Finance Secretary Carlos Dominguez III said the infrastructure modernization plans of the Duterte administration are starting to click into place with the rollout of the initial list of big-ticket projects plus early progress on the multi-year tax reform package and negotiations on Official Development Assistance (ODA), both of which will mainly bankroll these ventures under the “Build, Build, Build” program.
Read MoreWhile individual taxpayers will get income tax breaks for the first P250,000 of their taxable income, the country’s 10 million poorest households will each receive almost P10,000 spread over the next three years, starting 2018 in unconditional cash transfers (UCTs) to help them cope with the minimal impact of the tax reform law on inflation, according to the Department of Finance (DOF).
Read MoreIncome tax holidays and other incentives with no time limits enjoyed mostly by large businesses is costing the government over P300 billion annually in foregone revenues, according to the Department of Finance (DOF).
Read MoreThe Philippines and the Asian Development Bank (ADB) signed Wednesday a loan agreement that aims to improve Mindanao’s links to international trade corridors and formalized the exchange of documents on sustaining reforms in the country’s capital markets, in support of President Duterte’s high—and inclusive—growth agenda, according to Finance Secretary Carlos Dominguez III.
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