Home Tags Department of Finance

Tag: Department of Finance

Legal issues hinder privatization of state mining assets — DoF

THE Department of Finance (DoF) has created a task group to address the lawsuits and other legal issues that are slowing the efforts to privatize state mining assets.

Japanese firm JTI to buy more tobacco leaves from local farmers...

Japan Tobacco International (Philippines) Inc. (JTI) is looking to increase its tobacco purchases from local farmers to more than 4.6 million kilograms (kg) next year, according to the Department of Finance (DoF).

Rules on duty exemptions for medical supplies, donated devices issued

THE Department of Finance (DoF) has approved the rules governing tax and duty-free imports of medical supplies and donated devices for use in remote learning.

Economic reforms touted as key to recovery, attracting investment — DoF

THE government’s economic reform program is being repositioned as a key element of the recovery and for attracting investment after the coronavirus disease 2019 (COVID-19) pandemic, the Department of Finance (DoF) said.

Gaming privatization still on the table; seen as revenue-generating measure

THE Department of Finance (DoF) is still considering privatizing government corporations involved in gaming to help raise more revenue, Finance Secretary Carlos G. Dominguez III said Wednesday, after a legislator proposed the sale of government assets as an alternative to raising taxes.

Finance dep’t sticks with policy of keeping budget deficit at bay

MAINTAINING “manageable” fiscal deficits and the balance of payments while keeping interest rates conducive to investment will help safeguard the economic recovery, the Department of Finance (DoF) said in an economic bulletin.

Philippine external debt ratio lowest among ASEAN peers

THE Philippines’ external debt relative to gross national income (GNI) is the lowest among its peer economies in the Association of Southeast Asian Nations, known as the ASEAN-5, according to the Department of Finance (DoF).

PHL foreign debt load half of Asian financial crisis levels

THE Department of Finance (DoF) said the Philippines is well-positioned with low levels of foreign debt load during the pandemic, which compares favorably with its standing during the Asian financial crisis, during which the debt load was more than double current levels.

Finance dep’t says small businesses can also be aided by keeping...

THE Department of Finance (DoF) said the many demands on the government’s resources during the pandemic are forcing it to weigh the need to maintain a solid sovereign credit rating while also aiding hard-pressed small businesses.

Gov’t threatens to take action vs cryptocurrency schemes claiming support from...

THE Department of Finance (DoF) said it will take “legal and regulatory action” against digital-currency investment schemes claiming backing from government officials, including the Secretary of Finance himself.

Customs OKs 189 shipments of COVID-19 medical supplies

THE Bureau of Customs (BOC) has processed 189 shipments of medical supplies and other emergency items needed for responses against coronavirus disease 2019 (COVID-19) as of Thursday.

Peso deemed among most resilient currencies in Asia — DoF

THE peso was among the more resilient currencies in Asia amid rising uncertainty and volatility in global financial markets, the Department of Finance (DoF) said.

Tax take from ‘sin’ products seen to reach P332B this year

THE Department of Finance (DoF) projects tax collection from so-called “sin” products to jump over 20% to P332.3 billion this year, following another round of excise tax hikes on alcohol and tobacco products.

Philippines joins ASEAN Single Window

THE PHILIPPINES has officially joined the ASEAN Single Window (ASW) and went live last Dec. 30 via its three pilot ports, the Department of Finance (DoF) said.

General government debt share in GDP up at end-June

THE COUNTRY’S general government (GG) debt as a share of the economy rose in the first half, the Department of Finance (DoF) reported Friday.

DoF formally proposes to liberalize sugar imports

THE finance department has formally proposed import liberalization for the sugar industry modeled on the opening up of the rice market, signaling a showdown for another key commodity as economic managers sought to make prices more competitive.

Law permitting alternate forms of loan collateral hits snag

A LAW allowing small businesses to offer new types of assets as collateral will need to wait about six months for the establishment of an electronic registry, a Department of Finance official said.

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.

State-run firms’ dividends reach P34B at end-September

DIVIDENDS from state-run firms reached P34.15 billion as of September and appear headed for a fresh banner year, the Department of Finance (DoF) said on Friday.

BoC, BIR officials fired over SALNs

THE DEPARTMENT of Finance (DoF) has dismissed five Customs officials in the first eight months of the year, over “false declarations” in their Statements of Assets, Liabilities and Networth (SALN), and penalized more from other revenue agencies over administrative violations.

San Miguel Holdings parent SMC’s backing needed for Bulacan airport

THE Department of Finance (DoF) questioned the financial capacity of San Miguel Holdings Corp., which hopes to build a proposed P735-billion airport in Bulacan as an alternative gateway to the Ninoy Aquino International Airport (NAIA).

Improving lives through infrastructure

President Rodrigo R. Duterte’s centerpiece project, the “Build, Build, Build” program aims to usher in the “Golden Age of Infrastructure,” and is known as...

Swiss firms invited to invest in PHL ahead of negative list...

THE DEPARTMENT of Finance (DoF) has invited Swiss businesses to set up shop in the Philippines, citing its attractive and growing consumer market, as...

Gov’t to hand out ‘unconditional’ cash transfers in Q1

By Melissa Luz T. Lopez, Senior Reporter THE GOVERNMENT will start handing out cash transfers to some 7.4 million households by March, with the P200...

DoF wants additional tax bills certified as urgent

By Melissa Luz T. Lopez, Senior Reporter THE Department of Finance (DoF) is eyeing to certify as urgent the second set of tax-related measures in...

DoF sees inflation peaking at 3.5% in Oct. led by utilities

THE DEPARTMENT of Finance (DoF) expects inflation to peak in October amid higher utility rates and fuel prices, before easing towards year’s end. In an...

DoF expects excise stamp scheme for alcohol in place by mid-2018

THE DEPARTMENT of Finance (DoF) aims to finalize its planned excise stamp scheme for alcohol products by January, and expects the system to be...

Local government unit treasurers to undergo professional exams, DoF says

THE government said it will move towards raising the standard of local government treasurers by making them pass certification exams. In a statement, the Department...

DoF hopeful tax reform signed into law by Dec.

THE Department of Finance (DoF) wants the tax reform bill signed by President Rodrigo R. Duterte by mid-December, with roughly two months left for...