Senators on Thurday, July 29, again called for an amendment of the country's tax code to provide a "permanent" solution to the erroneous interpretation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Senate President Pro Tempore Ralph Recto (Senate PRIB) Senate President...
Senator Sonny Angara on Thursday, July 29 welcomed the decision of the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) in suspending the implementation of the new tax regulations on private schools and giving Congress sufficient time to fix the confusion caused by the law....
President Duterte’s two economic managers admitted that a step backward move could be necessary as the country experiences yet another surge in coronavirus infections due to the highly transmissible Delta variant. Finance Secretary Carlos G. Dominguez III said Wednesday, July 28, that the rapidly...
The Department of Finance (DOF) said President Duterte has now accomplished eight tenths of his economic reform program that provided income tax cuts for individuals and corporations. In a statement, Finance Secretary Carlos G. Dominguez III said Wednesday, July 28, that 85 percent of the Duterte...
High-level Philippine and Japanese officials are set meet to virtually this week to discuss infrastructure development and economic cooperation between the two nations. On July 28, Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Karl Kendrick T. Chua will meet with...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno could not emphasize more strongly how crucial the proposed bills on consumer protection are to ensure integrity and trust in the financial system. “These (pro-consumer bills) are seen to further strengthen the trust and confidence of...
Finance Secretary Carlos G. Dominguez III said a strong government-private sector partnership is needed to help the Philippines breach the digital divide and achieve financial inclusion for all Filipinos. Dominguez said the government is fully aware that the private sector’s expertise and...
The Department of Finance (DOF) is crafting “a playbook” that the next administration may consider to relieve the fiscal stress caused by the prolonged pandemic on the national government. With less than a year left before President Duterte's term ends in June next year, Finance Secretary...
The Department of Finance (DOF) is reviewing the Bureau of Internal Revenue’s (BIR) regulation, technically deferring the imposition of the value-added tax (VAT) on exporters’ purchases from local suppliers and indirect/constructive export transactions. Finance Secretary Carlos G. Dominguez III...
Most local executives remained heavily dependent on income they received from the national government to fund their operations, data from the Department of Finance’s (DOF) Bureau of Local Government Finance (BLGF) revealed. Based on the latest operating income reports submitted by local...
The local currency has remained one of the strongest among Asian countries despite the peso’s recent depreciation against the US dollar, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said the peso depreciated by 1.05 percent against the dollar...
The Department of Finance (DOF) expects the elevated rate of increase in food prices would peak this month due to rising volume of meat imports that boosted domestic supply. In a statement on Wednesday, July 14, Finance Undersecretary and Chief Economist Gil S. Beltran said that food price...
