Finance Secretary Carlos G. Dominguez III said that failure to file an income tax return (ITR) was not a violation under the 1977 National Internal Revenue Code (NIRC) as failure to file tax returns has become a punishable offense only in 1992. Dominguez issued this clarification Friday, Feb. 11,...
The governments of the Philippines and Japan signed a P112.87 billion loan agreement, the second tranche funding for the construction of the Metro Manila Subway Project, the country's first-ever underground railway. Finance Secretary Carlos Dominguez III, on behalf of the Philippine government, and...
Finance Secretary Carlos G. Dominguez III has directed the government’s two main tax agencies to further fortify their respective systems against hacking and other cyber threats amid increasing number of scams perpetrated online against financial consumers. Dominguez said the Bureau of Internal...
The Duterte administration’s revenue effort since it took office emerged as the highest among different presidential terms in over two decades, the Department of Finance (DOF) boasted. In a report to Finance Secretary Carlos G. Dominguez III by the DOF’s Domestic Finance Group (DFG), it said...
Finance Secretary Carlos G. Dominguez III called on tax management professionals to help build trust among taxpayers and encourage them to pay the right amount of taxes instead of finding “loopholes” for their clients to get away and avoid tax obligations. Dominguez said that although the...
FIRB identifies 3 barriers to foreign investments By Chino S. Leyco The prolonged pandemic, high costs of doing business, and foreign equity restrictions in the Philippines are the main barriers to foreign investments in the country, the Fiscal Incentives Review Board (FIRB) said on Wednesday, Jan....
The government was awarded a $52.5 million payout for losses the country suffered due to Typhoon Odette, the Department of Finance (DOF) announced on Tuesday, Jan. 25. Many Filipinos affected by Super Typhoon Odette are still in need of help up to this day In a statement, the DOF said the...
The Securities and Exchange Commission (SEC) has tapped institutional partners to expand the reach of its financial literacy campaign that aims to encourage Filipinos to place their money in safe and secure investments. In its report to Finance Secretary Carlos G. Dominguez III, the SEC said its...
The government signaled a paradigm shift last year in the way the Philippines is tackling the worsening climate crisis sweeping the globe, President Duterte’s official representative to the Climate Change Commission (CCC) said. Screen Shot 2022-01-22 at 2.34.48 PM Finance Secretary Carlos G....
Finance Secretary Carlos G. Dominguez III approved the donation by the Bureau of Customs (BOC) to the Philippine Coast Guard (PCG) of unmarked diesel fuel seized last September and forfeited in favor of the government. The BOC and PCG have already signed a memorandum of agreement on the turnover of...
The inter-agency Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives to a P10-billion cement manufacturing project of San Miguel Equity Investments, Inc., the Department of Finance (DOF) announced. In a statement, the DOF said on Monday, Jan. 17, that the FIRB, upon the...
Finance Secretary Carlos Dominguez III has cited the initiatives of the Capital Market Development Council (CMDC) to make the Philippine financial system “broad-based and inclusive” as among the lasting legacies of the body under the Duterte administration. In step with President Duterte’s...
