The Department of Finance (DOF) has proposed improvements to the Tax Incentives Management and Transparency Act (TIMTA) to enable the government to make public the list of corporations that receive tax incentives and how much such perks are costing Filipino taxpayers each year in terms of foregone revenues.
Read MoreThe Department of Finance (DOF) remains optimistic that lawmakers will consider the long-term benefits of the Duterte administration’s comprehensive tax reform program (CTRP) by giving their stamp of approval to its remaining packages ahead of the election season.
Read MoreThe Department of Finance (DOF) thanked Monday both houses of the Congress for the passage of the first package of the Duterte administration’s comprehensive tax reform program (CTRP) that has made the government’s tax effort at par with the best-managed economies in the region and brought a total of P70.8 billion back to the people’s pockets in terms of personal income tax reductions in the first seven months of 2018.
Read MoreBALI, Indonesia—The Duterte administration is going ahead with its ambitious “Build, Build, Build” infrastructure program despite the global headwinds now facing the Philippine economy, according to Finance Secretary Carlos Dominguez III.
Read MoreThe Department of Finance (DOF) has determined that for 2015 alone, the government gave away P86.3 billion-worth of income tax incentives to firms that paid out a total of P141.8 billion combined in dividends to their respective shareholders.
Read MoreAround 1.4 million jobs are expected to be created between 2021 and 2029, when the corporate income tax (CIT) will have been cut by a third to 20 percent under the second package of the comprehensive tax reform package (CTRP) now pending in the Congress.
Read MoreBALI, Indonesia—The Philippines has called on the World Bank Group (WBG) and the International Monetary Fund (IMF) to spearhead discussions on the “dangerous convergence” of several adverse economic developments that could “open the door to a global recession” and undermine the prospects for growth and equitable development of emerging economies.
Read MoreFinance Secretary Carlos Dominguez III has called for “closer coordination” between the Philippine Coast Guard (PCG) and the Bureau of Customs (BOC) in mounting a relentless drive against smuggling, which is key to winning the Duterte administration’s all-out war against this economic scourge.
Read MoreBALI, Indonesia— The Department of Finance (DOF) is exploring a plan to sponsor a Catastrophe Bond (Cat Bond) to help cover disaster-related risks in the Philippines and a separate offer of peso-denominated securities to offshore investors.
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