The Department of Finance (DOF) has stated that the expected revenue from the "refined" five tax reform proposals will fall short of the initial projections made by the agency. Finance Secretary Ralph G. Recto said late Friday, Jan. 26, that the projected revenue gain of P213 billion from the...
The Department of Finance (DOF) plans to push for approval of five pending tax measures in Congress within this year to raise around P213 billion by the end of President Marcos' term. In the absence of new tax proposals, Finance Secretary Ralph G. Recto said the DOF will continue to push for the...
The Department of Finance (DOF) has urged the Insurance Commission (IC) to develop new products aimed at addressing emerging challenges, notably climate change. Finance Secretary Ralph G. Recto said there is the need to develop new products, implement innovative solutions, and utilize new...
The Department of Finance (DOF) has vowed to prioritize efforts aimed at curbing the elevated consumer prices that are impeding the country's economic growth and hindering the generation of additional government revenues. In a briefing on Wednesday, Jan. 24, Finance Secretary Ralph G. Recto said...
E-cigarette and vape manufacturers and distributors in the country are in favor of the Department of Finance's (DOF) efforts to improve tax collection efficiency and pursue tax evaders, including those involved in the vapor products sector. In a statement, Joey Dulay, Philippine E-cigarette...
Finance Secretary Ralph G. Recto met with the government’s tax collectors to discuss strategic plans to achieve the Marcos administration's target of generating P4.3 trillion in revenues this year. On Tuesday, Jan. 23, Recto held a meeting with the Bureau of Internal Revenue's (BIR) management...
The Department of Finance (DOF) said the Philippines is committed to providing a welcoming environment for potential investors from the United States, symbolically represented by the concept of rolling out a "red carpet." In a statement, Finance Secretary Ralph G. Recto has assured US officials of...
The Department of Finance (DOF) announced that the national government plans to borrow from small Filipino investors in the first three months of the year to cover its budget shortfall. In statement on Friday, Jan. 19, the DOF has stated that the Bureau of the Treasury is preparing to issue another...
The Department of Finance (DOF) has reported that the law providing tax relief for eligible companies has resulted in the creation of over 100,000 jobs for Filipinos since its implementation two years ago. Data from the DOF showed that total approved investments under the Corporate Recovery and Tax...
Surigao del Norte 2nd district Rep. Robert Ace Barbers (left), DOF Secretary Ralph Recto (MANILA BULLETIN/ Facebook) Surigao del Norte 2nd district Rep. Robert Ace Barbers said the recent designation of his former House colleague Ralph Recto as Department...
The Department of Finance (DOF) has stressed the importance of determining the most efficient and economically viable approach to carbon taxation before introducing it in the Philippines. Finance Secretary Ralph G. Recto said on Tuesday, Jan. 16, that it is vital to find the most suitable way to...
Finance Secretary Ralph G. Recto has chosen to retain all officials of the Department of Finance (DOF) in their current roles as he assumes one of the most challenging positions in the government. In a Department Order No. 03-2024 signed by Recto on Monday, Jan. 15, the finance chief made a single...
