‘Covid-19 forced over 11,000 firms to close’

Credit to Author: Anna Leah E. Gonzales| Date: Tue, 06 Oct 2020 16:39:07 +0000

The community quarantines imposed to curb the spread of the coronavirus disease 2019 (Covid-19) in the country have forced more than 11,000 businesses, many of these in the arts, to shutter for good. This is according to the results of a survey conducted by the World Bank, National Economic and Development Authority (NEDA), and Department […]

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BoC steps up drive vs rice smuggling

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 22 Sep 2020 16:25:40 +0000

The Bureau of Customs (BoC) said it continues to step up its campaign against rice smuggling even in the middle of the coronavirus disease 2019 (Covid-19) pandemic. In a statement on Tuesday, the Department of Finance said that Customs Commissioner Rey Leonardo Guerrero gave this assurance to Finance Secretary Carlos Dominguez 3rd during a recent meeting. […]

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Govt collects P131B through fuel marking

Credit to Author: Anna Leah E. Gonzales| Date: Mon, 21 Sep 2020 16:22:29 +0000

The national government collected more than P131 billion in duties and taxes through its fuel marking program, data from the Department of Finance (DOF) showed. Data showed that the P131.17 billion tax take from September 2019 to September 17 this year this year was equivalent to 12.71 billion liters of marked fuel products. Broken down, […]

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BIR, BoC surpass tax collection goals in July

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 06 Aug 2020 16:59:44 +0000

The government’s main revenue-generating agencies exceeded their tax-take targets by single digits last month on improved spending and economic activities, the Department of Finance (DoF) reported on Thursday. At the joint press conference of the members of interagency Development Budget Coordination Committee on Thursday, Finance Secretary Carlos Dominguez 3rd said the Bureau of Customs (BoC) […]

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DoF: Marked fuel items exceed P91B

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 04 Aug 2020 17:55:03 +0000

The value of marked petroleum products under the government’s fuel-marking program amounted to over P91 billion as of end-July, according to the Department of Finance (DoF). Data released by Finance Secretary Carlos Dominguez 3rd on Monday showed that the actual P91.65-billion figure is equivalent to 10.66 billion liters of marked fuel products. Participating companies were […]

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Economy takes ‘one step back’ – Dominguez

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Mon, 03 Aug 2020 16:24:06 +0000

The Philippines economy will have to take “one step back” as Metro Manila and nearby provinces return to a stricter lockdown today. This was what Finance Secretary Carlos Dominguez 3rd told reporters when asked for his reaction on the reimposition of the modified enhance community quarantine (MECQ) in the National Capital Region, Laguna, Cavite, Rizal, […]

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Banks’ resilience cited amid pandemic

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 31 Jul 2020 16:56:39 +0000

The Department of Finance (DoF) on Friday underscored the resilience of the Philippine banking system amid the coronavirus disease 2019 pandemic and its impact. “The Philippine banking system grew faster than nominal GDP (gross domestic product) during the period 2018 to May 2020 despite the pandemic, [because of] sound macroeconomic fundamentals that have boosted bank […]

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Govt, World Bank launch survey to determine Covid impact on households

Credit to Author: Anna Leah E. Gonzales| Date: Thu, 30 Jul 2020 18:22:42 +0000

The National Economic and Development Authority (NEDA), Department of Finance and World Bank on Thursday launched a survey that aims to assess the impact of the coronavirus disease 2019 (Covid-19) pandemic on households. “One of the effective strategies to reduce uncertainty is to obtain accurate and timely information. And this is where these high frequency […]

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Ban on unlisted online sale of ‘sin’ products backed

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 21 Jul 2020 16:57:24 +0000

The Department of Finance (DoF) has secured the full support of the Department of Health (DoH) and the Food and Drug Administration (FDA) for its proposal to ban the unauthorized online selling of so-called sin products. In a statement on Tuesday, the DoF quoted the health and food agencies as saying they would work closely […]

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DoF: EU grants to PH hit 150M euros

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 17 Jul 2020 16:21:03 +0000

The Philippines has so far secured 150 million euros (about P8.44 billion) in grants from the European Union (EU), according to the Department of Finance (DoF). “For the European Union, in total terms, we have ongoing grants in the amount of 150 million euros,” Finance Undersecretary Mark Dennis Joven announced in a briefing on Friday. […]

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