De Minimis Rule Review — What Online Shoppers Should Know About the ₱10,000 Import Tax Exemption DE MINIMIS RULE PHILIPPINES – Filipinos who buy cheap items from overseas sellers on Shopee, Lazada and other online platforms may one day have to pay taxes on those parcels, as the Department of Finance (DOF) is studying the … 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
Rice farmers are opposing the proposed reduced tariff on rice imports The Department of Finance (DOF) proposed to implement a reduced tariff on rice imports to address the rice “shortage” and the price hike that affects a lot of Filipinos. Currently, the country is implementing the 35 percent rice import tariff rates, both ASEAN and … Read more
Ogie Diaz Laments Ayuda Given by the Government Due to Alleged Corruption in Barangays Talent manager and showbiz vlogger Ogie Diaz appealed to the government to give jobs to Filipino people instead of “ayuda”. Because of reported corruption in barangays, the talent manager recently proposed giving jobs instead of financial aid. This comes after the … 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
2023 BUDGET – The Senate Plenary has decided on the proposed funds for the Department of Finance (DOF) and the National Economic and Development Authority (NEDA). Senator Sonny Angara sponsored the proposed 2023 budget of the national government and the public agencies to the Senate Plenary. The Senate targets to finish the deliberations about the … Read more
Bayani Agbayani was called “Finance Undersecretary“? Congressman Mike Defensor mistakenly called comedian Bayani Agbayani as the Department of Finance (DOF) Undersecretary. The name of Bayani became one of the top trending topics on Twitter on Monday due to an unintentional funny reason. During the hearing of the House of Representatives on President Rodrigo Duterte’s request … Read more
Several government agencies were closed down due to COVID-19 Government agencies in the Philippines ordered lockdown for total disinfection amid the COVID-19 outbreak. As the number of confirmed cases in the country increased, local government units already declared class and work suspensions. Some private sectors also took precautionary measures in order to ensure the safety … Read more
Impact of PCSO Closure to Universal Healthcare Revealed by Finance Department The Department of Finance (DOF) revealed the impact of PCSO closure on the universal healthcare program. Last week, the closure of all gaming operations linked to the Philippine Charity Sweepstakes Office (PCSO) has been one of the most controversial topics online. President Rodrigo Duterte ordered … Read more
President Duterte’s Economic Team Spurs Second Package From TRAIN Law TRAIN LAW – The president’s economic team will push the 2nd TRAIN law package, which is basically cutting corporate taxes and pushing for a simpler fiscal incentive. Based on the report, the TRAIN Law, or RA 10963, aims to earn revenues to fund the country’s infrastructure … Read more