DOF orders BIR to track, tax online sales

Ben O. de Vera 10/27/2021

The Bureau of Internal Revenue (BIR) is putting up a dedicated unit that will track digital sales transactions and capture the correct taxes due from these goods and services. In a statement on Tuesday, the Department of…

DOF seeks return of P33B ‘parked’ in PITC to gov’t coffers – Drilon

Christia Marie Ramos - Reporter / @CMRamosINQ 11/26/2020

MANILA, Philippines — The Department of Finance (DOF) is seeking the return of some P33 billion “parked” in the coffers of the Philippine International Trading Corporation (PITC) to the national government. This was according to Senate Minority…

PH to get $1.9B in new loans from World Bank

Ben O. de Vera 08/15/2020

The World Bank will approve financing for another $1.9 billion in projects in the Philippines before yearend to help the economy recover from the COVID-19-induced recession, the Department of Finance (DOF) said on Friday. Specifically, the World…

DOF to ban online sale of ‘sin’ products

Ben O. de Vera 07/06/2020

MANILA, Philippines — While cigarettes and liquor are enjoying brisk sales online in the time of pandemic and are delivered to the comforts of home of buyers, who may include minors, the Department of Finance (DOF) wants…

DOF extends deadline to pay local taxes, fees

Ben O. de Vera - Philippine Daily Inquirer 05/02/2020

All local government units (LGUs)—provinces, cities, municipalities, and barangays—have been ordered to extend until June 25 the payment deadlines of all taxes, fees, and charges that fell due during the COVID-19 lockdown. This order was contained in…

Gov’t to revamp ‘Build, Build, Build’

Ben O. de Vera - Philippine Daily Inquirer 04/13/2020

In light of the socioeconomic fallout caused by the COVID-19 pandemic, the Duterte administration’s ambitious “Build, Build, Build” program may be reconfigured to prioritize health infrastructure and address potential funding issues. Presidential adviser for flagship programs and…

Gov’t rolls out P27-B package vs COVID-19

Darryl John Esguerra - INQUIRER.net 03/17/2020

MANILA, Philippines — The Duterte administration’s economic team has announced a P27-billion package to provide economic relief to businesses and workers affected by the coronavirus disease 2019 (COVID-19) outbreak. “Mula po sa economic cluster, headed by (Finance)…

DOF: April 15 deadline to pay tax stays

Ben O. de Vera 03/16/2020

MANILA, Philippines — The Bureau of Internal Revenue cannot postpone the tax-payment deadline next month even as the government is working on some relief for personal and corporate taxpayers amid the one-month community quarantine of Metro Manila,…

‘Sin’ tax collections hit P269B in 2019

Ben O. de Vera - Philippine Daily Inquirer 02/01/2020

Collections from so-called sin products, including sugary drinks, totaled P269.1 billion in 2019 amid higher excise tax rates slapped on their consumption, Department of Finance (DOF) data showed. Based on preliminary figures from the DOF’s strategy, economics…

Gov’t earned P12.3B from rice tariffs in 2019

Ben O. de Vera - Philippine Daily Inquirer 01/11/2020

Collections from the tariffs slapped on imported rice reached P12.3 billion last year, exceeding the P10 billion to be spent yearly on programs that will support farmers disadvantaged by liberalized trade, the Department of Finance (DOF) said.…

P288-B unsolicited project proposals for Cebu await action from Neda, other agencies

Irene R. Sino Cruz 09/26/2019

CEBU CITY, Philippines —Two unsolicited project proposals for Cebu with combined cost of about P288 billion are awaiting further action from the Investment Coordination Committee (ICC), according to a statement from the Nation Economic Development Authority (Neda).…

Dole-administered database to track foreign workers’ tax payments sought

07/03/2019

MANILA, Philippines – The government will come up with a single interagency database containing the names and information of all foreign workers in the country in a bid to collect all the personal income taxes due from…

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