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THE Department of Finance (DOF) is pushing for the passage of the Passive Income Finan-cial Intermediary Taxation Act (PIFITA) to yield positive revenue collection and to meet the Medium-Term Fiscal Framework (MTFF) in 2028. Finance Assistant Secretary Karlo Fermin S. Adriano pointed out that the tax reform measures should be…
The government is seen to generate over P200 billion in fresh revenues from its “refined” tax proposals, the Department of Finance (DOF) said Friday. The refined priority tax measures of the DOF are the value added tax (VAT) on digital service providers (DSP); the imposition of excise tax on single-use plastics…
REDUCING the deficit and making the country less dependent on debt can only become a reality if crucial legislative reforms are undertaken, according to the Department of Finance (DOF). In a speech before senior staff of legislators on Thursday, Finance Secretary Ralph G. Recto said these reforms include Package 3…