The government lost P178.56 billion in potential revenues in 2016 as a result of tax incentives given out to only 3,102 firms registered with various investment promotion agencies (IPAs), according to the Department of Finance (DOF).
Read MoreThe government aims to raise P3.2 trillion in revenues in 2019, including about P181.4 billion from tax reform, which will help sustain its strong fiscal performance and aggressive spending plan into the medium term, Finance Secretary Carlos Dominguez III told lawmakers on Tuesday.
Read MoreThe government is putting in place a slew of financial technology (fintech) tools that will enable micro, small and medium enterprises (MSMEs) to tap the e-commerce market and a wide horizon of other business opportunities, in keeping with the Duterte administration’s goal of economic inclusion, according to Finance Secretary Carlos Dominguez III.
Read MoreFinance Secretary Carlos Dominguez III has voiced optimism that the Congress could pass soon enough the rice tarrification bill now that President Duterte has declared this proposal to liberalize rice imports as an urgent and priority measure to help ease inflation and bring down prices of the food staple by as much as P7 per kilo.
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