The Office of the Ombudsman (OMB) has ordered an officer of the Bureau of Internal Revenue (BIR) to pay a fine equivalent to six months of his salary for failing to declare he has a child and for traveling overseas without securing the proper authority.
Read MoreThe directive of Secretary Carlos Dominguez III for the Department of Finance (DOF), its attached agencies, and government financial institutions (GFIs) to vigorously pursue their respective digital transformation programs long before the pandemic helped boost revenue collections, improved the delivery of services to the public, and set the stage for modern governance in the country.
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In recent reports to the Fiscal Incentives Review Board (FIRB), investment promotion agencies (IPAs) identified the COVID-19 pandemic, high costs of doing business, and foreign equity restrictions in the Philippines as the main barriers to foreign investments in the country, among others, according to Finance Assistant Secretary and FIRB Secretariat Head Juvy Danofrata.
Read MoreThe Philippine Government’s Insurance-Linked Security (ILS), otherwise known as the Cat Bond, has resulted in a partial trigger for Typhoon Odette.
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