Finance Secretary Ralph Recto has this warning. Reducing the value-added tax (VAT) rate to 10 percent from 12 percent would have this consequence, according to Finance Secretary Ralph Recto. Lowering the VAT rate from 12% to 10% may sound attractive, but the Department of Finance (DOF) cautions that it could greatly affect government revenues, fiscal stability, … Read more
Chiz Escudero Highlights PhilHealth’s Idle Funds as Opportunity for Rate Cuts CHIZ ESCUDERO – Senator Chiz Escudero said PhiloHealth can lower contribution rates with idle funds. Senate President Francis Escudero has highlighted the substantial idle funds within PhilHealth, arguing that this financial surplus allows the agency to reduce its contribution rates. In a statement made … Read more
DOF Speaks on Cash Aid for Poor Filipinos amid High Inflation Rate CASH AID FOR POOR FILIPINOS – The Department of Finance revealed that there might be another “ayuda” for the poor Filipinos amid the high inflation. The Filipinos are currently faced with the problem of high prices of goods and commodities in the country. … Read more
DOF’s Proposal to Impose Additional Tax to Pay PH Debt Opposed by Filipino Workers The Filipino workers have expressed their opposition to DOF’s proposal to impose an additional tax to pay the Philippines’ debt. A lot of Pinoy laborers in the country have expressed their opposition to the Department of Finance’s proposal to impose an … Read more
Philippines Secures ₱14 Billion Loan From France FRANCE – The Philippines has secured a ₱14 billion loan from France to support the enhancement of disaster risk response of local government units. The Philippines is one of the world’s most at risk from the effects of the climate crisis. The country is hit by an average … Read more
GOT Actor Kristofer Hivju positive of COVID-19. KRISTOFER HIVJU – ‘Game of Thrones’ actor Kristofer Hivju announces that he tested positive for the Coronavirus Disease 2019 (COVID-19). “Sorry to say that I, today, have tested positive for COVID19, Corona virus. My familiy and I are self-isolating at home for as long as it takes. We … Read more
DOF says government economic team rolls out Php 27.1-billion package for people affected of the virus. CORONAVIRUS 2019 – Department of Finance (DOF) press release about the Php 27.1-billion package to combat the pandemic coronavirus disease 2019. The Coronavirus Disease 2019 (COVID-19) is an unseen enemy now of many countries from different parts of the … Read more
Bureau Of Customs Seeks DICT Assistance After Hack On Website BUREAU OF CUSTOMS – The Bureau of Customs has sought the assistance of the Department of Information and Communications Technology after their website was hacked. The Philippine government agency, Bureau of Customs is managed under the Department of Finance. The duties of BOC include the … Read more
₱98.7 Billion Loan Deals Signed By Philippines And Japan For Railway And Flood Control Projects PHILIPPINES – The Philippines and Japan signed two loan deals that aims to improve flood control in Manila and build a three-way commuter rail system. According to PhilStar, the Department of Finance (DOF) Secretary Carlos Dominguez III, along with Japan … Read more
Excise Tax Collections From Sugary Drink Below Target, Bureau Of Internal Revenue (BIR) Making Investigation On Makers SUGARY DRINK – Sugary drink makers are under investigation by the Bueau of Internal Revenue (BIR) to see if the manufacturers are paying the correct taxes. The Department of Finance (DOF) recently issued an order to the BIR, … Read more