The first two packages of the Duterte administration’s comprehensive tax reform program (CTRP) are among the best ever crafted as these measures would help redistribute wealth among Filipinos, sharpen the competitiveness of Filipino workers and corporations, and enhance the investment narrative of the Philippines, according to a top economic expert and lawmaker from the House of Representatives.
Read MoreThe Department of Finance (DOF) has thanked the House of Representatives for approving on third and final reading the bill seeking to lower the corporate income tax (CIT) and correct the convoluted incentives system for businesses, as it expressed optimism that the Senate would pass a similar measure soon enough to enable the people to reap the benefits of a fair, transparent and accountable tax system in the form of more investments and jobs.
Read MoreA Duterte Cabinet delegation led by Finance Secretary Carlos Dominguez III will embark on a three-day mission to London this week to brief British investors on the vast business opportunities in the country’s infrastructure, energy and tourism sectors and explore ways to expand economic cooperation between the Philippines and the United Kingdom.
Read MoreThe Committee on Appropriations of the House of Representatives formally endorsed for congressional approval on Thursday the proposed P18.68-billion budget of the Department of Finance (DOF) under the new cash-based system in which the implementation of projects and the procurement of goods and services are done within the given fiscal year.
Read MoreThe Department of Finance (DOF) plans to trigger the $500-million standby loan facility from the World Bank to support ongoing disaster relief and rehabilitation efforts in regions devastated by typhoon “Ompong,” once President Duterte acts on a recommendation from the economic team and the National Disaster Risk Reduction and Management Council (NDRRMC) to declare a state of calamity in the affected areas, said Secretary Carlos Dominguez III.
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