The Action for Economic Reforms (AER) has expressed its continued support for the policy reform initiatives being pushed by the Department of Finance (DOF), particularly the measure pending in the Congress that slashes the corporate income tax (CIT) rate and provides fiscal incentives tailor fit to the needs of the kind of investors the government wants to set up shop in the country.
Read MoreAs a percentage of gross domestic product (GDP), the country’s consolidated General Government (GG) debt stood at 34.1 percent by end-December 2019, or down 0.3 percentage points from the year-ago level of 34.4 percent.
Read MoreFinance Secretary Carlos Dominguez III said Thursday the government has adequate funds to purchase vaccines for the coronavirus disease 2019 (COVID-19) for the 20 million poorest Filipinos once these become available and approved for distribution, most probably by December.
Read MoreFinance Secretary Carlos Dominguez III has commended the Philippine National Police (PNP) for helping save millions of Filipino lives from the highly infectious and lethal coronavirus with its orderly enforcement of mobility restrictions and minimum health standards in this season of the pandemic.
Read MoreThe Duterte administration’s prudent fiscal management strategy has positioned the Philippines as among the countries “in good shape” to meet the challenges spawned by the coronavirus disease 2019 (COVID-19) pandemic and bounce back from this global health crisis, according to the World Bank’s newly named director for the country.
Read MoreFinance Secretary Carlos Dominguez III has underscored President Duterte’s fresh call for the Congress to pass the overdue measure providing an outright 5 percent cut in the corporate income tax rate (CIT) along with tailor-fitted incentives for investors, as an integral component of the government’s comprehensive plan to steer the coronavirus-shattered economy back to the path of high and inclusive growth.
Read Morehe Bureau of Internal Revenue (BIR) has maintained that foreign-based Philippine Offshore Gaming Operators (POGOs) should pay the 5 percent franchise tax before they can resume their operations, as clearly stated in a memorandum circular issued by the agency back in 2017.
Read MoreThe Philippines and the Asian Development Bank (ADB) signed July 1 an agreement for a US$26.5-million loan that aims to improve the capacity of local government units (LGUs) across the country to raise revenues by instituting reforms in local property valuation and tax collection.
Read MoreThe Department of Finance (DOF) has reiterated its warning to the public about false information fraudulently using the name of Secretary Carlos Dominguez III to promote a fake “cryptocurrency auto-trading platform called Bitcoin Revolution.”
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