Rappler's latest stories on Department of Finance
Davao, Cebu road projects get P75-billion Japan funding
The Philippines and Japan sign a new loan deal worth P75.5 billion for the Davao City Bypass and the Cebu-Mactan 4th Bridge and Coastal Road
After clash, Dominguez offers Economics 101 for Imee Marcos
The offer of Finance Secretary Carlos Dominguez III to provide a special briefing comes after he clashed with Senator Imee Marcos over Masagana 99, the failed rice program of dictator Ferdinand Marcos
BDO tops initial list of top taxpayers in 2019
A subsidiary of embattled ABS-CBN also makes it to the initial list of the top 500 taxpayers
DOF says P130-B stimulus program 'appropriate,' as departments wish for more
Labor, tourism, and transportation departments tell senators they need a total of P205-billion coronavirus bailout
Philippines eyes joint ventures, guarantees to save virus-hit businesses
The government is looking at liquidity and equity infusions to save the tourism and travel industries. Small lenders will also be given a boost by state-run banks.
DOF rejects Imee Marcos' proposal to defer debt payments
(UPDATED) Finance Secretary Carlos Dominguez III says proposals to defer paying debt obligations in favor of financing coronavirus-related expenses are 'narrow-sighted'
Aid for firms 'take a back seat,' poor are 'priority' in PH virus fight
Finance Secretary Carlos Dominguez III says the government will 'eventually' put in place programs for businesses. For now, they will prioritize cash subsidies.
Philippines ready to increase debt levels vs coronavirus
The Duterte administration is seeking a $1-billion loan on top of the massive budget realignments to combat the pandemic
Lawmakers ask DOF, BIR: Don’t be ‘heartless,' extend tax filing deadline
'Hindi kami nanghihingi ng pera. Magbabayad kami ng buwis. Pero huwag mo naman sabihin sa amin na magbayad kami 2 araw matapos ang quarantine na in-impose niyo,' says Congressman Joey Salceda
Philippines to borrow more than planned to combat coronavirus impact
As lower revenue collection is seen due to the spreading novel coronavirus, the Philippines' budget deficit may hit as high as 3.6%
Military denies soldiers helped syndicates smuggle cash into PH
It could have been retired servicemen now working for private security companies whom the Bureau of Customs spotted escorting syndicates' couriers at the airport, says AFP spokesperson Edgard Arevalo
'A mess': Coronavirus economic impact on Philippines worse than projected
The Philippines' economic managers see lower tax collections and reduced Chinese imports due to the spread of the virus
Police, military 'helped syndicates' bring in P18.7 billion to Philippines
The Bureau of Customs says couriers of dirty money working for two criminal groups were able to waltz through airport security with police and military escorts
'No impact' on fuel supply if 'onerous' Chevron land rental not renewed – DOE
The Department of Energy plans to build an 'energy city' in place of Chevron's facilities on government land in San Pascual, Batangas
Finance team says PH economy 'can handle' coronavirus effects
Philippine officials do not see the novel coronavirus putting a major dent in the economy
DOF slams Chevron over 'onerous' rental of government land
The Department of Finance says Chevron Philippines only pays P0.74 per sqm or just over P10 million a year to rent a 1.2-million-sqm land in San Pascual, Batangas
Dominguez says BIR did a 'good job' despite missing 2019 collection target
The Bureau of Internal Revenue's collection in 2019 breaches the P2-trillion mark, but still falls short of the ambitious target
World Bank loans Philippines $300 million for conditional cash transfers
The World Bank has contributed a total of $1.26 billion to the Pantawid Pamilyang Pilipino Program since it first provided funding in 2010
'A real patriot': Colleagues, friends honor ex-DOF chief Ernest Leung
'Tough as nails, straight as an arrow, and a real patriot. One of a kind,' says former interior secretary Rafael Alunan III of former finance secretary Ernest Leung
DOF not too keen on taxing salty products
'Meron diyang food labeling types of intervention.... So nandoon palang ‘yung usapan, wala pang specific proposal para dito sa panukalang ito,' says Finance Assistant Secretary Tony Lambino
Sandiganbayan convicts 3 ex-DOF officials over tax credit fraud
Former DOF officials Uldarico Andutan Jr, Raul de Vera, and Rosanna Diala are sentenced to 6 years in jail over the 'fraudulent approval' of a P6-million tax credit certificate for Jam Transit
DOF backs more taxes for online gambling firms
Finance Secretary Carlos Dominguez supports the plan of Albay Representative Joey Salceda to slap more taxes on Philippine Offshore Gaming Operators and their service providers
TUCP fears job losses under Citira bill
The Trade Union Congress of the Philippines urges government agencies to put in place a 'genuine transition program' for displaced workers before Citira's implementation – not after
After rejecting foreign aid over drug war, PH seeks new funders
The Department of Finance is looking for funding from new partners – ones that did not support the resolution adopted by the United Nations Human Rights Council
Philippines 'can earn P300B yearly' if gaming industry privatized
Finance Secretary Carlos Dominguez III says P300 billion in annual revenues can be achieved 'with no effort' should the government privatize Pagcor and PCSO gaming operations
Dominguez orders BIR to shut down tax-dodging POGOs
'Those who don't pay or respond to your assessments, clamp them down,' says Finance Secretary Carlos Dominguez III
'Noisy naysayers' vs Citira bill proven wrong by numbers, says DOF
Finance Undersecretary Karl Chua says the surge in investment pledges in the 1st half of 2019 refutes claims of critics of the proposed Corporate Income Tax and Incentive Rationalization Act
Philippines, ADB sign $1.3-B loan deal for Malolos-Clark Railway
The Malolos-Clark Railway is seen to cut travel time from Manila to the Clark International Airport to less than an hour
Recto: All Chinese workers in PH must pay taxes
'That's the right approach. Before you badger Congress to levy new taxes or raise rates, kindly plug the leaks first,' says Senate President Pro Tempore Ralph Recto
17th Congress filed too many bills gov't can't afford
Finance Secretary Carlos Dominguez III says the 17th Congress filed over a hundred bills that were simply financially unsustainable. His solution: a weekly meeting with lawmakers.
Philippines, Japan sign $202-million loan deal for Mindanao roads
Among the roads to be reconstructed and improved are those damaged in war-torn Marawi City, where delays have plagued the rehabilitation
Ex-DOF officials face up to 70 years in jail over tax credit fraud
The Sandiganbayan finds former Department of Finance officials guilty of graft for issuing fraudulent tax credit certificates in 1997 and 1998
[ANALYSIS] We never defaulted on our loans? That’s historical revisionism
By saying the country 'never, never defaulted on its loans,' the DOF is being naïve at best and disingenuous at worst
Fearing default on China loans? You have 'no faith' in PH – Dominguez
'The Philippines has no history of defaulting on its loans. So why are people saying now that we will default? They have no faith in the Philippines?' says Finance Secretary Carlos Dominguez III
Loan default? DOF says Reed Bank gas can be sold to raise funds
Finance Undersecretary Bayani Agabin says that in the 'unlikely' event of a loan default, China cannot claim Reed Bank. Instead, the Philippines can sell gas and use the cash to pay Beijing.
Made in China: Loan terms with waivers, shrouded in secrecy
Rappler reviews loan documents for the Philippines' infrastructure projects and finds that China is demanding more than others and wants deals kept opaque
Reed Bank not collateral to China loan? Carpio rebuts Duterte gov't
Senior Associate Justice Antonio Carpio counters the claims of government officials who sought to downplay his warning against the repercussions of a government loan from China
What are patrimonial assets? Lambino rejects China debt trap fears
Finance Assistant Secretary Antonio Lambino implies that the Philippines would not lose the gas-rich Reed Bank, as it is not considered a patrimonial asset
Finance department zeroes in on foreign online gambling workers
Finance Secretary Carlos Dominguez III says it is important to find out where foreign online gambling workers are located, given the 'national security implications' and their large presence here
DOF ranks accuracy of analysts' GDP forecasts
(UPDATED) After ranking economists and analysts according to the accuracy of their inflation forecasts, the DOF looks into their GDP projections
DOF urges lawmakers to speed up alcohol excise tax hike
While both tobacco and alcohol saw excise tax hikes back in 2012, the Department of Finance says alcohol lags behind in revenue contribution
Japan-funded projects for signing in Q1 2019
More flood control and road projects are set to be funded by Japan this year
DOF turns sour as sugar tax collections miss target
Taxes collected from sugar-sweetened beverages from January to October 2018 stand at P30 billion, 25% short of the P40-billion target
DOF's 2019 wish: Passage of Trabaho bill, other tax reform packages
Finance Secretary Carlos Dominguez III says they will seek a last push discussion with legislators for the approval of the measures before the 2019 elections
Tax Academy to offer public finance, online courses in 2019
Finance Undersecretary Gil Beltran says this setup will make courses of the Philippine Tax Academy available to all personnel of revenue agencies
Arroyo as next finance or budget chief? Diokno says 'all speculation'
'Sa job ko? My goodness... Kala ko kay Secretary [Carlos] Dominguez, hindi naman sa akin. But these are all speculation, okay,' says Diokno
[ANALYSIS] Let’s not blame the forecasters for runaway inflation
Antagonistic remarks only put at risk otherwise friendly relations between government and the private sector
Dominguez hits Arroyo over 'scandalous' China deals
'I don't have to mention the names, I'll just mention some initials. ZTE, for instance,' says Finance Secretary Carlos Dominguez III
To tame inflation, agriculture must improve – economic managers
Economic managers urge the Department of Agriculture to invest in modern farming tools to improve farmer productivity
Philippines to meet budget deficit target in 2018, says DOF
The Bureau of the Treasury says the year-to-date fiscal gap stands at P438.1 billion of the P523.6-billion target cap
