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MANILA, Philippines — The Department of Finance (DOF) has reaffirmed its commitment to transparency and strict compliance with the Supreme Court (SC) decision and relevant laws in determining the National Tax Allotment (NTA) shares for local government units (LGUs).
THE Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) both likely hit their 2024 revenue targets, Finance Secretary Ralph Recto said, but maintaining the momentum this year could be a challenge.
MANILA, Philippines — The Philippines likely missed its 2024 gross domestic product (GDP) target due to multiple typhoons that struck the country, Finance Secretary Ralph Recto said.
MANILA, Philippines — Finance Secretary Ralph Recto said that local government units (LGU) are set to get a higher portion from national taxes, going from around 32% to 36%.
MANILA, Philippines — President Ferdinand Marcos Jr. directed the Department of Health (DOH) to ensure the continued operation of Philippine Health Insurance Corporation (PhilHealth) services, even in the absence of government subsidies.
MANILA, Philippines — The League of Cities of the Philippines (LCP) has supported the call of Baguio City Mayor Benjamin Magalong for a transparent accounting of the national tax allotment or NTA for local government units (LGUs).
If Maharlika Investment Corp. (MIC), the country’s first sovereign wealth fund, has its way, its investment in the National Grid Corp. of the Philippines could become a reality as early as January, the first month of the New Year.
MANILA, Philippines — Finance Secretary Ralph Recto is optimistic about the Philippines’ economic prospects in 2025, fueled by the recent enactment of two key laws aimed at boosting the tourism industry and local spending as well as strengthening food security in the country.