State-run National Transmission Corp. (Transco) plans to remit the company’s entire profit to the government’s coffers to help fund the country’s coronavirus response programs, the Department of Finance (DOF) revealed. In a statement, the finance department said on Tuesday, July 13, that...
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 Secretary...
The Department of Finance (DOF) has flagged a possible sugar smuggling scheme employed by unscrupulous traders taking advantage of the Sugar Regulatory Administration’s (SRA) export replenishment program. In a statement on Monday, July 12, Finance Secretary Carlos G. Dominguez III said he has...
The arrival of more coronavirus vaccines will provide the country’s economy a big shot in the arm, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said that health risks posed by the pandemic should be managed effectively and efficiently to ensure...
The Bureau of Customs registered a spike in pork imports following the government’s order lowering tariffs on swine meat shipments that aims to stabilize the domestic supply and prices, the Department of Finance (DOF) said. In a report to Finance Secretary Carlos G. Dominguez III, the Customs...
Overall borrowings by the national government decreased by more than half in May this year, data from the Bureau of the Treasury showed. The Duterte administration’s gross financing went down by 61 percent to P112.2 billion in May from P289.82 billion in the same month last year due to lower...
The Department of Finance (DOF) said the government has set up a registry that will monitor the status of the assets acquired using the multibillion-peso coconut levy fund. In a statement, Finance Secretary Carlos G. Dominguez III said they have established the Coco Levy Asset Registry that will...
The finance and trade departments signed the implementing rules and regulations (IRR) of the corporate recovery and tax Incentives for enterprises (CREATE) law, the government’s largest fiscal stimulus package for businesses in the country’s history. Ahead of the July 10, 2021 deadline, Finance...
The Department of Finance (DOF) thanked the Japanese government for its funding assistance extended to the Philippines that supported its coronavirus response efforts, especially in providing emergency assistance to vulnerable sectors. In a statement, Finance Secretary Carlos G. Dominguez III said...
The Department of Finance (DOF) expects revenues from real property tax (RPT) would accelerate as local government units (LGUs) enhance their digital tools to strengthen local property valuation and tax collections. In a statement, Finance Secretary Carlos G. Dominguez III said on Tuesday, June 22,...
The government task force in charge of wage subsidy has given employers and employees until end of this month to return the cash aid disbursed to ineligible workers, the Department of Finance (DOF) said. In a statement released by the DOF, the department said that the Small...
The Department of Finance (DOF) assured that the national government will to assist local airliners reeling from the prolonged coronavirus pandemic. Amid mounting financial losses of airlines due to COVID-19 headwinds, Finance Secretary Carlos G. Dominguez III said that two state-run lenders have...
