The government’s experience in 2009 of a massive erosion in revenues as a result of the Congress’ failure the year before to approve a revenue-neutral package in its entirety underscores the necessity of passing the proposed Comprehensive Tax Reform Program (CTRP) of the Duterte administration in full or as one package.
Read MoreFinance Secretary Carlos Dominguez III is exploring the possibility of opening a subsidiary of the Land Bank of the Philippines (LandBank) in Bahrain to cater to the banking needs of overseas Filipino workers (OFWs) living there and facilitate trade and investments between the Philippines and the island-kingdom.
Read MoreAn international nongovernment organization advocating clean air initiatives is backing the Department of Finance (DOF)-proposed reforms in excise taxes on fuel and vehicles as an effective measure to raise additional revenues while curbing air pollution by reducing the “wasteful consumption” of fossil fuels.
Read MoreA visiting high-level Chinese delegation led by Vice Premier Wang Yang has underscored the crucial role that the Philippines will play in the proposed China-led Regional Comprehensive Economic Partnership (RCEP) agreement.
Read MoreVarious institutions led by the National Tax Research Center (NTRC) have expressed their support for a Department of Finance (DOF) proposal on the mandatory connection of point-of-sale (POS) machines of businesses to the Bureau of Internal Revenue (BIR) and the use of electronic receipts as part of the tax administration reforms under the Comprehensive Tax Reform Program (CTRP) to improve collection efficiency.
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