Finance Secretary Carlos Dominguez III is exploring the possibility of opening a subsidiary of the Land Bank of the Philippines (LandBank) in Bahrain to cater to the banking needs of overseas Filipino workers (OFWs) living there and facilitate trade and investments between the Philippines and the island-kingdom.
Read MoreAn international nongovernment organization advocating clean air initiatives is backing the Department of Finance (DOF)-proposed reforms in excise taxes on fuel and vehicles as an effective measure to raise additional revenues while curbing air pollution by reducing the “wasteful consumption” of fossil fuels.
Read MoreA visiting high-level Chinese delegation led by Vice Premier Wang Yang has underscored the crucial role that the Philippines will play in the proposed China-led Regional Comprehensive Economic Partnership (RCEP) agreement.
Read MoreVarious institutions led by the National Tax Research Center (NTRC) have expressed their support for a Department of Finance (DOF) proposal on the mandatory connection of point-of-sale (POS) machines of businesses to the Bureau of Internal Revenue (BIR) and the use of electronic receipts as part of the tax administration reforms under the Comprehensive Tax Reform Program (CTRP) to improve collection efficiency.
Read MoreDAVAO CITY–Finance Secretary Carlos Dominguez III said over the weekend the latest round of high-level dialogues between the Philippines and China has paved the way to “a decisively progressive and productive” cooperation between the two countries as both sides formalized here a six-year development program on expanding their economic ties.
Read MoreFinance Secretary Carlos Dominguez III said the Duterte administration’s move towards greater integration with other Asian economies would lead to substantial investment inflows this year, as well as rapid tourism growth and robust exports that would benefit not only big businesses but micro and small enterprises as well.
Read MoreThe senior vice chairperson of the House committees on ways and means, on appropriations and on economic affairs has given his full backing to the Duterte administration’s resolve to make the Comprehensive Tax Reform Program (CTRP) “ambitious” enough to transform the Philippines into an upper-middle income economy by 2022 and a high income one in one generation or by 2040.
Read MoreVarious organizations led by the Trade Union Congress of the Philippines (TUCP), Financial Executives of the Philippines (FINEX) and the National Tax Research Center (NTRC) are backing the “long-overdue” reforms in personal income tax (PIT) rates proposed by the Department of Finance (DOF) along with other measures to make the tax system simpler, more equitable and more efficient, especially for low- and middle-income taxpayers.
Read MoreFinance Secretary Carlos Dominguez III has welcomed the move by the House committee on ways and means to “approve in principle” the first phase of the Duterte administration’s Comprehensive Tax Reform Package (CTRP).
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