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MANILA, Philippines — The country’s investment climate will likely regain its momentum once policy rates here and abroad start to normalize in the second half of the year, coupled with economic reforms meant to attract foreign capital.
MANILA, Philippines — The planned legal merger of the Land Bank of the Philippines and the Development Bank of the Philippines (DBP) is no longer pushing through as Finance Secretary Ralph Recto deviates yet again from his predecessor.
MANILA, Philippines — The Bureau of Internal Revenue (BIR) has issued an updated list of value-added tax or VAT-exempt medicines for diseases such as cancer, hypertension and diabetes.
MANILA, Philippines — Finance Secretary Ralph Recto is not inclined to impose additional consumption-based taxes such as on junk food and sweetened beverages as these measures can be inflationary, while the debt level remains manageable and does not warrant extra burden on Filipinos.
MANILA, Philippines — The Department of Budget and Management (DBM) maintained yesterday that the nearly P450 billion in unprogrammed appropriations in this year’s budget is constitutional after opposition lawmakers asked the Supreme Court (SC) to nullify the allocation.
MANILA, Philippines — House Deputy Speaker Ralph Recto is taking over the post of Benjamin Diokno as finance secretary and head of the administration’s economic team.
MANILA, Philippines — The budget allocation for local government units (LGUs) this year will increase by six percent to P871 billion as state revenues have slowly recovered from the COVID pandemic.
MANILA, Philippines — The Bureau of Internal Revenue (BIR) has officially imposed a one percent withholding tax on online platform providers as part of government efforts to tap digital transactions for economic growth.