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Dominguez: PH needs ‘more years’ to fully recover losses from pandemic

Bruce Rodriguez, ABS-CBN News
Posted at Feb 26 07:33 PM

Finance Secretary Carlos Dominguez III said the local economy will need "more years" to go back to its pre-pandemic levels as the country continues to stagger from the impacts of COVID-19. Read more »

Savings from CREATE tax cuts to be re-invested back to the economy: business leaders

Warren de Guzman, ABS-CBN News
Posted at Feb 17 10:59 PM

The country's top businessmen said the passage of a bill that will cut corporate taxes from 30 percent to 25 percent will attract not just foreign investors, but also re-investments from big local firms. Read more »

New P7.25-B agreement to protect environment part of US’ ‘longstanding support’ to PH

ABS-CBN News
Posted at Feb 04 02:44 AM

The US Embassy said the new deal will deepen the two countries' commitment "to protect the environment by promoting the sustainable use of natural resources." Read more »

House, Senate ratify CREATE bill lowering corporate income taxes

ABS-CBN News
Updated as of Feb 03 05:22 PM

(UPDATE) The House of Representatives and the Senate ratified Wednesday a bicameral committee report on a bill that will reduce the corporate income tax rate in a bid to attract more foreign investments and help the Philippine economy recover from the coronavirus pandemic. Read more »

Bicam approves CREATE bill which lowers corporate income taxes

Reuters
Updated as of Feb 02 12:16 AM

MANILA (UPDATED) - A joint Philippine congressional panel approved on Monday a bill that will reduce the rate of corporate income tax in a bid to attract more foreign investment and help the coronavirus-hit Southeast Asian economy recover. Read more »

DOF bats for ‘doable’ economic measures as Congress holds Cha-cha hearings

ABS-CBN News
Posted at Jan 26 03:37 PM

Finance Secretary Carlos Dominguez III said lawmakers should pass “doable” economic measures with only 17 months left in the administration of President Rodrigo Duterte, as Congress again held hearings on amendments to the Constitution on Tuesday.   Read more »

Philippines' COVID-19 loans balloon to P641 billion; to be paid until 2049

ABS-CBN Investigative and Research Group
Posted at Jan 21 05:28 PM

The running total of the country’s USD13.34 billion or approximately P640.96 billion loans will be paid from 2023-2049, with an average repayment period of 15 years for each loan. Read more »

Philippine chamber calls on Congress to fast-track corporate tax reform bill

ABS-CBN News
Posted at Jan 18 03:22 PM

The Philippine Chamber of Commerce and Industry said lawmakers should "focus on the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE)."  Read more »

Finance chief assures enough funds for COVID-19 vaccines

ABS-CBN News
Posted at Jan 14 01:24 PM

Finance Secretary Carlos Dominguez III said the DOF has “in place” P75 billion of the P82.5 billion budget required to provide vaccines to around 55 percent of the population. Read more »

Debt, budget deficit levels rising but remain manageable: Finance chief

ABS-CBN News
Posted at Jan 12 06:10 PM

The Philippines’ rising debt and budget deficit levels remain manageable and sustainable, the Department of Finance said on Tuesday.    Read more »

DOF says state-run firms remit P160 billion in dividends to Treasury

ABS-CBN News
Posted at Dec 30 07:24 PM

State-run firms remitted P160.6 billion in dividends to the Bureau of the Treasury (BTr) this year to add to the country's war chest against COVID-19, the Department of Finance (DOF) said Wednesday. Read more »

Japanese investors welcome CREATE bill says DOF

ABS-CBN News
Posted at Dec 29 11:18 AM

Japanese investors welcome a bill seeking to lower corporate income tax rates, the Department of Finance said Monday.    Read more »

Megawide appeals to restore original proponent status for NAIA rehab

ABS-CBN News
Updated as of Dec 21 05:40 PM

The Filipino-Indian consortium bidding to rehabilitate the Ninoy Aquino International Airport is appealing the revocation of its original proponent status (OPS), according to a document obtained on Monday by ABS-CBN News.  Read more »

Panukalang batas sa pagtatatag ng Dept. of Overseas Filipinos, sinertipikahan bilang urgent measure

Joyce Balancio, ABS-CBN News
Posted at Dec 15 11:11 PM

Paliwanag ng Pangulo, ito ay para maibsan umano ang hirap ng mga Pilipino na nasa ibang bansa. Read more »

Gov’t says fiscal stimulus enough despite forecasting worst post-war recession

ABS-CBN News
Posted at Dec 03 10:49 PM

The 2021 budget will be enough to revive the economy, government officials said on Thursday despite projecting the worst full-year recession since World War 2. Read more »

PITC pinabubuwag, natenggang pondo pinababalik sa Treasury

ABS-CBN News
Posted at Nov 30 09:04 PM

Ayon kay Finance Secretary Sonny Dominguez, dapat ibalik ang natenggang pondo at interes na kinita ng nasabing kompanya. Read more »

Finance chief tells PITC: Return P1.15-B interest earnings to national treasury

Katrina Domingo, ABS-CBN News
Updated as of Nov 30 04:12 PM

Finance Secretary Carlos Dominguez has asked the Department of Trade and Industry (DTI) to return to the Bureau of Treasury some P1.5 billion in interest earnings the Philippine International Trading Corp. (PITC) made through public funds lodged in the state trading company. Read more »

Finance chief orders BIR, Customs to investigate cooperatives used for rice imports

ABS-CBN News
Posted at Nov 27 04:49 PM

Finance Secretary Carlos Dominguez III has ordered the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) to help the Department of Agriculture in investigating the alleged use of cooperatives by private traders as dummies for rice imports.    Read more »

CREATE bill hurdles Senate on final reading after DOF agrees to easing some provisions

Katrina Domingo, ABS-CBN News
Updated as of Nov 26 08:34 PM

The Senate on Thursday approved on final reading the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, after the Department of Finance (DOF) agreed to ease several provisions that might discourage investors from coming to the Philippines. Read more »

Senate defers CREATE passage, as Gordon fights for freeports, investment friendly provisions

Katrina Domingo, ABS-CBN News
Updated as of Nov 26 02:04 AM

"If you put handcuffs on Subic, Subic will simply die," Gordon said. Read more »