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7.4 million households to receive unconditional cash transfers in 1st quarter

Unconditional cash transfers (UCTs) amounting to P2,400 for 2018 will be distributed within the first quarter to  some 7.4 million households, comprising the 4.4 million existing beneficiaries under the Pantawid Pamilyang Pilipino Program (4Ps) and 3 million  indigent senior citizens already receiving social pensions, according to the Department of Finance (DOF).  Finance Undersecretary Karl Kendrick Chua said the schedule Read More

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TRAIN to eventually rescue 21-M Filipinos from poverty

The Tax Reform for Acceleration and Inclusion Act (TRAIN) will set the staging ground to rescue 21 million Filipinos from poverty in the long run because additional revenues from this law will allow government to spend more on health, education and other social services that will provide opportunities for prosperity to all Filipinos, according to the Department of Finance (DOF).  Read More

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DOF cites better collection of tobacco excise taxes with TRAIN

The year-on-year January 2018 inflation rate of 4 percent, which is still within the target set by the Bangko Sentral ng Pilipinas (BSP), was partly the result of better compliance with the payment of excise taxes on “sin” products, with tobacco inflation recorded at 17.4 percent during the same period even though the expected increase arising from Read More

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Dominguez orders BIR to study proper collections for succeeding tax reform packages

Finance Secretary Carlos Dominguez III has directed the Bureau of Internal Revenue (BIR) to zero-in on ways of properly collecting taxes from the succeeding tax reform packages that the Duterte administration will push in the Congress this year to further make the current system simpler, fairer and more efficient.  These next reform packages include reducing Read More