Finance Secretary Carlos Dominguez III supports in principle a plan by Albay Rep. Joey Salceda to file a bill seeking to impose a 5 percent franchise tax on revenues generated by Philippine Offshore Gaming Operators (POGOs) and their service providers.
Read MoreWASHINGTON DC—The Philippines has called on the World Bank and the International Monetary Fund (IMF) to adopt bold, out-of-the box solutions in support of their efforts toward a “new multilateralism” to effectively assist emerging economies in mitigating, if not reversing, the impact of a changing global economic landscape fraught with trade tensions, protectionism and other factors that imperil global growth.
Read MoreWASHINGTON DC—The Duterte administration is stepping up its already accelerated spending on President Duterte’s signature “Build, Build’ Build” program and on human capital development as the linchpin of a strategy to keep the Philippines’ high-growth momentum in the face of a global economic slowdown, Finance Secretary Carlos Dominguez III said.
Read MoreAfter unleashing a “barrage of reforms” in his first three years in office, President Duterte will continue to pursue game-changing initiatives in the final half of his administration to sustain high and inclusive growth and finally unlock Mindanao’s vast economic potentials, the Department of Finance (DOF) has said.
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