The Department of Finance (DOF) challenged the Climate Change Commission (CCC) to call for justice before the international community as the Philippines continues to bear the devastating impact of global warming. Even the Philippines is among the world’s lowest emitters of greenhouse gases,...
The Philippines’ fiscal response is on track to support the economy, but the government needs to address the stagnant consumer confidence that places a drag on the pace of the nation’s recovery, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the country’s...
Finance Secretary Carlos G. Dominguez III said they are evaluating this year’s national budget to determine whether there is need to augment it to help the victims of the recent typhoons that ravaged Luzon and parts of the Visayas. “We are in the process of evaluating the damage of the series...
The national government’s tax effort slipped in the first nine-months of the year after the coronavirus-induced crisis dragged down the Bureau of Internal Revenue (BIR) and Bureau of Customs collections....
State-run Philippine Guarantee Corp. (PhilGuarantee) has set aside facilities to help micro, small and medium enterprises (MSMEs) recover from the coronavirus-induced economic crisis. Alberto Pascual, PhilGuarantee president and chief executive, said they have earmarked P42.3 billion in credit...
State-owned Overseas Filipino Bank (OFBank), the country’s first digital-only and branchless lender, has secured more than 10,000 new deposit accounts in less than four-months of operation, the Department of Finance (DOF) said. In a report submitted to Finance Secretary Carlos G. Dominguez...
The Department of Finance (DOF) has extended the payment of all local taxes, fees and charges imposed by local government units (LGUs) until mid-December to ease the burden on individuals and businesses affected by the community quarantines. In a statement, Finance Secretary Carlos G. Dominguez III...
Taxation is not causing oil refiners to go out of business, the Duterte administration’s chief economic managers maintained. Finance Secretary Carlos G. Dominguez III...
The Bangko Sentral ng Pilipinas (BSP) has adequate room to maintain the low interest rate environment despite the uptick in inflation last October, the Department of Finance (DOF) said. In an economic bulletin, Finance Undersecretary Gil S. Beltran,...
The Department of Finance (DOF) said the government is rapidly digitalizing the country’s agricultural systems and mechanizing farm production to ensure food security over the long run. During the virtual 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Finance...
The implementation of the fuel making system has deterred oil smuggling in the country, resulting in higher revenue collections for the government, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the government’s full-fledged fuel marking program has...
The European Union (EU) has committed grants to the Philippines for agricultural productivity in Mindanao and to provide electricity to its far-flung small island-communities, the Department of Finance (DOF) said. In a statement, the DOF announced that EU Delegation to the Philippines...
