Instead of Charter change, the Duterte Administration’s chief economic manager has suggested that the lawmakers may consider the further opening up of the local economy to foreign investments. While Finance Secretary Carlos G. Dominguez III did not categorically state that he is not in favor of...
The government’s two main tax agencies have surpassed their respective collection goals last year, which the economic managers lowered in the wake of the coronavirus-induced economic crisis. Preliminary data from the Department of Finance (DOF) showed that the Bureau of Internal Revenue...
The Department of Finance (DOF) said it continues the rigorous lifestyle checks on its officials and employees as well as advocating a continuing review of processes and procedures in all its offices to further reduce opportunities for corruption. Finance Secretary Carlos G. Dominguez III said the...
Firms on wait-and-see mode Finance Secretary Carlos G. Dominguez III Investment and expansion plans in the country are currently treading water as they await the delayed approval of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, the Duterte administration’s chief...
The Department of Finance (DOF) assured that the government will practice prudence in granting regulatory relief to projects deemed critical to the Philippines’ economic recovery. In a statement, Finance Secretary Carlos G. Dominguez III said the DOF-led committee tasked to identify qualified...
The Department of Finance (DOF) thanked Japan for quickly disbursing another disaster response loan that aims to support ongoing government efforts to rehabilitate areas and help families affected by the series of powerful typhoons in the final months of last year. Finance Secretary Carlos G....
The Department of Finance (DOF) said it will comply the Supreme Court’s order barring the imposition of franchise tax on all bets generated by Philippine offshore gaming operations (POGOs) Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue (BIR) will halt the...
State-lender Land Bank of the Philippines further increased its loan releases to agriculture sector in November last year, the Department of Finance (DOF) announced. In a statement, the DOF said that Land Bank disbursed additional P1.44 billion worth of loans to farmers, agribusiness enterprises...
The governments of the Philippines and India plan to explore ways of enhancing economic cooperation, especially in the areas of “financial and digital technologies” as well as infrastructure development. In a statement, the Department...
Dividends remitted by government-owned or controlled corporations (GOCCs) nearly doubled this year that helped the country’s efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals. Data from the Department of Finance (DOF) showed that...
The Philippines and Japan have reaffirmed their commitment to further build on their strong economic partnership, which includes plans to expand Japanese investments in the country following favorable developments on a tax reform measure. Newly designated Japan Ambassador to the Philippines...
The Department of Finance (DOF) said the country’s economic recovery is “not smooth” due to continued restrictions that dampened consumer and investor sentiment. In his latest economic bulletin, Finance Undersecretary and Chief Economist Gil S. Beltran explained that consumers and investors...
