Department of Finance
ARTICLE FINDER

Inflation expected to jump even higher in August 2018

Sep 03, 2018 - 10:45 AM

The Department of Finance (DOF) expects inflation to hit another 9-year high

Job losses 'very minimal' under Trabaho bill – DOF

Aug 22, 2018 - 1:45 PM

Finance Undersecretary Karl Kendrick Chua says over 97,000 small and medium enterprises can expand their businesses and generate more jobs due to lower taxes

JOBS. Finance Undersecretary Karl Kendrick Chua says lowering of corporate income taxes mean more jobs. Photo by Toto Lozano/Presidential Photo


Bataan investors defend need for incentives

Aug 16, 2018 - 7:40 PM

The investors raise concerns in a meeting with House officials and the Department of Finance to tackle the tax reforms under the Trabaho bill

Photo courtesy of Speaker Arroyo's office

Dominguez warns unclear federalism proposal would scare investors

Aug 15, 2018 - 5:05 PM

Finance Secretary Carlos Dominguez III says foreigners 'will not invest' if the rules under federalism are not clear

CLARITY. Finance Secretary Carlos Dominguez says the fiscal provisions under federalism must be clear. Photo by DARREN LANGIT


Chinese debt trap? Americans did it too – Dominguez

Jul 31, 2018 - 5:25 PM

'We are not naive. We know all ODA (official development assistance) projects of all countries are designed to influence,' says Finance Secretary Carlos Dominguez III

EXPLAINER: Why the government is pushing for 2nd TRAIN package

Jul 31, 2018 - 3:05 PM

Economic managers aim to cut corporate taxes and push for a simpler fiscal incentive scheme, so what's stopping them? Two Goliaths: politics and money.

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

COA slams DOF over unused funds, unauthorized honoraria

Jul 20, 2018 - 2:49 PM

The Commission on Audit (COA) recommends that the Department of Finance come up with a 'more realistic budget proposal'

Thanks to loans, Build, Build, Build 'moving faster' – DOF

Jul 04, 2018 - 4:36 PM

Build, Build, Build is currently financed by taxes, official development assistance, and commercial loans

SITE INSPECTION. Finance Secretary Carlos Dominguez III speaks to reporters during an inspection of the National Government Administration Center on July 4, 2018. Photo by Aika Rey/Rappler

Philippines plans $1-billion samurai bond sale

Jun 19, 2018 - 7:25 PM

Finance Secretary Carlos Dominguez III previously said the samurai bond sale will happen sometime in the 3rd or 4th quarter of the year

DOF criticized for 'misleading' inflation graph

Jun 10, 2018 - 7:50 PM

Ex-Department of Finance undersecretary Sunny Sevilla says he is 'dumbfounded' by his former agency's 'tone-deaf, misleading economic commentary'

[EDITORIAL] #AnimatED: The bad joke that is Benjamin Diokno

Jun 04, 2018 - 9:00 AM

Step down from your ivory tower and embrace reality – the reality of the shrinking peso, in the truest meaning of the word

Gov't underspending leads to narrower budget deficit as of April

May 23, 2018 - 8:05 PM

The Philippines' budget deficit from January to April is at P115.9 billion, lower than the P167.1-billion projection

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

Customs uncovers P600-M worth of fake beauty products

Mar 28, 2018 - 11:14 PM

Customs Commissioner Lapena says, 'smugglers nowadays are bold to import these counterfeit items because majority of the Filipinos patronize fake products (for) its cheaper price'

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

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'

Customs employees to get P1.4M incentive each if...

Mar 07, 2018 - 6:38 PM

Customs chief Isidro Lapeña says the bureau has to sustain until yearend the P2-billion monthly collection surplus it has registered so far

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

Philippine finance chief hails BIR's 'extraordinary' 2017

Dec 29, 2017 - 5:55 PM

In 2017, the Bureau of Internal Revenue booked the country's biggest-ever tax settlement case: Mighty Corporation's about P30 billion liabilities

Finance Secretary Carlos Dominguez III lauds the Bureau of Internal Revenue for its efficient campaign against big-time tax dodgers. File photo from Rappler

[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

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

Has change really come? Misleading graphs and how to spot them

Aug 05, 2017 - 10:00 AM

Next time you encounter a graph don’t take it at face value Examine the variables scrutinize the labels check the sources and understand the message – all before you click share

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