) could...
A major restructuring at the Department of Finance (DOF) could be in the offing as Malacañang is set to appoint three new undersecretaries and one assistant secretary to the agency. The DOF is expected to undergo significant changes with new Finance Secretary Ralph G. Recto inclined to...
The Department of Finance (DOF) stated that the government is committed to implementing measures to reduce inflation, thereby stimulating private spending to drive growth and increase government revenues. In a statement on Wednesday, Jan. 31, Finance Secretary Ralph G. Recto said the government...
The Department of Finance (DOF) has committed to partnering with US investors to explore potential investments in critical minerals, semiconductors, and energy security in the Philippines. This commitment has been made following the meeting between Finance Secretary Ralph G. Recto and United States...
Finance Secretary Ralph G. Recto said that interest rates would go down in the second semester of the year. On the sidelines of the annual reception for the banking community late Friday, Jan. 26, Recto stated that he expects a decrease in the cost of borrowing, both domestically and offshore,...
