News & Views (June 2021)

• 25/06/21

  DOF, DTI sign CREATE IRR ahead of the 90-day deadline

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• 24/06/21

  DOF succeeds with PHL removal from OECD list of ‘harmful tax regimes’

  The provisions in the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act eliminating the preferential tax rates given to regional operating headquarters (ROHQs) of multinational corporations (MNCs) has cleared the way to the Philippines’ removal by January 2022 from an international list of “harmful” tax regimes, the Department of Finance (DOF) has said.

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• 23/06/21

  Dominguez: 20-B yen Japan post-disaster standby loan package to help cushion COVID-19 impact on vulnerable sectors

  Finance Secretary Carlos Dominguez III has thanked the Japanese Government for approving the disbursement of 20-billion yen under the second phase of the Post-Disaster Standby Loan (PDSL-2) package extended to the Philippines to assist it in its COVID-19 response efforts, especially in providing emergency assistance to vulnerable sectors.

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• 22/06/21

  Gabunada contract aboveboard–DOF

  The Department of Finance (DOF) has maintained that the contract of consultant Nicanor Gabunada Jr. is legal and aboveboard.

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• 22/06/21

  ADB-backed LGRP project aims to increase LGU property tax haul to P113-B by 2024

  The Philippines is targeting to increase revenue of local government units (LGUs) from the real property tax (RPT) to P113.4 billion by the end of the implementation in 2024 of an Asian Development Bank (ADB)-funded project that aims to adopt digital tools in strengthening local property valuation and tax collection nationwide.

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