The Philippines has successfully placed on the international market its parametric insurance policy with a maximum cover of P20.49 billion that can provide quick liquidity to national and local governments. The program includes coverage for national and local government assets against natural calamities including public elementary and high schools in 25 disaster-prone provinces in the country’s eastern seaboard, the Bureau of the Treasury (BTr) said.
Read MoreFinance Secretary Carlos Dominguez III and Asian Development Bank (ADB) president Takehiko Nakao exchanged documents Monday (Dec. 10) on two loans that aim to help the Philippine government sustain its efforts on expanding financial services to small entrepreneurs and increasing private sector participation in the government’s infrastructure modernization program.
Read MoreFinance Secretary Carlos Dominguez III has directed the Bureaus of Internal Revenue (BIR) and of Customs (BOC) to work with their counterparts in China to stop the illicit entry of cigarette-making machines that are being used to manufacture counterfeit tobacco products in the country.
Read MoreMore than 1,000 entrepreneurs, mostly representing small and medium enterprises (SMEs), were consulted by the government on how the government can sustain the economy’s high growth and make it more inclusive, during the series of regional “Sulong Pilipinas” workshops held last month, the Department of Finance (DOF) said.
Read MoreThe Duterte administration’s tax reform package that aims to lower the corporate income tax (CIT) and overhaul the country’s “convoluted” fiscal incentives system is projected to generate some 1.4 million jobs, mostly in small and medium enterprises (SMEs), over the next decade and create a business environment conducive to inclusive growth, according to Finance Secretary Carlos Dominguez III.
Read MoreFinance Secretary Carlos Dominguez III said the Bureau of the Treasury (BTr) is studying the “exact timing” of the issuance of the Marawi bonds in relation to the schedule of the delivery of the pledges raised by the government from the international community last week in Davao City.
Read MoreThe Department of Finance (DOF) will “try its best” until the last minute to convince the Congress to impose new “sin” tax rates on tobacco products that will make cigarettes pricey enough to further discourage smoking, especially among teenagers.
Read MoreDAVAO CITY—A consolidation of the actionable recommendations submitted by the private sector in the four regional “Sulong Pilipinas” workshops conducted in Luzon, Visayas and Mindanao in November yielded proposals ranging from improving agricultural output and simplifying loan requirements for small and medium enterprises (SMEs) to enhancing peace and order measures, and stricter profiling of the government’s cash transfer or social protection beneficiaries.
Read MoreDAVAO CITY—Finance Secretary Carlos Dominguez III has said that spinning off the annual “Sulong Pilipinas” consultative conference into regional forums across the country underscores the importance given by the Duterte administration to the business sector in its pursuit of high and inclusive growth.
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