The Department of Finance (DOF) sealed concessional funding support in 2018 for big-ticket projects under the Duterte administration’s Build, Build, Build” (BBB) program, including its most ambitious and biggest single infrastructure project yet—the first phase of the Metro Manila Subway, the country’s first ever underground train that will stretch from north to south of the metropolis.
Read MoreThe Department of Finance (DOF) is planning to set up permanent campuses of the Philippine Tax Academy (PTA) in Tagaytay City in Cavite and New Clark City at the Clark Special Economic Zone in Pampanga.
Read MoreThe Food and Drug Administration (FDA) has submitted to the Department of Finance (DOF) a list of over 100 medicines with their corresponding generic names and brands for the treatment and prevention of diabetes, hypertension and high-cholesterol, the sale of which are now exempted from the payment of the value-added tax (VAT) beginning Jan. 1 as provided under the Tax Reform for Acceleration and Inclusion Act (TRAIN).
Read MoreThe Department of Finance (DOF) continued to spearhead programs on cutting red tape and improving the ease of doing business in 2018, with the government’s online trading portal that automates licensing, permits and other trade procedures going live in December and successfully linking up with other regional economies through the ASEAN Single Window (ASW) System.
Read MoreDividends remitted by government-owned or -controlled corporations (GOCCs) breached the P40-billion mark in 2018, the highest amount ever collected since the law requiring state firms to hand over 50 percent of their annual net earnings to the national government was enacted in 1994.
Read More