FINANCE Secretary Carlos G. Dominguez III ordered relevant agencies to expedite the processing of tax and duty exemptions of donations to the communities that suffered from the onslaught of Typhoon Odette. Dominguez informed President Duterte in a letter dated December 21 that the Department of Finance (DOF) stands ready to…
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Secretary Karl Kendrick Chua has become a household name in the Duterte administration since his appointment as the National Economic and Development Authority (NEDA) chief at the onset of the COVID-19 pandemic in April 2020. But long before he was named as NEDA chief, he had already be
Gov t to lose P131B if fuel excise tax deferred visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
(File photo) MANILA - Around PHP131.4 billion worth of government revenues are seen to be lost in 2022 if the proposed suspension of excise tax on petroleum products will be passed by lawmakers, the Department of Finance (DOF) said on Thursday. Specifically, around PHP24.7 billion will not be collected by the Bureau of Customs (BOC) as baseline excise revenues while around PHP106.7 billion will not be collected from the incremental excise revenues under the Tax Reform for Acceleration and Inclusion (TRAIN) law or Republic Act 10963. These figures were based on the projected total excise collection from petroleum products in the 2022 Budget of Expenditures and Sources of financing (BESF), Finance Undersecretary for Revenue Operations Group Antonette Tionko said in a memorandum to Finance Secretary Carlos Dominguez III dated October 20. "Any suspension of the imposition of excise taxes should be appropriately studied as the revenue to be foregone is substantial and may affect the go
The trade activity in the Philippines is continuing to show recovery, the Department of Finance (DOF) said, but the government should still continue to be vigilant with the prevalence of the highly transmissible Delta variant.
In his latest DOF economic bulletin, Finance Undersecretary and C