The inter-agency Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives to a P10-billion cement manufacturing project of San Miguel Equity Investments, Inc., the Department of Finance (DOF) announced. In a statement, the DOF said on Monday, Jan. 17, that the FIRB, upon the...
Finance Secretary Carlos Dominguez III has cited the initiatives of the Capital Market Development Council (CMDC) to make the Philippine financial system “broad-based and inclusive” as among the lasting legacies of the body under the Duterte administration. In step with President Duterte’s...
The Department of Finance (DOF) said the government will finalize within this month the Strategic Investment Priority Plan (SIPP) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, Finance Secretary Carlos G. Dominguez III said on Wednesday, Jan. 12, that the...
House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate on Tuesday, Jan. 11 called for a congressional investigation into the Manila Bulletin report that a new incident of data breach of Commission on Elections (COMELEC) servers took place over the weekend. Bayan Muna Rep. Carlos...
The Department of Finance (DOF) has commended President Duterte and the members of Congress for the enactment of a law that will further liberalize the economy and open up the country to more foreign direct investments (FDIs). Finance Sec. Carlos Dominguez III In a statement, Finance Secretary...
The Department of Finance (DOF) remains optimistic that Congress will pass this year the remaining tax reform packages that aim to reform the property valuation system and simplify capital market taxation. After the legislature was able to act on a slew of economic liberalization bills in 2021,...
Saying that the P5,000 special risk allowance for medical frontliners is “too low,” President Duterte on Thursday, Jan. 6, approved the increase of such allowance due to the surge of coronavirus cases in the country. (Jansen Romero/MANILA BULLETIN FILE PHOTO) This came after he made a call to...
The capitalization of the Real Estate Investment Trusts (REITs) in the Philippines zoomed in less than two-years, placing the country in the middle of the pack among major economies in the South and East Asian regions. In a report to Finance Secretary Carlos G. Dominguez III, the Securities and...
Gen. Dionardo Carlos, chief of the Philippine National Police (PNP), has tested positive for the coronavirus, he confirmed on Tuesday, Jan. 4. Carlos said that aside from him, the driver of his service van and a police aide also tested positive based on the swab test result which he himself ordered...
As oil companies move to implement a big time oil price hike starting this week, an opposition leader aired strong suspicion that government economic managers are blocking efforts in Congress to suspend excise tax on petroleum products for at least six months. Gasoline pump Deputy Minority Leader...
The prolonged pandemic has brought unprecedented economic challenges worldwide. In the Philippines, the COVID-19 crisis has wiped out the country’s gains over the past years as it incurred a staggering P1.4-trillion loan to fight the pandemic. Two years in, the virus remains very unpredictable...
After exiting from the bankruptcy protection (Chapter 11) proceedings, the Department of Finance (DOF) said the government is ready to discuss any financing request coming from flag-carrier Philippine Airlines (PAL). Finance Secretary Carlos G. Dominguez III said on Saturday, Jan. 1, that the DOF...
