The Department of Finance (DOF) reported that the comprehensive tax reform program (CTRP) initiated by President Duterte since he took office has yielded more than half a trillion pesos in fresh government revenues. In a report to Finance Secretary Carlos G. Dominguez III, the DOF’s Domestic...
The series of tax reforms, unparalleled infrastructure investments and the enactment of the law that cleared the way to the long-sought return of the coco levy funds are among the lasting legacies of the Duterte administration on the economic front, a Cabinet official said. During the Duterte...
President-elect Marcos’ chief economic manager has high hopes for incoming Socioeconomic Planning Arsenio M. Balisacan, describing the latter as the “poverty guru” of the next administration tasked to bring down the nation’s poverty rate to single-digit. Incoming Finance Secretary Benjamin...
The Marcos administration can attain the Philippines' first “A” credit rating status within two years as long as it has a credible and doable fiscal consolidation program, the incoming chief economic manager said. Incoming Finance Secretary Benjamin E. Diokno said in an interview that the next...
Incoming Finance Secretary Benjamin E. Diokno would seek for consensus among lawmakers and members of the executive department before pursuing the Marcos administration’s own fiscal consolidation plan. New and higher taxes are not off the table, Diokno said in an interview with Manila Bulletin,...
Instead of new and higher taxes, the incoming chief of the Department of Finance (DOF) wants to focus mainly on the government’s tax administration during the first year of President-elect Ferdinand R. Marcos Jr. Incoming Finance Secretary Benjamin E. Diokno said he is not worried about the...
Outgoing Finance Secretary Carlos G. Dominguez III said the next administration may possibly consider selling the property where the Ninoy Aquino International Airport (NAIA) is built on to raise more revenues. While privatization is not included in his fiscal consolidation program proposal to...
The average yield of palay farmers during the dry season has increased since the rice tariffication law (RTL) three-year ago, the Department of Finance (DOF) reported. In a statement, the DOF said on Thursday, May 26, that the implementation of RTL has raised palay output during the dry season from...
Finance Secretary Carlos G. Dominguez III has received reports that some Bureau of Internal Revenue (BIR) personnel have allegedly harassed a number of businesses to raise money for the Department of Finance (DOF) chief’s parting gift. A “pabaon” to be given prior to his retirement on June 30...
The Department of Finance (DOF) has ordered the suspension of the special audit task forces of the Bureau of Internal Revenue (BIR) for causing uncertainty for some taxpayers. Finance Secretary Carlos G. Dominguez III said Revenue Special Orders (RSOs) and Operations Memoranda (OMs) have resulted...
Gov’t earns P46 B from rice reform bY Chino S. Leyco Forty-six billion pesos, that was the amount earned by the national government since the law liberalizing rice trading was implemented three-years ago, the Department of Finance (DOF) emphasized. Finance Secretary Carlos G. Dominguez III...
The national government has paid in full its P300 billion loan with the Bangko Sentral ng Pilipinas (BSP), well ahead of the maturity date next month, the Department of Finance (DOF) announced. In a statement, Friday, May 20, Finance Secretary Carlos G. Dominguez III said the repayment of the...
