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Filipino linked to money laundering indicted in Pasay City

THE Pasay City Prosecutor is indicting a Filipino who was recently linked to the laundering of millions of pesos in foreign currency. He is being charged for not declaring the amount of money he brought into the country last September.

DILG told to crack down on LGUs that allow building in...

THE Finance department has asked the Department of the Interior and Local Government (DILG) to crack down on towns and provinces that fail to keep residents from building homes in mining and quarrying areas.

Treasury to issue panda and samurai bonds next year

The Bureau of the Treasury said the government will issue panda and samurai bonds next year as part of the financing program for next...

Finance dep’t seeks support from economists for pushing second tax reform...

THE DEPARTMENT of Finance (DoF) is seeking the support of local and international economists from the academe, private sector, government and international organizations, for...

Gov’t pitching more projects for AIIB funding

THE PHILIPPINES is seeking Asian Infrastructure Investment Bank (AIIB) funding for more projects, the Department of Finance (DoF) said on Tuesday.

Finance dep’t eyes April 2019 for tax amnesty

THE GOVERNMENT is looking at offering its planned one-time tax amnesty program in April next year, coinciding with the deadline for filing income tax returns, the Department of Finance (DoF) said.

PSE’s terms for PDS sale keep changing, Finance dep’t complains

THE GOVERNMENT said the Philippine Stock Exchange (PSE) is imposing constantly changing conditions for signing the agreement to sell its 20% stake in the Philippine Dealing System (PDS), a fixed-income exchange, thereby slowing the deal’s completion.

DoF seeks to improve carriers’ tax

THE GOVERNMENT is reviewing the common carriers tax imposed on international air and sea cargo vessels in hopes of ensuring a level playing field and improving the country’s competitiveness in the sector, the Department of Finance (DoF) said in a statement on Monday.

Tougher rules in store for 3rd major telco

GROUPS looking to vie for the distinction of becoming the Philippines’ third major telecommunications service provider likely face tougher financial and technical requirements, according to departments overseeing the process.

Finance dep’t touts sustained fiscal performance as of May

THE GOVERNMENT’S “impressive” fiscal performance was sustained in May, the Finance chief said, adding that this showed successful implementation of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.

Korean ODA doubles to $1 billion

THE SOUTH KOREAN government has doubled to $1 billion its official development assistance (ODA) to the Philippines for government projects, including the construction of new Cebu International Container Port, Dumaguete Airport, and project preparation facility of the National Irrigation Administration (NIA), the Department of Finance (DoF) said on Tuesday, June 5.

Government eyes September or October for first samurai bond issue

THE Duterte government eyes to issue its first yen-denominated securities by September or October, the Department of Finance (DoF) said. Finance Secretary Carlos G. Dominguez...

Swedish firms want in on government’s infrastructure program

SWEDISH FIRMS met with the Department of Finance (DoF) offering their engineering solutions for the Duterte administration's infrastructure build-up. Swedish Ambassador to the Philippines Harald...

Dominguez urges Swiss investors to invest in the Philippines

THE DEPARTMENT of Finance (DoF) has invited Swiss businessmen to set up shop in the Philippines as the Duterte administration pursues more reforms to...

DoF expects remaining tax reform packages approved this year

THE DEPARTMENT of Finance (DoF) is confident that Congress will stick to the planned 2018 approval of all of its succeeding tax reform proposals,...

Economy on track to grow by at least 7% this year

By Melissa Luz T. Lopez, Senior Reporter DAVAO CITY — The Philippines is on track to achieve at least seven percent growth this year, with...

Finance chief seeks ‘total clarity’ in Bangsamoro fiscal policy

Department of Finance (DoF) Secretary Carlos G. Dominguez III said that the legislators should be clear in crafting the provisions of the Bangsamoro Basic...

DoF cautious on firms’ income tax cut

By Elijah Joseph C. Tubayan Reporter THE DEPARTMENT of Finance (DoF) will ensure that state coffers will not suffer unduly as it seeks to give the...

DoF chief flags ‘potential nightmare’ in federalism

By Elijah Joseph C. Tubayan Reporter THE SHIFT to a federal form of government could be a “nightmare” for the Philippines, particularly in the fiscal policy...

Tax reform to support SSS contribution hike

THE COUNTRY’S Budget chief said it is high time to raise the contribution rates of Social Security System (SSS) members as they could easily...

Banks eye global bond offer

INTERNATIONAL BANKS have expressed interest in participating in the Philippines’ planned global bond issuance early next year, the Finance chief said, as the government...

BIR to settle GOCC disputes

By Elijah Joseph C. Tubayan Reporter THE DEPARTMENT of Finance (DoF) ordered the Bureau of Internal Revenue (BIR) to settle out of court its tax disputes...

PPP to continue to take back seat to state funding —...

NOTWITHSTANDING calls by Philippine and foreign business groups for the government to put public-private partnership (PPP) arrangements back at the forefront of its infrastructure...

Taxmen hone focus on select goods amid anti-smuggling drive

THE GOVERNMENT has ordered taxmen “to train their sights” on certain commodities as it steps up its crackdown on big-time smugglers, the Department of...

Samurai bond issue targeted for 2018 — DoF

THE GOVERNMENT could issue yen-denominated debt, or “samurai bonds,” next year, Finance Secretary Carlos G. Dominguez III said. “I suppose the direction I am thinking,...

Economic team moves to stir US interest

ECONOMIC MANAGERS of President Rodrigo R. Duterte have made an investment pitch in New York, telling American investors to be part of the Philippines’...

Economic execs seek to assure US investors

STATE economic managers head for the United States this week in a bid to convince companies there that the Philippines is good for business,...

Dominguez: PHL readying projects for MCC consideration

THE PHILIPPINES is preparing a pipeline of projects ahead of a possible Millennium Challenge Corporation (MCC) aid package even as negotiations have yet to...

Approval process for infrastructure streamlined at NEDA Board level

ECONOMIC MANAGERS will seek to identify and eliminate redundant approval processes for government projects, in order to fast-track their implementation. “Our goal here is to...

Economic team to visit Tokyo ahead of November signings for Japan-ODA...

THE GOVERNMENT’S economic and infrastructure team will be visiting Tokyo this month to review the progress of infrastructure projects to be funded by the...

Cybersecurity setup in the works — Finance dep’t

By Janine Marie D. Soliman Reporter THE DEPARTMENT of Finance (DoF) is in the works of putting up a cybersecurity defense structure across all its units...

Dominguez seeks to deter unqualified bidders

THE government’s economic managers are considering adopting nationwide a rule for government contractors requiring them to complete half of a project before first billing. Finance...

DoF’s Dominguez calls P25-billion Mighty settlement ‘a good deal’

FINANCE Secretary Carlos G. Dominguez III said cigarette manufacturer Mighty Corp.’s P25-billion settlement offer to cover its tax liabilities “seems like a good deal,”...

The Duterte- Dominguez Disconnect: Is another golden tide headed for the...

By Raul V. Fabella UPSE and NAST The eight-point program spelled out by Finance Secretary Carlos “Sonny” G. Dominguez III before the election was duly...