The government is eyeing to start the $500-million Metro Manila Flood Control Management Project this January following the approval by the boards of the World Bank and the Asian Infrastructure Investment Bank (AIIB) of the co-financing for the project, the Department of Finance (DOF) said.
Read MoreThe government collects income taxes from large corporations and other private firms representing only 3.7 percent of the country’s Gross Domestic Product (GDP), or a collection rate of a low 12 percent because of 360 laws that grant businesses tax breaks and other perks, according to the Department of Finance (DOF).
Read MoreFinance Secretary Carlos Dominguez III has asserted that the Tax Reform for Acceleration and Inclusion Act (TRAIN) would be the first time the government had pushed a tax reform package not in response to a financial crisis or an external conditions imposed by other institutions, but to instead strengthen its programs meant to attack poverty and correct income inequality.
Read MoreThe Bases Conversion and Development Authority (BCDA) has remitted to the National Treasury a total of P5.220 billion, including guarantee fees and dividends, from January to December 2017, the highest amount generated by the agency so far compared with its previous full-year remittances since 2012.
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