The Department of Finance (DOF) has described the Fiscal Incentives Review Board (FIRB) as a necessary good governance measure to advance the public interest in the granting of tax incentives to private corporations.
Read MoreFinance Secretary Carlos Dominguez III has commended the Bureau of Customs (BOC) for “impressively” continuing to improve the delivery of services to the people through the streamlining of operations and modernization of its infrastructure and systems that have, in turn, enhanced the professionalism of its ranks and beefed up its capabilities to collect revenues, facilitate international trade, and foil smuggling and other customs fraud.
Read MoreThe Government Service insurance System (GSIS) has so far released some P76.5 billion to assist a total of 189,860 government employees in settling their outstanding loan balances from private money lenders engaged in the “five-six” or usury scheme, in compliance with President Duterte’s directive to put an end to this predatory lending practice that has plunged state workers deeper in debt.
Read MoreThe Bureau of the Treasury (BTr) expects the debt-to-GDP (gross domestic product) ratio to have fallen faster to 41.59 percent in 2019, better than its target of 41.72 percent, as it managed to raise around P995 billion during the year through a proactive borrowing strategy that reduced the government’s exposure to foreign exchange risks.
Read MoreFinance Secretary Carlos Dominguez III said Tuesday the Philippine economy would be able to sustain its momentum of growth this year despite the challenges posed by the global spread of the novel coronavirus (nCoV), the eruption of Taal Volcano and the outbreak of the African Swine Fever (ASF) in the country.
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