The Department of Finance (DOF) said that local airlines have yet to submit the final loan plan to activate their P700 million financial support earmarked under the government’s economic stimulus programs. (Manila Bulletin File Photo) Finance Secretary Carlos G. Dominguez III said the amount of...
The Philippines remains in a strong fiscal position to meet the financial challenges posed by the coronavirus pandemic and ride out the global economic crisis, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the government has the financial muscles to reboot the...
Despite the declining prices of locally produced palay, the Philippine government agencies are in full force to defend the Rice Tariffication Law (RTL), which allowed the unlimited entry of cheaper imported rice in the country. On Thursday (Oct. 8), four government agencies – the Department of...
Congress should immediately pass the two pending measures of the Duterte administration to help the pandemic-hit businesses that are mainly micro, small, and medium enterprises (MSMEs), the Department of Finance (DOF) said. Finance Assistant Secretary Antonio Joselito Lambino II said the Corporate...
The Department of Finance (DOF) wants to revive the mining industry to create jobs in rural as well as generate revenues for the government’s efforts in rebuilding the economy hit by the pandemic. At the virtual Philippine Business Conference and Expo, Finance Secretary Carlos G. Dominguez III...
Businesses are pessimistic about their operations in the short-term as sales revenue remained depressed despite the easing community quarantine, a survey commissioned by the government and World Bank revealed. Based on the results from the Philippines COVID-19 firm survey, business owners claimed...
The national government’s two main tax agencies exceeded their revised collection target in the first eight-months of the year, but remained lower than last year’s performance, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue...
US President Donald Trump is not a taxpayer in the Philippines, but private companies “with his name” could have had paid levies to the Bureau of Internal Revenue (BIR), Finance Secretary Carlos G. Dominguez III clarified today. WASHINGTON, DC - AUGUST 13: U.S. President Donald Trump...
The Philippine upstream subsidiary of Royal Dutch Shell plc is planning to sell its 45-percent stake in the US$4.5 billion Malampaya deep water gas-to-power project if it can corner enticing offer from prospective takers. Highly placed sources from government indicated that Shell Philippines...
The national government posted a significantly wider budget deficit last month despite the Duterte administration's almost flat spending due to dwindling revenues amid the pandemic, data from the Bureau of the Treasury showed. Official data showed the national government’s fiscal gap swelled by...
The Philippines has the lowest gross external debt position among the major Southeast Asian economies, placing the country in a much stronger position to cushion the blow of the coronavirus-induced crisis, the Department of Finance (DOF) assured. Finance Undersecretary Gil S. Beltran In his latest...
The Duterte administration may borrow less than programmed for the rest of the year should the government’s two main tax agencies continue to exceed their downscaled collection targets, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III ( MB FILE, Albert Garcia) While...
