DOF
ARTICLE FINDER

DOF runs after officials in P11-billion tax credit scam

Jul 22, 2018 - 4:56 PM

Finance Secretary Carlos Dominguez III forms a high-level task force to recover the P11 billion worth of undue tax credits

Duterte names Isko Moreno as DSWD undersecretary

May 09, 2018 - 3:08 PM

(UPDATED) President Rodrigo Duterte also appoints Tony Lambino as assistant secretary of the Department of Finance

NEW APPOINTMENT. Isko Moreno is named undersecretary of the Department of Social Welfare and Development. Rappler screenshot

Agriculture department asks P123.7-billion budget for 2019

May 04, 2018 - 1:41 PM

The proposed amount is more than twice the average allocation, and could be the agency's largest budget if approved

Gov't to lease retail, dining spaces at Metro Manila Subway stations

Mar 25, 2018 - 9:20 PM

Philippine Finance Secretary Carlos Dominguez III says the revenues would help pay off Japan's loan for the construction of the subway

Dominguez photo by Malacanang

PH, Japan sign P51-B loan deal for phase 1 of Metro Manila Subway

Mar 16, 2018 - 5:01 PM

Under Phase 1, 30 kilometers of underground railway with 14 stations will be built from Mindanao Avenue to the Ninoy Aquino International Airport

Infra projects to help PH achieve 7% growth in 2018 – DOF

Mar 09, 2018 - 11:56 PM

During the country’s annual briefing with the Asian Development Bank, Finance Secretary Carlos Dominguez III says, 'Mindanao today is at the front and center of the Build, Build, Build infrastructure program'

PH economic managers hail ranking by U.S. firm, vow more reforms

Mar 06, 2018 - 10:40 PM

'Our efforts to create a more business- and investor-friendly environment are gaining traction,' says Socioeconomic Planning Secretary Ernesto Pernia, after an American firm ranked the Philippines as the best country to invest in

DOF expects February inflation to exceed projections

Mar 05, 2018 - 7:45 PM

The Department of Finance attributes this to the higher prices of sin products such as cigarettes and alcoholic beverages

SIN PRODUCTS. A visit to Puregold supermarket on January 8, 2018 shows that a pack of Marlboro Black 20s is more expensive at P87.50, from last year's P68. Photo by Chrisee Dela Paz/Rappler

Inflation seen to continue hitting poor Filipinos hard

Mar 05, 2018 - 10:21 AM

Dennis Mapa, dean of the UP Diliman School of Statistics, also says the P200 monthly subsidy for poor Filipino households is not enough to offset the impact of the tax reform law

A vendor sells vegetables at a market near an informal settlers area in Manila on February 16, 2011. Rising food prices have pushed about 44 million people into poverty in developing countries since last June, the World Bank warned February 15. AFP PHOTO/TED ALJIBE / AFP PHOTO / TED ALJIBE

Philippines, Japan sign P4-billion loan deal for Bulacan road

Feb 28, 2018 - 7:31 PM

The loan will go towards expanding the Plaridel Bypass Road from two lanes to a 4-lane carriageway national road

Philippines' hosting of ADB meeting 'more frugal' in 2018 than in 2012

Feb 20, 2018 - 4:05 PM

The Philippine government earmarks less than P90 million for the hosting of the Asian Development Bank annual meeting in 2018, lower than the P200 million it spent in 2012

Tax collected from Mighty up by P4 billion monthly since JTI takeover

Feb 05, 2018 - 12:05 AM

Excise tax payments on Mighty brands surge by 262% to P20.22 billion from September to December 2017, compared to the same period in 2016, when Mighty was still controlled by its previous owners

RAID. Customs officials inspect cigarette cartons inside a container van belonging to Mighty Corporation in Tacloban City on March 8, 2017. Photo by Jazmin Bonifacio/Rappler

#AskTheTaxWhiz: Beauty comes with a price, plus tax

Jan 28, 2018 - 8:00 PM

The Philippine Tax Whiz answers questions on the new excise tax on cosmetic surgery

DOF bolsters new tax academy with scholarships

Jan 25, 2018 - 1:54 PM

The scholarships are for employees – to train the next generation of public finance managers – while the DOF supports a JICA program open to those in the private sector

#AskTheTaxWhiz: Top 10 questions about the tax reform law

Jan 17, 2018 - 4:40 PM

The Philippine Tax Whiz explains what the Tax Reform for Acceleration and Inclusion (TRAIN) law is all about

Poor families to get P200 tax reform subsidy starting January

Jan 15, 2018 - 1:25 PM

A total of 10 million families would benefit from the Unconditional Cash Transfer (UCT) scheme, says the Department of Social Welfare and Development

INFORMAL SECTOR. The tax reform initiative will hit vendors and small-scare independent traders the hardest. Photo by Martin San Diego/Rappler

[OPINION] Without enough transfers, tax reform law will hurt the poor

Jan 10, 2018 - 5:29 PM

'All in all, the first package of TRAIN was an opportunity to correct many problems that have long ailed our tax system. While a step in the right direction, many of TRAIN’s well-meaning provisions got watered down by politicians.'

EXPLAINER: How the tax reform law affects Filipino consumers

Jan 09, 2018 - 9:00 AM

Payroll managers start adjusting their systems to reflect the new withholding tax rates. Supermarkets, oil retailers, convenience stores, and even sidewalk vendors begin updating their price lists.

HIKE IN SRPs.The retail price of one-liter bottle of Coca Cola, for instance, is projected to increase to P43 per bottle from the current P31 per liter, in light of the TRAIN law. Photo by Chrisee Dela Paz/Rappler

DOF unit proposes 1,400% increase in casino entrance fee

Jan 08, 2018 - 4:10 PM

The National Tax Research Center says this increase would discourage low-income earners from gambling and would also lead to higher revenue collection for infrastructure projects

HIGH ENTRANCE FEES. Tourist and casino players arrive at the grand opening of the City of Dreams mega-casino in Manila on February 2, 2015. Photo by Jay Directo/AFP

New tax rates don't apply to old petroleum stocks, DOE warns

Jan 01, 2018 - 4:49 PM

New excise tax rates on petroleum products are levied upon importation, not at the point of sale to the consumers

NEW TAX RATES. The implementation of excise tax and value added tax (VAT) for petroleum products under the Tax Reform for Acceleration and Inclusion Law is effective on January 1, 2018. File photo

Duterte vetoes parts of tax reform law

Dec 22, 2017 - 7:12 PM

The vetoes will help the first package of tax reforms expected to reach the target P90 billion in revenue in 2018, according to the Department of Finance

President Rodrigo Roa Duterte shares a light moment with Finance Secretary Carlos Dominguez III during the cabinet cluster meeting in Malacañan Palace on November 6, 2017. ACE MORANDANTE/PRESIDENTIAL PHOTO

[OPINION] TRAIN at a crossroads on a coal tax

Dec 09, 2017 - 7:30 PM

Our electricity bills would likely increase not because of a coal tax but because coal will become more expensive in the years to come relative to renewable energy

#AskTheTaxWhiz: Will small businesses benefit from TRAIN?

Nov 30, 2017 - 5:30 PM

The Philippine Tax Whiz proposes a flat tax rate based on gross for small businesses

Justice remains elusive a year after Makati BIR director's death

Nov 24, 2017 - 9:05 AM

The son of Jonas Dela Peña Amora says they do not consider the arrest of the alleged gunman as an attainment of justice

ONE YEAR AFTER. Family, friends, and colleagues celebrate the life of Jonas Dela Peña Amora during his first death anniversary. File photo from Ivan Amora's Facebook page

#AskTheTaxWhiz: Will employees benefit from TRAIN?

Nov 17, 2017 - 5:30 PM

The Philippine Tax Whiz proposes a salary tax exclusive to employees

PH, Bank of China seal deal for $200-M 'Panda bond' offering

Nov 17, 2017 - 4:57 PM

The Philippine government will be the issuer while the Bank of China will be the lead underwriter in a 1.2 billion RMB offering aimed at Chinese investors

Dominguez, Jack Ma to meet in China for PH e-commerce dev't

Nov 02, 2017 - 2:50 PM

The Department of Finance is looking into building a logistics backbone for MSMEs and popularizing China's 3-1-0 online loan initiative in the Philippines

Finance Secretary Carlos Dominguez III (center) standing beside Alibaba Group founder Jack Ma (right) during a courtesy call to President Rodrigo Duterte (left) on October 25, 2017. Photo from Malacañang

Pernia wants changes in Senate version of tax reform bill

Oct 02, 2017 - 8:35 PM

There could be fewer infrastructure projects if the Senate version will be adopted, says Socioeconomic Planning Secretary Ernesto Pernia

ALMOST HALF. According to DOF estimates, the Senate's version of tax reform would only yield P59.9 billion in total incremental revenues. This is less than half of the P133.8 billion under the version approved by the House of Representatives in May. Rappler graphics

Senate OKs bill requiring economic managers to report to Congress

Sep 19, 2017 - 8:06 AM

The bill will mandate the Department of Finance, National Economic and Development Authority, the Department of Budget and Management, and the Central Bank to report biannually to Congress on fiscal and monetary policies

REPORT. The Senate has passed the bill seeking to require the country's economic managers to report biannually to Congress. Malacañang file photo

DOF installing new cybersecurity system

Sep 03, 2017 - 9:00 PM

The Department of Finance is cooperating with the Department of Information and Communications Technology on the system which it expects to be fully operational by 2021

ADB offers Philippines $3.8B in loans for infra, social projects

Aug 20, 2017 - 9:05 PM

Nearly half of the total will help fund infrastructure projects from 2018 to 2020 says the Department of Finance

Duterte gov't eyes taxes on coal

Aug 10, 2017 - 2:53 PM

As senators express concern about effects of higher fuel prices on basic commodities they ask the Department of Finance: Why not prioritize taxes on coal the dirtiest fuel instead of petroleum products?

COAL-FIRED POWERPLANT. The Duterte administration seeks to increase taxes on coal, considered the 'dirtiest' but cheapest power source. File photo

Businessmen's wishlist: 3rd telco player, C6 road, end Marawi crisis

Aug 09, 2017 - 9:05 PM

Several business leaders and the country s economic managers gather to discuss 10 issues they want to prioritize for 2017 and 2018

BETTER PH. Included in the wishlist are entry of a major telecommunications player, completion of Circumferential Road 6, and resolution of the ongoing conflict in Marawi City, Lanao del Sur. Rappler graphics

Higher auto taxes, poor mass transport a 'lose-lose situation' for the public

Aug 02, 2017 - 5:40 PM

Minahalan mo sasakyan di inayos mass transit kawawa dito commuters natin says Senator Sherwin Gatchalian

Photo by Inoue Jaena/Rappler

DOF to probe shabu shipment from China

Aug 02, 2017 - 5:00 PM

Asked if Customs Commissioner Nicanor Faeldon is off the hook Finance Secretary Carlos Dominguez III says no presidential appointee is safe from getting sacked

Duterte now 'open to amendments' on tax reform bill – senators

Aug 02, 2017 - 3:03 PM

The President accepted that the Senate will retain flexibility insofar as finally deciding the amounts of taxes Senate Minority Leader Franklin Drilon says after legislators 3 hour meeting with the Chief Executive

TRO ON IMPLANTS. President Rodrigo Duterte addresses Chief Justice Maria Lourdes Sereno in appeal to lift the temporary restraining order on 2 brands of implant.

Philippine Tax Academy set to open in 2018

Jul 16, 2017 - 10:25 PM

The curriculum will include technical aspects of tax collection administration and compliance

TAX ACADEMY. The Republic Act (RA) 10143 – which was signed into law 7 years ago – enables the government to build such learning institution. Rappler file image

Mighty Corp offers to settle BIR tax cases for P25 billion

Jul 12, 2017 - 9:50 PM

The embattled tobacco firm offers to pay the government P25 billion to cover tax deficiencies with the funds to come from the planned sale of its assets to JTI

DOF chief says tax reform law must generate at least P130B revenue

Jul 06, 2017 - 2:46 PM

A tax reform law diluted such that it will generate less than P130 billion is not acceptable for one of Duterte s economic managers

Photo from Malacanang

Without efficient public transport, higher auto taxes 'unfair'

Jun 08, 2017 - 5:15 PM

It s not going to be fair to the commuting public that we don t have that efficient transport system and yet we are shelling out big amounts in order to buy private vehicles says the Automobile Association of the Philippines

AFP file photo

Resorts World gunman attended hearing for P6M forfeiture case before attack

Jun 06, 2017 - 7:25 PM

Carlos offers to pay government P1 2 million instead of P6 4 million but Ombudsman prosecutors reject this as his forfeiture case continues

TROUBLED EMPLOYEE. Jessie Carlos, the gunman in the Resorts World Manila attack, turns out to be a former government tax specialist who faced an ill-gotten wealth case. Photo by LeAnne Jazul/Rappler

Resorts World gunman, school opening, Putin | Midday wRap

Jun 05, 2017 - 12:28 PM

Watch the midday newscast with Zak Yuson

Duterte admin's tax reform package a 'big mistake' – labor coalition

Jun 01, 2017 - 9:15 PM

ALU TUCP says the tax reform package just passed by the House is not uplifting because those who are already poor workers would become even poorer

UNEMPLOYMENT. Thousands of job seekers troop the Quezon City Hall on Labor Day, May 1, to seek for job opportunities at the DOLE's Job Fair. Photo by Darren Langit/Rappler

Duterte certifies tax reform bill as urgent

May 29, 2017 - 4:00 PM

The House of Representatives could approve the bill on both 2nd and 3rd readings this week

President Rodrigo Duterte now wants the House to prioritize the tax reform bill before it adjourns session this week. File photo by Malacañang  President Rodrigo Duterte now wants the House to prioritize the tax reform bill before it adjourns session this week. File photo by Malacañang

Palace clarifies: PH not accepting EU grants 'with conditions'

May 18, 2017 - 2:24 PM

UPDATED The Philippines clarifies it will continue to accept grants like humanitarian aid that will not come with objectionable conditions

Presidential Spokesperson Ernesto Abella answers queries from members of the media during a press briefing in Malacañang on April 19, 2017. KING RODRIGUEZ/Presidential Photo

No tax for Filipinos earning P21,000 or below monthly under revised DOF proposal

Apr 24, 2017 - 12:30 AM

For instance a call center agent who earns P21 000 a month with a gross income of P273 000 inclusive of the 13th month pay and other benefits will still fall under the zero tax bracket

PROPOSED REVISIONS. The revised package under HB 4774 includes lowering rates for estate and donor’s taxes, adjusting automobile and fuel excise taxes, and expanding VAT base but retaining exemptions for senior citizens citizens and persons with disabilities. Rappler file photo

FAST FACTS: Avoiding double taxation for nonresidents

Apr 01, 2017 - 1:30 PM

The Philippines is currently a signatory to 41 tax treaties that address double taxation situations

DOUBLE TAX. To avoid the double taxation of nonresidents, the Philippines is currently a signatory of 41 tax treaties.

FAST FACTS: Time to pay taxes, what should you know?

Mar 29, 2017 - 4:29 PM

As we approach the tax month of April check if you know enough about the Philippine tax landscape

PH asks Australia to open market for banana growers

Mar 26, 2017 - 11:05 PM

Philippine Finance Secretary Carlos Dominguez III once an agriculture chief raises the Philippines two decade concern in his meeting with Australian Foreign Minister Julie Bishop

LONGSTANDING CONCERN. Banana products from Mindanao plantations are exported to markets like Middle East, Russia, China, Japan, and South Korea where demand for the fresh fruit has increased in recent years. But Australia continues to impose stricter screening measures on Philippine bananas entering their borders. File photo by AFP

Phoenix Petroleum offers to pay taxes in advance

Mar 26, 2017 - 9:55 PM

This marks the first time any oil company has volunteered to pay its taxes in advance to show support for a government program

HIGHER TAXES. This is Phoenix Petroleum's gesture of support to the administration's proposed tax reform, which includes higher excise taxes. Image from Phoenix Petroleum official website