Ralph Recto Explains Why Lowering VAT Could Harm the Economy RALPH RECTO — The Finance Secretary has warned about the possible negative effects of the proposal to lower the value-added tax (VAT) from 12% to 10%. During a Senate hearing on October 15, 2025, Secretary Recto said that cutting the VAT rate could cause a … Read more
Ogie Diaz is not in favor of giving P1K “ayuda” to Filipino households OGIE DIAZ – The talent manager/vlogger took to social media wherein he expressed his opposition to the proposed P1000 “ayuda” to Filipino households. Inflation, the rate at which prices of goods and services rise over time, can have several negative effects on … Read more
Finance Secretary Benjamin Diokno: “We continue to seek support from international channels and partners to help us combat this [climate] crisis” DIOKNO — The Department of Finance (DOF) said that Finance Secretary Benjamin Diokno urged international partners to boost aid for climate change mitigation and adaptation measures. Diokno urged the private sector and multilateral development … Read more
Benjamin Diokno: “It is an honor to serve the Filipino people in my current and any future capacity.” BENJAMIN DIOKNO — Here’s what the BSP chief said after being chosen as finance secretary of President-elect Bongbong Marcos. Diokno is Bongbong’s pick to lead the Department of Finance (DOF). He was supposed to serve as Bangko … Read more
The government will borrow additional money if fuel tax is suspended, according to DOF. DOF — The Department of Finance said that the government would need to borrow additional money from creditors should the taxes on petroleum products are suspended. According to Finance Secretary Carlos G. Dominguez III, suspending fuel excise taxes will only provide … Read more
The government will settle its debt to the BSP before the new administration, according to Dominguez. Finance Secretary Carlos Dominguez III said that the government will settle its debt to the Bangko Sentral ng Pilipinas (BSP) before the new administration. The country’s finance chief said in an online forum with the Tuesday Club that the … Read more
The non-filing of ITR wasn’t a violation under the 1977 NIRC, according to DOF. DOF — The Department of Finance said that the non-filing of income tax return (ITR) wasn’t a violation under the 1977 National Internal Revenue Code (NIRC). According to Finance Secretary Carlos G. Dominguez III, failure to file an ITR wasn’t a … Read more
The DOF has proposed the centralized government collection system through BIR. DOF — The Department of Finance has proposed that all government collection be coursed via the Bureau of Internal Revenue (BIR) as part of efforts in order to centralize business transactions in the Philippines. According to Finance Secretary Carlos Dominguez, the Department of Finance … Read more
The DOF wanted fintech companies to be “properly” taxed and regulated. DOF — The Department of Finance wanted fintech companies in the Philippines to be properly taxed and regulated while urging the sector’s growth and continued innovation. On Tuesday, DOF Secretary Carlos G. Dominguez III said in a statement that he has tasked the Bureau … Read more
The BIR will strengthen tex regulations as fintech usage grows, according to DOF. DOF — The Department of Finance said on Friday that the Bureau of Internal Revenue (BIR) will strengthen tax regulations for the financial technology (fintech) industry as online transactions continued to gain traction during the pandemic. Revenue Deputy Commissioner Marissa Cabreros recently … Read more