The Japan International Cooperation Agency (JICA) approved the fourth and final tranche of its standby loan, which will be used in the Philippines’ post-pandemic recovery programs, the Department of Finance (DOF) announced. JICA In a statement, Finance Secretary Carlos G. Dominguez III said the...
The modified tariff rates on imported pork products and rice have resulted in foregone revenues for the government, but the Department of Finance (DOF) said the economic benefits far outweigh the costs. Peso Finance Undersecretary Antonette C. Tionko said the government is projected to lose P5.4...
Following consultations with the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR), the Department of Energy (DOE) said it will issue a circular to serve as policy guide on the 10-percent corporate income tax (CIT) rate tol be levied to renewable energy (RE) investors in the...
The Bureau of Internal Revenue (BIR) would dig deep into the world of marketing to unearth social media influencers who are earning huge income without paying taxes, the Department of Finance (DOF) said. BIR LOGO Finance Undersecretary Antonette C. Tionko said Tuesday, August 17, that the issuance...
The Philippines' economic recovery slowed in the second-quarter due to heightened restriction measures for Metro Manila and nearby provinces, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said that while the economy grew by double-digits in April to...
The reimposition of stricter movement restrictions will put further pressure on the local labor market that gingerly recovered with the easing of quarantine measures since April, the Department of Finance (DOF) said. In an economic bulletin, Finance Undersecretary Gil S. Beltran said the two-week...
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. (Photo by Roth Melinda/ Unsplash) The BIR also padlocked 274 firms...
The Department of Finance (DOF) said the growing roster of real estate investment trust (REIT) offerings will propel the growth of the Philippines’ property sector beyond the pandemic, serving as one catalyst for the country's quick and strong recovery. In a statement, Finance Secretary Carlos G....
Job creation and poverty alleviation will be a major challenge for the government next year as the Department of Finance (DOF) admitted that uncertainly about the economic recovery will remain until the pandemic is contained. DOF Building in Manila Based on the DOF’s “Macroeconomic Framework...
The Department of Finance (DOF) said the coco levy trust fund is a “powerful instrument” that will reinvent the coconut industry and ensure support for farmers amid the continuing decline of copra prices in the global market. Finance Secretary Carlos G. Dominguez III said on Wednesday, August...
The Department of Finance (DOF) said the national government has sufficient funds to provide cash assistance, especially for poor families, during the two-week enhanced community quarantine (ECQ). Finance Secretary Carlos G. Dominguez III said on Wednesday, August 4, that the needed P12 billion for...
President Duterte’s chief economic manager said the country’s recovery efforts from pandemic has no room for the Bureau of Internal Revenue (BIR), the government’s main tax agency, to fail in raising much-needed revenues. After the bureau addressed the tax issues involving the prizes given to...
