DOF Says Government To Borrow More If Fuel Tax Is Suspended


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

House Approves Bill Imposing VAT On Digital Transactions On Final Reading

digital transactions

House approved on final reading the bill imposing VAT on digital transactions. On Tuesday, the House of Representatives approved on final reading the bill imposing value-added tax (VAT) on digital transactions — including streaming platforms such as Spotify and Netflix. With 167 affirmative, 1 abstained, and 6 negative votes, House Bill 7425 was approved on … Read more