News & Views (May 2022)

• 31/05/22

  Tax reform laws nets P576-B for government coffers in 4 years

  The implementation of the initial packages of President Duterte’s Comprehensive Tax Reform Program (CTRP) designed to significantly lower the personal income tax (PIT), provide amnesty to delinquent taxpayers, and impose higher taxes on so-called ‘sin’ products has brought in a total of P575.8 billion in additional revenues from 2018 to 2021, according to preliminary data gathered by the Department of Finance (DOF).

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• 30/05/22

  Duterte Legacy Summit

  
  May 30, 2022
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• 30/05/22

  Dominguez cites tax reform, ‘Build’ program among lasting legacies of Duterte administration

  The unparalleled infrastructure investments under the “Build, Build, Build” program, the enactment of the law that clears the way to the long-sought return of the coco levy funds to the country’s 2.5 million coconut farmers, and the series of tax reforms complemented by the accelerated digital transformation of the government’s revenue agencies are among the lasting legacies of the Duterte administration on the economic front, Finance Secretary Carlos Dominguez III said Monday.

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• 29/05/22

  Dominguez asks Trust Fund Manager, Secretariat to study COA audit of coco levy assets

  Finance Secretary Carlos Dominguez III has directed the manager of the Coconut Farmers and Industry Trust Fund (CFITF) and the secretariat of the committee overseeing this fund to conduct a thorough study of the report done by the Commission on Audit (COA) on the status of the coconut levy-acquired assets.

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• 27/05/22

  Rice import tariffs collection up 18.6 percent to P7.35-B from January 1 to May 13

  The Bureau of Customs (BOC) has collected a total of P7.35 billion in duties from rice imports from January 1 to May 13 of 2022, representing an increase of P1.15 billion or 18.6 percent from last year’s collections of P6.2 billion for the same period.

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