The Department of Finance (DOF) has challenged its bureau overseeing local treasury financing and revenue administration to continue developing innovative programs to strengthen the fiscal autonomy of local government units (LGUs) and further wean them off their traditional dependence on the national government (NG) for fund support.
Read MoreFinance Secretary Carlos Dominguez III said the rehabilitation of the Agus-Pulangi hydroelectric power plants in Mindanao and the construction of a liquefied natural gas (LNG) facility to replace the Malampaya natural gas reserves before these are depleted will spell the country’s stable power supply as the Duterte administration embarks on a massive infrastructure program over the medium term.
Read MoreThe Department of Finance (DOF) scored its first major legislative victory for the Duterte administration and the Filipino people in 2017 with the approval and signing into law of the first package of its Comprehensive Tax Reform Program (CTRP)—the Tax Reform for Acceleration and Inclusion Act (TRAIN)–which will provide hefty income tax cuts for majority of Filipino taxpayers while raising additional funds to help support the government’s accelerated spending on its “Build, Build, Build” and social services programs.
Read MoreFinance Secretary Carlos Dominguez III has made it clear that even non-taxpayers will benefit from the Tax Reform for Acceleration and Inclusion Act (TRAIN), the first package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), by way of more job opportunities, better infrastructure that will lower the transport and distribution costs of goods, and improved services.
Read MoreFinance Secretary Carlos Dominguez III has directed the Bureau of Internal Revenue (BIR) to make the process of paying taxes more convenient as he lauded the agency for pursuing reforms that have improved its revenue collections by almost 12 percent thus far this year.
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