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President Duterte has approved the recommendation to retain the fuel excise tax under the Tax Reform for Acceleration and Inclusion (TRAIN) Law amid the continuing increase of oil and petroleum products prices, Malacañang announced.

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.

Finance Secretary Carlos Dominguez III did not oppose propositions for the abolition of the Department of Budget and Management’s Procurement Service (DBM-PS) and the Philippine International Trading Corporation (PITC).

The Bureau of Internal Revenue (BIR) filed a total of 84 criminal charges against suspected tax cheats before the Department of Justice (DOJ) during the first half of 2021 for refusal to settle tax debts amounting to P3.1 billion.

President Duterte has an option to ask for a supplemental budget from Congress if the government funds won’t be enough for the cash assistance to people affected by the pandemic lockdown, according to a Palace official.

Senate President Pro Tempore Ralph Recto lamented on Tuesday, July 27, the government’s seeming “lack of urgency” in spending government funds despite the COVID-19 pandemic.

President Duterte snapped at Congress after some lawmakers claimed the government was underspending the funds allotted to the coronavirus response, saying they were only talking about one percent of the money that was actually released.

This early, the government has set aside P45 billion for any acquisition of additional coronavirus vaccines for Filipinos next year.

Around P20 billion will be set aside by the government to procure additional coronavirus vaccines for the country’s young population.

For the sake of transparency, the government is prepared to explain its coronavirus vaccination efforts before a Senate inquiry on Tuesday, June 15.

The soon-to-be enacted Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) will strengthen the culture of research, development, and innovation in the country, the Department of Finance (DOF) said.

The Department of Finance (DOF) worked closely with lawmakers last year in providing technical support leading to swift congressional action on legislative measures that aim to rescue businesses, provide emergency assistance to vulnerable sectors and keep the economy afloat amid the crisis arising from the COVID-19 pandemic.

Instead of Charter change, the Duterte Administration’s chief economic manager has suggested that the lawmakers may consider the further opening up of the local economy to foreign investments.

The Department of Finance (DOF) and the Board of Investments (BOI), which is under the Department of Trade and Industry (DTI), are at loggerheads again.