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We, the government’s Economic Team, understand that many are feeling the hit of a faster inflation rate, particularly those who toil so hard just to keep up. We assure everyone that we are working swiftly to temper the rise in the prices of goods and offer relief to those most affected. We remain committed to Read More

P4

The Department of Finance (DOF) has assured the public that the purchase and importation of books will remain tax exempt under the second tax reform package of the Duterte administration. Finance Undersecretary Karl Kendrick Chua said at a recent news forum that the value-added tax (VAT) exemption of books will remain as provided under the Read More

P4

The first two packages of the Duterte administration’s comprehensive tax reform program (CTRP) are among the best ever crafted as these measures would help redistribute wealth among Filipinos, sharpen the competitiveness of Filipino workers and corporations, and enhance the investment narrative of the Philippines, according to a top economic expert and lawmaker from the House Read More

P4

The Department of Finance (DOF) has thanked the House of Representatives for approving on third and final reading the bill seeking to lower the corporate income tax (CIT) and correct the convoluted incentives system for businesses, as it expressed optimism that the Senate would pass a similar measure soon enough to enable the people to Read More

P4

Finance Secretary Carlos Dominguez III has assured economists and members of the regional financial community that the Philippines remains “on course” towards the government’s medium-term goals of reducing poverty and achieving inclusive growth, driven by stronger investor confidence arising from the rollout of “Build, Build, Build” infrastructure projects and the initial gains from the Comprehensive Read More

P4

Members of the Duterte administration’s economic and “Build, Build, Build” teams led by Finance Secretary Carlos Dominguez III are set to update economists and members of the regional financial community this week on the Philippines’ economic performance, developments in the fiscal sector and the status of the infrastructure program This Philippine Economic Briefing (PEB), to Read More

P4

The Social Security System (SSS) and other government agencies have expressed their support for the proposed reforms in the corporate tax system, given that such proposals, which include lowering the corporate income tax (CIT) and modernizing investment incentives, would attract investments and create more jobs in the private sector especially among micro, small and medium Read More

P4

The Economic Development Cluster (EDC) of the Duterte Cabinet expects “moderate” inflation in the months ahead following the implementation of a slew of measures to help tame the rise in commodity prices, which include streamlining import procedures for rice, fish and sugar to boost their supply in the domestic market. Chaired by Finance Secretary Carlos Read More

P4

The Philippine Statistics Authority (PSA) reported that the headline inflation rate accelerated to 6.4 percent year-on-year (YOY) in August 2018, faster than the previous month’s 5.7 percent and the 2.6 percent of the same period last year. This brings the year-to-date inflation rate to 4.8 percent, beyond the upper-band of the government’s inflation target of Read More

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Ben Kritz hits government for being “completely adrift when it comes to economic policy and management” and his reason is that “the estimated second quarter GDP growth xxx figure is almost 10 percent higher than the actual GDP result. Kritz should be informed that government’s targets are annual and quarterly actuals may depart from this level. Read More