The Department of Finance (DOF) is moving to overhaul the country’s real estate taxation, targeting 2028 for the full rollout of a market value-based property valuation system. In a statement, the DOF said the initiative aims to replace the long-standing and currently suspended zonal value...
The Philippines faces mounting economic and financial risks from climate change, with projected losses reaching as much as 13 percent of gross domestic product (GDP) by 2040 unless the country urgently scales up climate financing and aligns adaptation and mitigation efforts, according to state-run...
International Finance Corp. (IFC), the World Bank Group’s (WBG) private-sector lending arm, has officially invested in Philippine microfinance institution CreditAccess Philippines Financing Co. Inc. (OnePuhunan). IFC disclosed last April 23 that its up to $60-million investment was infused into...
The Philippines and the United States (US) have moved to accelerate the 2026 development agenda for the Luzon Economic Corridor, signaling a deepening of trilateral ties to transform Manila’s industrial heartland into a premier investment destination. Finance Secretary Frederick D. Go met with...
The Philippine government is stepping up efforts to attract high-impact foreign investments, positioning the country as a stable destination amid global uncertainty. Speaking at the Philippine Executive Forum on April 20, Finance Secretary Frederick D. Go outlined the country’s economic case to a...
The United States (US) and the Philippines have selected New Clark City in Tarlac as the site for a 4,000-acre technology economic zone in efforts to rewire global supply chains away from Chinese dominance. Frederick D. Go, who also serves as the country’s investment czar, told Manila Bulletin on...
President Marcos’ chief economic manager is pressing global financial institutions for enhanced budgetary support and emergency financing, warning that escalating Middle East tensions and climate-driven crises are severely narrowing the fiscal maneuvering room for emerging economies. Speaking at...
The Department of Finance (DOF)-led People’s Survival Fund (PSF) has expanded its commitment to local climate action, approving a combined ₱127.3 million in grants for four major adaptation projects across the Philippines. These initiatives, approved during the recent PSF board meeting,...
International Finance Corp. (IFC), the private-sector lending arm of the World Bank Group (WBG), will invest up to $25 million in a structured debt fund that will finance financial technology (fintech) companies, including those operating in the Philippines. In an April 13 disclosure, IFC said its...
Finance Secretary Frederick D. Go has called for stronger ties between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) to expand financing access for small businesses across the region. “Given the EU’s expertise in digital and sustainable finance, Go called for...
President Ferdinand Marcos Jr.’s economic team said Filipino consumers are unlikely to see meaningful relief from the suspension of excise taxes on gasoline and diesel, as any reduction in pump prices would be minimal and likely offset by prevailing market forces. This was the Cabinet-level...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 27-2026, publishing the updated list of medicines exempt from 12-percent value-added tax (VAT), as endorsed by the Food and Drug Administration (FDA). Released on April 8, 2026, the circular covers 2,263...
