As government sets to allow Filipino citizens to access online casino websites, the Department of Finance (DOF) is quick to remind operators that there is no tax distinction between onshore and offshore gaming operations. Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will need to borrow P38.4 billion this year to augment the funds needed for the power rate reduction subsidy mandated under Republic Act 11371 or the Murang Kuryente Act (MKA) that was signed by President Rodrigo Duterte...
Economy in 2021 MB file The Duterte administration’s chief economic manager is confident the country would see a strong recovery next year as mobility restrictions ease allowing more people to safely return to work while complying with minimum health standards. In a statement, Finance Secretary...
Finance Secretary Sonny Dominguez (NTF AGAINST COVID-19 / MANILA BULLETIN) The Department of Finance (DOF) urged the chief executives of local government units (LGUs) to borrow money to bankroll projects that would help the country recover from the coronavirus-induced global economic crisis....
Monetary support to government companies is set to breach last year’s record by October driven by the Duterte administration’s coronavirus response, data from the Bureau of the Treasury revealed over the weekend. Total subsidies to government-owned and -controlled corporations (GOCCs) reached...
The US government through the US Agency for International Development (USAID), the federal-funded agency responsible for administration of all foreign funds for developmental programs, has vowed to double down its assistance to the Philippines over the next five years. USAID Mission Director to the...
The Department of Finance (DOF) urged local chief executives to rally behind its proposed legislative measures to help the country recover from the pandemic-induced economic crisis. Finance Secretary Carlos G. Dominguez III (Bloomberg file photo) During the webinar hosted by the Bureau of...
Amid the tax predicaments raised by Petron on its refining business, the Department of Finance (DOF) indicated that it is not amenable to proposed tweaks in the country’s tax laws as applied to the supply chain of the downstream oil sector. Finance Secretary Carlos G. Dominguez III (MANILA...
The governments of the Philippines and Japan will proceed with their high-level discussions on the progress of the Tokyo-funded infrastructure projects under the "Build, Build, Build" program despite the ongoing pandemic, Department of Finance (DOF) said. In a statement, DOF said the...
The Power Sector Assets and Liabilities Management Corp. (PSALM) has sent out final letters of demand for payment to two companies with long overdue obligations with the government, the Department of Finance (DOF) said. In a statement, the DOF revealed that final demand letters by PSALM...
After 9 months to Sept. The national government’s budget deficit slid in September this year as both revenues and spending contracted during the month, data from the Bureau of the Treasury showed. The Duterte administration incurred a P138.5 billion fiscal gap last month, down by 22 percent...
The Bangko Sentral ng Pilipinas (BSP) will not be issuing its own central bank digital currency (CBDC) in the next three or five years, according to its highest-ranking official. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. (Bloomberg file photo) When asked if the BSP could come...
