DOF

Diokno Urges International Partners To Ramp Up Support For Climate Change Mitigation, Adaptation Measures

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Finance Secretary Benjamin Diokno

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

Incoming BIR Commissioner To Pursue Expanded Digitized Tax Collection

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Incoming BIR Commissioner Lilia Guillermo

Incoming BIR Commissioner Lilia Guillermo: “This will make the tax collection system more efficient and less prone to graft and corruption.” LILIA GUILLERMO — The incoming Bureau of Internal Revenue (BIR) commissioner said that she will pursue an expanded digitized tax collection for transparency and more efficiency. Guillermo, who is a former BIR Deputy Commissioner … Read more

DOF Says Government To Borrow More If Fuel Tax Is Suspended

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DOF

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

Dominguez Says Gov’t To Settle Debt To BSP Before New Admin

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BSP

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

DOF Says Non-Filing Of ITR Not A Violation Under 1977 NIRC

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DOF

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

DOF Proposes Centralized Government Collection System Through BIR

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DOF

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

DOF Wants Fintech Companies “Properly” Taxed, Regulated

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DOF

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

DOF Says BIR To Strengthen Tax Regulations As Fintech Usage Grows

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BIR

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

Dominguez Orders BIR To Study Other Countries’ Tax Practices On Digital Transactions

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Carlos Dominguez III

Dominguez ordered BIR to study other countries’ tax practices on digital transactions. DOF — Finance Secretary Carlos Dominguez III ordered the Bureau of Internal Revenue (BIR) to study other countries’ tax practices on digital transactions. Dominguez has ordered the BIR to form a unit dedicated to tracking sales of goods done online and to coordinate … Read more