The Department of Finance (DOF) has assured that retired members of the uniformed services will not be affected by the government's proposed pension reforms currently pending in Congress. Finance Undersecretary Cielo D. Magno said one of the key features of the DOF proposal is to maintain the...
The Department of Finance (DOF) has reported that the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law has spurred investment worth over P720 billion. Under the CREATE law, the government has provided tax incentives to major projects amounting to a total...
Japan declared its commitment to support the Philippines in attaining an upper middle-income status in the next few years. A joint committee meeting was held in Tokyo on Tuesday, Aug. 29 between the Philippine delegation and the Japanese government to determine the necessary development assistance...
The Bureau of the Treasury released the implementing rules and regulations (IRR) for the Maharlika Investment Fund (MIF) following comprehensive consultations with the Land Bank of the Philippines and the Development Bank of the Philippines (DBP). Finance Secretary Benjamin E. Diokno said the...
The Department of Finance (DOF) and the Japan International Cooperation Agency (JICA) have sealed a loan agreement to assist the Philippines during disasters and health emergencies. In a statement, the DOF said Finance Secretary Benjamin E. Diokno and JICA Senior Vice President Nakazawa Keiichiro...
The government plans to impose new and revised taxes to generate nearly P500 billion over the next three years, data from the Department of Finance (DOF) showed. Based on the DOF list of revenue measures submitted to Congress, the government has proposed eight tax initiatives that, once approved,...
Finance Secretary Benjamin E. Diokno called upon his regional counterparts to join forces and actively collaborate in overcoming the diverse challenges hindering Southeast Asia's recovery from the Covid-19 pandemic. At the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting in...
The Department of Finance (DOF) said the Philippines maintains its position as the fastest-growing economy in Southeast Asia, surpassing its regional peers despite the second-quarter slowdown. Finance Secretary Benjamin E. Diokno said the country’s gross domestic product (GDP) average growth of...
The International Finance Corporation (IFC), a member of the World Bank, has agreed to invest $250 million in a green bond to be issued by Bank of the Philippine Islands (BPI) of the Ayala Group. In a disclosure to the Philippine Stock Exchange, BPI said this is the biggest deal IFC has done with a...
CAPITAL MARKET DEVELOPMENT THRU NHMFC’S SECURITIZATION PROGRAM. Key officials and Alternate Board of Directors of the National Home Mortgage Finance Corporation (NHMFC) paid a courtesy visit to the newly appointed Bangko Sentral ng Pilipinas Governor Eli Remolona. NHMFC is the sole...
*By Goddes Hope O. Libiran* There's a popular stereotype that finance and economic experts are stiff and inaccessible when it comes to discussing even the basics of why and how the Philippine economy is either in a slump or stepping up. But not Secretary of Finance Benjamin Diokno, whose stellar...
The Department of Finance-Technical Working Group (DOF-TWG) has recommended to exempt from VAT payments local purchases of goods and services by registered business enterprises (RBEs) for their direct and exclusive use, except for six services identified under a planned negative list. In a draft...
