Finance Secretary Carlos Dominguez III said Friday the impressive increase in revenues, particularly on tax collections by revenue agencies for the first four months of 2018 as a result of the effective implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, enabled the government to sustain its aggressive spending policy without breaching the programmed budget deficit.
Read MoreA delegation from China representing 44,000 Chinese local-level chambers of commerce has met with Finance Secretary Carlos Dominguez III to explore cooperation and investment opportunities in the Philippines and a possible tie-up with other business groups within the Association of Southeast Asian Nations (ASEAN) to further strengthen trade relations across the region.
Read MoreA spike in rice prices because of alleged lack of supply, a weak peso, rising oil prices abroad, better tax compliance of local cigarettes, and growing consumer demand accounted for the bulk of the 4.5 percent inflation in April.
Read MoreThe Philippines is well poised to meet its target of reducing poverty incidence by 2022, with the Asian Development Bank (ADB) providing the necessary support to initiatives that aim to address inequalities across the country, such as the government’s massive infrastructure buildup and its social protection programs, according to a key official of the institution.
Read MoreAt least a half-dozen big business and civil society organizations have expressed their support for the proposed reforms in the corporate tax system and the modernization of investment incentives as vital elements to further enhance the competitiveness of the Philippine economy and level the playing field for investors and businesses.
Read MoreFinance Secretary Carlos Dominguez III has called on lawmakers to proceed with approving the Duterte administration’s proposed reforms on corporate taxation and the modernization of investment incentives as he allayed apprehensions over the impact on prices of the first tax reform package, which contributed less than a half-percentage point to last month’s inflation rate.
Read MoreDAVAO CITY—The Department of Finance (DOF) is pushing a trio of initiatives to enable the rural banking system to meet the challenge of reducing the number of unbanked Filipinos in the country, given that this sector is at the frontline of the Duterte administration’s efforts to attain financial inclusion.
Read MoreTen former secretaries and undersecretaries of the Department of Finance (DOF) have thrown their full support behind the Duterte administration’s second proposed tax reform package that aims to lower the corporate income tax (CIT) and modernize investment incentives as effective tools in ensuring a “fair, competitive and growing” business sector in one of Asia’s fastest expanding economies.
Read MoreThe moderate rise in inflation is only “temporary” and remains manageable under a robust economy even with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which is necessary to support funding for the government’s massive spending on the “Build, Build, Build” program and on social services, according to the Department of Finance (DOF).
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