The Bureau of Customs (BOC) has continued to step up its campaign against rice smuggling even amid the coronavirus pandemic by conducting raids on warehouses suspected of storing illegally imported stocks of the grain in response to reports by concerned citizens.
Read MoreThe Commission on Audit (COA) has issued another set of Notices of Disallowance (NDs) on tax credits worth a combined P228.71 million granted to four textile firms that were earlier found to have secured a combined amount of P377.27 million in illegal tax perks from the One-Stop Shop Inter-Agency Tax Credit and Duty Drawback Center (OSS).
Read MoreThe Bureau of Internal Revenue (BIR) has assured senators of its full support for a measure that aims to allow banks to dispose of their bad loans and other non-performing assets (NPAs) through would-be asset management companies, which, in turn, will enable them to offer a steady flow of credit to businesses hit hard by the coronavirus-induced global economic downturn.
Read MoreRecent infrastructure developments in the West Visayan province of Iloilo underscore the commitment of President Duterte to forge ahead with his signature. project “Build, Build, Build” despite the global coronavirus pandemic, Finance Secretary Carlos Dominguez III said Wednesday.
Read MoreFinance Secretary Carlos Dominguez III has called on national government agencies to work with their counterparts in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in fast-tracking the organizational work needed to implement at the soonest the key provisions of the Bangsamoro Organic Law (BOL) despite the coronavirus-induced global crisis.
Read MoreThe Philippines and Japan signed Tuesday an agreement for a 50-billion yen standby loan that aims to quickly disburse Japanese funding support to the Philippine government’s post-disaster response efforts in the event of a national calamity or health emergency.
Read MoreFamilies in need of financial assistance to be able to continue sending their students to school amid the coronavirus-induced economic crisis may now avail of a lending program recently rolled out by the Land Bank of the Philippines (LANDBANK) benefiting those from preschool to college who plan to enroll this coming school year.
Read MoreThe combined collection of P1.636 trillion by the Bureaus of Internal Revenue (BIR) and of Customs (BOC) for the first eight months of 2020 surpassed the P1.527-trillion target set by the Development Budget Coordination Committee (DBCC) by 7.17 percent for this period, despite the economic downturn resulting from the government-imposed lockdowns since summer to contain the spread of COVID-19, the Department of Finance (DOF) has said.
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