Department of Finance

Regional headquarters staff lose special tax rate...

18 January, 2018 at 08:00

The Department of Finance (DOF) said employees of regional operating headquarters (ROHQ) would no longer enjoy special tax rates on their gross income under the new tax reform law.

Senate eyes Charter change that amends economic...

16 January, 2018 at 17:00

Long-envisioned but always sidelined amendments to the economic provisions of the 1987 Constitution—seen as too restrictive as to hinder the country’s global competitiveness and ability to invite investments…

Finance chief to get power over granting...

16 January, 2018 at 10:52

The secretary of finance, who is in charge of the country’s fiscal health, will be granted the power to take away tax and other incentives from investors if deemed unnecessary once the Duterte administration’s second tax reform is passed into law.

Peso among ‘most stable’ in Asia despite...

10 January, 2018 at 10:32

The Department of Finance (DoF) said the peso remained among the “most stable” currencies in Asia and “finished strongly” in 2017 despite a 0.5% depreciation against the dollar.

Modern city to rise from Marawi rubble

4 January, 2018 at 08:00

After a five-month battle between government forces and Islamic State-inspired terrorists that reduced Marawi City to rubble…

Mining tax change has just begun —...

3 January, 2018 at 14:00

The doubling of a mining levy under the first of up to five planned tax reform packages enacted last week will not preclude further changes to the sector’s fiscal regime, an official of the Department of Finance (DoF) has said.

Dominguez seeking greater MSME inclusion measures

22 December, 2017 at 08:00

The Department of Finance (DOF) on Tuesday committed to support the swift passage of legislative measures that ensure greater financial access for micro, small and medium enterprises…

Government launches online database for business

6 December, 2017 at 16:00

The government formally launched yesterday an electronic database intended to help streamline the registration and renewal process for business permits.

[EDITORIAL] Better climate for investment

18 October, 2017 at 15:30

There’s an interesting debate on foreign investments going on between the Duterte administration and its critics. While an opposition senator, Franklin Drilon, raised an alarm over the 90-percent decline in new foreign investments as of last June…

AmCham backs tax reform plan

4 October, 2017 at 14:00

The American Chamber of Commerce of the Philippines (AmCham) has expressed its support for the first package of the Duterte administration’s comprehensive tax reform program, the Department of Finance (DOF) said.

Philippines, Japan agree to speed up infrastructure...

29 September, 2017 at 10:37

Manila and Tokyo have agreed to further speed up the approval and implementation of the Philippine government’s infrastructure projects proposed for Japan’s funding assistance, the Department of Finance (DOF) said yesterday.

Online trade platform ready by Dec.

12 September, 2017 at 14:57

The government’s online platform which seeks to computerize and speed up the processes involved in the issuance of permits for imports and exports is expected to be launched and to be fully operational by December, the Department of Finance said.

DTI to ask for prospective implementation of...

15 August, 2017 at 14:14

The Department of Trade and Industry (DTI) may ask the Department of Finance (DOF) to reconsider the planned removal of the 15-percent preferential income tax rate for individuals currently employed in the regional operating headquarters…

Revenue loss due to tax perks down...

28 July, 2017 at 13:00

Activities related to the country’s top dollar earners—business process outsourcing and electronics—cornered the bulk of tax incentives given away by the government in 2015 totaling P104.4 billion, latest Department of Finance data showed.

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