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President Duterte’s chief economic manager justified the multi-trillion peso borrowings for the year, citing the national government needed to rely on financing to the bridge the widening gap between revenues and expenditures.

There would be no new, or higher, taxes in the remainder of President Rodrigo Duterte’s term, which will end in 2022, the Department of Finance (DOF) announced on Tuesday (June 15).

The Department of Energy (DoE) on Monday reiterated its previous pronouncement that the National Grid Corporation of the Philippines (NGCP) should comply with its obligations and reduce its transmission fees if the latter is keen on helping consumers.

A unique project being undertaken by the Department of Science and Technology (DOST) will determine any positive effects on aging wine using toasted barrels made from local trees.

The Bangko Sentral ng Pilipinas (BSP) has allowed Tonik Digital Bank and UNObank to operate as digital banks, bringing to three the number of financial companies in the new bank classification.

The Bangko Sentral ng Pilipinas (BSP) plans to transfer its mint and production facility to a new complex at New Clark City in Capas, Tarlac – better than the existing Security Plant Complex in Quezon City – by second quarter of 2022.

Factory output recorded a 162.1% growth in April due to low-base effects even with the closure of an oil refinery that dampened domestic manufacturers’ total production volume.

Countries need to invest billions of pesos in protecting and caring for nature to avoid another global pandemic, according to biodiversity financing strategist BIOFIN Philippines, adding that these investments can also help generate revenues.

The Department of Finance is not changing its decision allowing the Bureau of Internal Revenue (BIR) to impose higher income tax on private schools, adding that the BIR regulation can only be changed by the Supreme Court or by amending the Tax Code.

Senators are strongly appealing to the Bureau of Internal Revenue (BIR) to reconsider increasing the income tax of private schools from 10% to 25% – a whooping 150% increase.