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Finance Secretary Ralph Recto announced that there won’t be any new taxes for the rest of the Marcos administration. He emphasized the government’s focus on reducing unnecessary spending and enhancing revenue collection efficiency to improve its financial…
Senior Citizen party list Rep. Rodolfo Ordanes suggests transferring PhilHealth under the Department of Finance to address the country’s future aging population by 2030. He also proposes expanding SSS, Pag-Ibig Fund, and PhilHealth to cover more informal…
Finance Undersecretary Maria Cielo Magno, one of the Marcos administration’s champions for economic policy reforms, has been forced to vacate her post effective Sept. 16 and is returning to her teaching job at the University of the…
MANILA, Philippines — Finance Secretary Benjamin Diokno, Defense Secretary Carlito Galvez Jr., Interior Secretary Benhur Abalos, representatives from the Office of President and the Department of Budget and Management are set to meet this week to fine-tune…
Pickup trucks will soon become more expensive as the Lower House’s committee on ways and means on Wednesday, August 24, 2022, approved an expanded bill which included slapping excise taxes on this commercial vehicle segment. The removal…
MANILA, Philippines — The Department of Finance is not recommending the suspension of excise tax on fuel products despite rising prices, saying the government should instead provide P200 per month per household for one year to poor…
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…
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…
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…
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…
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…
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…
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