Finance Secretary Carlos Dominguez III has sought the support of local manufacturers behind the Duterte administration’s Comprehensive Tax Reform Program (CTRP), which, he said, would be a potent tool to encourage enterprise and boost domestic market demand, attract investors and improve the purchasing power of wage earners, and build an inclusive economy.
Read MoreTwo more health advocacy groups have joined the snowballing clamor to adjust the excise taxes on fuel under the proposed Tax Reform for Acceleration and Inclusion (TRAIN) Act to squarely address the worsening air pollution in cities and help mitigate the devastating impact of global warming on the environment.
Read MoreFinance Secretary Carlos Dominguez III has praised the Land Bank of the Philippines’ outstanding employees who received this year’s Gawad Punla awards for their loyalty and dedication, which, he said, have made this financial institution one of the country’s strongest banks and that has thus far been immune from scandals and process failures.
Read MoreSINGAPORE—Finance Secretary Carlos Dominguez III said here the Duterte administration expects to sustain the economy’s growth rate at seven percent over the medium term through an ambitious “Build, Build, Build” program that will generate “an impressive multiplier effect” in the form of more jobs and investments that will finally close the country’s infrastructure backlog.
Read MoreThe Philippines can tap about $3.8 billion in loans and another $21.8 million in the form of non-lending programs from the Asian Development Bank (ADB) to help fund its accelerated spending programs on infrastructure and social services on the Duterte watch, according to the Department of Finance (DOF).
Read MoreFinance Secretary Carlos Dominguez IIII welcomed Friday the decision of the US government’s Millennium Challenge Corp. (MCC) to uphold the eligibility of the Philippines to secure a fresh grant from the MCC.
Read MoreCamSur Representative Luis Raymond “LRay” Villafuerte has appealed to the government’s anti-trust regulator to speed up its review and approval of the acquisition by Japan Tobacco International (JTI) of Mighty Corporation to enable the national government to get the rest of the P26.5 billion that it expects as full settlement of the latter’s tax liabilities, inclusive of the value-added tax charges.
Read MoreFinance Secretary Carlos Dominguez III said the settlement of the tax obligations of one cigarette manufacturer that will amount to about P30 billion will significantly boost the national coffers at a time when the government is meeting the unexpected costs of several calamities.
Read MoreTwo of the country’s national organizations of local government executives have separately expressed their full support for the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) on the belief that it will make the tax system more “equitable, progressive and efficient” while raising more funds for infrastructure development and social services outside Metro Manila.
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