Finance Secretary Carlos G. Dominguez III has suggested that the government should consider increasing taxes on real-estate properties instead of imposing the wealth tax. “I’m against wealth tax,” Dominguez said at a virtual forum by Financial Executives Institute of the Philippines (FINEX)...
The next elected Philippine president will pay the loans secured by the Duterte administration for the country’s pandemic response, the government’s chief economic manager said on Tuesday, Feb. 22. “Looking realistically our situation, we have to pay for COVID. I mean, we cannot just have...
Local government units (LGUs) COVID-19 response amounted to P118.9 billion as of end June last year, the Department of Finance (DOF) reported on Sunday, Feb. 19. According to the Bureau of Local Government Finance (BLGF), an attached agency of the DOF, of the combined spending of LGUs on COVID-19...
The Philippines will soon launch its maiden $500-million green bonds in the offshore debt markets to help raise funds for the country’s clean energy projects and other sustainable initiatives, the Department of Finance (DOF) announced. Finance Secretary Carlos G. Dominguez III said in a statement...
The Department of Finance (DOF) lauded the Securities and Exchange Commission (SEC) for making significant strides in improving the ease of doing business in the Philippines through its digital transformation. In his report to DOF Secretary Carlos G. Dominguez III, SEC Chairperson Emilio B. Aquino...
The Department of Finance (DOF) is planning to seek 30 billion yen, approximately P13.35 billion, in additional loan from the Japanese government to help fund the country’s ongoing national vaccination program. In a statement, the DOF said the planned 30 billion yen in additional financing...
The deceleration in price increases last January was a welcome development, but the Department of Finance (DOF) warned that the economy should still keep a close watch on oil price movements. In a research note, Finance Chief Economist Gil S. Beltran said on Thursday, Feb. 17, that headline...
The Department of Finance (DOF) is confident that Japan’s commitment to help the Philippines’ infrastructure development and other initiatives will stay beyond President Duterte’s term. Finance Secretary Carlos G. Dominguez III expressed his confidence following the Philippines and Japan 12th...
The Securities and Exchange Commission (SEC) has collected P119.07 million in fees and penalties through its web-based system that allows cashless payment of business registrations, fees, and other charges. SEC Chairman Emilio Aquino said the fees and other charges collected through the Electronic...
The Philippines and Japan will hold another high-level meeting on infrastructure development and economic cooperation this week, the Department of Finance (DOF) announced. Via teleconferencing on Wednesday, Feb. 16, Finance Secretary Carlos G. Dominguez III will chair the Philippine side, while...
Finance Secretary Carlos G. Dominguez III said that failure to file an income tax return (ITR) was not a violation under the 1977 National Internal Revenue Code (NIRC) as failure to file tax returns has become a punishable offense only in 1992. Dominguez issued this clarification Friday, Feb. 11,...
The governments of the Philippines and Japan signed a P112.87 billion loan agreement, the second tranche funding for the construction of the Metro Manila Subway Project, the country's first-ever underground railway. Finance Secretary Carlos Dominguez III, on behalf of the Philippine government, and...
