To account for rising consumer prices and living costs, the Department of Finance (DOF) and its attached agency, the Bureau of Internal Revenue (BIR), are seeking to raise the ceiling for tax-exempt benefits and allowances enjoyed by both private- and public-sector workers. “Under this proposal,...
While the Department of Finance (DOF) is pushing for the swift enactment of its priority tax measures in the 20th Congress, raising the already eye-sore 12-percent value-added tax (VAT) by three percentage points (ppt) next year is off the table. In a Facebook post, the DOF called out Cavite 4th...
Metro Manila West Zone concessionaire Maynilad Water Services Inc. began its capital-raising exercise Thuesday, Oct. 23, with its ₱34.33 billion initial public offering (IPO) open for subscription until Oct. 29, 2025. Maynilad fixed its IPO share price at ₱15 on Oct. 20. The water...
Manila-based Asialink Finance Corporation (AFC) expects to post about ₱2.7 billion in net income by year-end, driven in part by the fresh $75-million (around ₱4.36-billion) term loan facility it secured from United Kingdom-based Standard Chartered Bank (SCB). Asialink said the maiden loan...
President Marcos’ chief economic manager stated that reducing the current 12-percent value-added tax (VAT) rate could weaken the government’s ability to fund operating expenses, such as personnel wages, as it would result in lower tax collections. Finance Secretary Ralph G. Recto said in an...
Department of Finance (DOF) Secretary Ralph Recto on Tuesday, Oct. 14, said the Philippine economy may experience a temporary slowdown in the latter half of 2025 due to ongoing government reforms meant to ensure proper spending of taxpayers’ money, but he expressed optimism that growth will...
Department of Finance (DOF) Secretary Ralph Recto on Tuesday, Oct. 14, said corruption in government infrastructure programs, particularly flood control projects, has hampered the country’s economic growth and affected the government’s ability to meet its revenue targets. During the Senate...
Aside from lead cornerstone investors International Finance Corp. and Asian Development Bank (ADB), Maynilad Water Services, Inc. has signed cornerstone investment agreements with 10 more international and domestic institutions led by the UK’s Foreign, Commonwealth and Development Office, acting...
As the country reconsiders nuclear energy, the Department of Energy (DOE) is set to explore financing options in coordination with the Department of Finance (DOF), the Department of Economy, Planning and Development (DepDev), and the Maharlika Investment Corp. (MIC), among other agencies. In a...
A Singapore-headquartered fund manager is seeking a $25-million equity investment from the World Bank Group’s (WBG) International Finance Corp. (IFC) for its new infrastructure fund to be deployed in Southeast Asia, including the Philippines. In an Oct. 2 disclosure, IFC, the WBG’s...
State insurers Social Security System (SSS) and Government Service Insurance System (GSIS) have offered over ₱10 billion in calamity loans to extend financial aid to members in disaster-hit areas. This follows Department of Finance (DOF) Secretary Ralph G. Recto’s order to government financial...
Maynilad Water Services Inc. may have to woo more cornerstone investors for its ₱45.8-billion initial public offering (IPO) as the prospective $245 million from the World Bank Group ’s (WBG) International Finance Corp. (IFC) and the Manila-based Asian Development Bank (ADB) is a strong vote...
