The Department of Finance (DOF) said the growing roster of real estate investment trust (REIT) offerings will propel the growth of the Philippines’ property sector beyond the pandemic, serving as one catalyst for the country's quick and strong recovery. In a statement, Finance Secretary Carlos G....
The government’s chief economic manager said the country’s recovery remains “promising” despite “speed bumps” this year. Finance Secretary Carlos Dominguez III Finance Secretary Carlos G. Dominguez III said he is still optimistic over the Philippines’ “promising” prospects for a...
The Department of Finance (DOF) said the coco levy trust fund is a “powerful instrument” that will reinvent the coconut industry and ensure support for farmers amid the continuing decline of copra prices in the global market. Finance Secretary Carlos G. Dominguez III said on Wednesday, August...
The Department of Finance (DOF) said the national government has sufficient funds to provide cash assistance, especially for poor families, during the two-week enhanced community quarantine (ECQ). Finance Secretary Carlos G. Dominguez III said on Wednesday, August 4, that the needed P12 billion for...
The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for a mass housing project and two cement manufacturing plants all located outside Metro Manila. Chaired by Finance Secretary Carlos G. Dominguez III, the FIRB during its third meeting last August 2 approved the tax...
Finance Secretary Carlos G. Dominguez III has assured hotel owners that the government is doing all it can to support the revival of more robust hospitality and tourism sectors in the post-pandemic era. But despite government’s effort to scale up the country’s mass vaccination program to fully...
President Duterte’s chief economic manager said the country’s recovery efforts from pandemic has no room for the Bureau of Internal Revenue (BIR), the government’s main tax agency, to fail in raising much-needed revenues. After the bureau addressed the tax issues involving the prizes given to...
The Department of Finance (DOF) said President Duterte has now accomplished eight tenths of his economic reform program that provided income tax cuts for individuals and corporations. In a statement, Finance Secretary Carlos G. Dominguez III said Wednesday, July 28, that 85 percent of the Duterte...
The Philippines and Brunei Darrusalam have signed an agreement aimed at eliminating double taxation and preventing fiscal evasion on taxes on income arising from cross-border transactions between the two Southeast Asian nations. The agreement was signed by Finance Secretary Carlos G. Dominguez III...
The Department of Finance (DOF) expects the elevated rate of increase in food prices would peak this month due to rising volume of meat imports that boosted domestic supply. In a statement on Wednesday, July 14, Finance Undersecretary and Chief Economist Gil S. Beltran said that food price...
State-run National Transmission Corp. (Transco) plans to remit the company’s entire profit to the government’s coffers to help fund the country’s coronavirus response programs, the Department of Finance (DOF) revealed. In a statement, the finance department said on Tuesday, July 13, that...
The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative. BSP Gov. Benjamic Diokno and Finance Sec. Carlos Dominguez III Finance Secretary...
