The Department of Finance (DOF) said that President Marcos will soon sign the law imposing value-added tax (VAT) on foreign digital service providers, such as Netflix.During a Senate Finance subcommittee hearing on Tuesday, Aug. 27, Finance Secretary Ralph G. Recto said the DOF and the Bureau of...
The Department of Finance (DOF) is considering selling the government's stake in the South Luzon Expressway (SLEX) by the end of this year.Finance Undersecretary Catherine L. Fong told Manila Bulletin that the government's ownership in SLEX is included among the assets slated for privatization in...
Finance Secretary Benjamin E. Diokno has ramped up the anti-graft efforts of the Department of Finance through the strengthened operations of the Revenue Integrity Protection Service (RIPS).“Prudent fiscal management must be underpinned by transparency and accountability. As custodians of public...
The Department of Finance (DOF) has reported that the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law has spurred investment worth over P720 billion.Under the CREATE law, the government has provided tax incentives to major projects amounting to a total...
The government plans to impose new and revised taxes to generate nearly P500 billion over the next three years, data from the Department of Finance (DOF) showed.Based on the DOF list of revenue measures submitted to Congress, the government has proposed eight tax initiatives that, once approved,...
The Bureau of Customs has seized P769.67 million-worth of goods in less than two months, mostly illicit shipments of vehicles, cigarettes and other tobacco products, as well as illegal drugs, the Department of Finance (DOF) said.
In a statement released by the DOF Monday, March 7, the...
Finance Secretary Carlos G. Dominguez III has called on the media to help accelerate climate action in the country by spearheading the education and advocacy campaigns necessary to motivate Filipinos to be at the frontlines of the global fight against climate change.
With media playing an...
Collections of locally sourced revenues (LSRs) slightly dipped in the third-quarter, as provinces, cities, and municipalities continue to rely heavily on their respective internal revenue allotment (IRA) shares to fund operations and programs.
In a report to Finance Secretary Carlos G....
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...
The Duterte administration has so far borrowed close to $10 billion to fund the national government’s coronavirus response, the Department of Finance (DOF) said.
In a statement, Finance Secretary Carlos G. Dominguez III said the national government’s financing support for COVID-19 from...
