In compliance with the directive of Finance Secretary Carlos Dominguez III, Commissioner Isidro Lapeña of the Bureau of Customs (BOC) has issued a memorandum to all district directors of the agency to coordinate with the regional offices of the Bureau of Internal Revenue (BIR) in forming Joint Anti-Smuggling Units in their respective areas.
Read MoreFinance Secretary Carlos Dominguez III said the government is now one big step closer to reforming the country’s tax system for the first time in over two decades–and providing a steady revenue stream to its ambitious infrastructure buildup–with the Senate’s approval of its version of the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN).
Read MoreThe implementing rules and regulations (IRR) of the Customs Modernization and Tariff Act (CMTA) will be contained in about 42 Customs Administrative Orders (CAOs) that the government plans to complete by 2018, according to the Department of Finance (DOF).
Read MoreFinance Secretary Carlos Dominguez III has cited the reforms being undertaken by the Bureau of the Treasury (BTr) to develop the domestic capital market, among them, the launching of its first government securities (GS) repurchase (repo) transaction, which is among its initiatives to enhance funding and trading liquidity in the local bond market.
Read MoreThe disposition of state properties for privatization along with cash dividends and other forms of revenue raised from still unsold government assets generated a total of P554.442 million in the first nine months of 2017, according to a report of the Privatization and Management Office (PMO) to the Department of Finance (DOF).
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