Alongside President Duterte’s appointment of Nestor Espenilla as the incoming Bangko Sentral ng Pilipinas (BSP) governor, his selection of Antonio Abacan Jr. and Peter Favila as the new members of, and the retention of Felipe Medalla at, the Monetary Board will keep the central bank “in good hands” over the medium term, Finance Secretary Carlos Dominguez III said.
Read MoreThe National Power Corporation (NPC) has committed to remit an additional P472 million more in dividend remittances for 2016 and another P2.97 billion in arrears for the 2012-2015 period payable in five years, according to the Department of Finance (DOF).
Read MorePresident Duterte has retained former socioeconomic planning secretary Felipe Medalla and appointed two new members—Peter Favila and Dr. Antonio Abacan Jr.—to the Monetary Board (MB), the Department of Finance (DOF) said Wednesday.
Read MoreThe Department of Finance (DOF) has assured senators that subcompact sedans such as the Mitsubishi Mirage and compact multipurpose vehicles such as the Toyota Innova models will remain affordable to families wanting to buy them despite the proposed automobile excise tax increases under the tax reform bill because they are bound to get significant personal income tax rate (PIT) cuts that will more than offset the slight price markups in these types of cars.
Read MoreMore government executives have come out to support the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) now pending in the Senate, calling it a “win-win proposition” that would reform the country’s “outdated” tax system and at the same help raise funds for the government’s unmatched infrastructure, health and education, and social protection programs.
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