Bureau of Treasury awards full P20 billion on offer for T-bonds
THE Bureau of the Treasury (BTr) has awarded the full P20 billion on offer for reissued 10-year Treasury…
Fully digital Overseas Filipino Bank up and running mid-2020–LBP
THE Overseas Filipino Bank (OF Bank) is expected to run as a fully digital bank by mid-2020, with…
Reforms in property valuation could net local govts P12.6B
LOCAL government units (LGUs) stand to earn P12.6 billion in real property taxes if they will all adopt…
Dominguez to Congress: Pass ‘sin’ tax hike first as ‘UHC train leaving’
FINANCE Secretary Carlos G. Dominguez III is lobbying Congress to first pass the set of laws focusing on…
DOF’s Dominguez sees domestic consumption, slower inflation fueling over 6% growth in H2
Finance Secretary Carlos G. Dominguez III is hopeful that the economic growth of the country could hit the…
LandBank’s net income up 36% to P10.58B in H1
THE Land Bank of the Philippines (LandBank) has reported a net income of P10.58 billion for the first…
‘Giving TIN to alien workers required by PHL tax code’
THE Department of Finance (DOF) said on Thursday the issuance of tax identification numbers (TINs) for foreign nationals…
Customs seizes smuggled agri produce worth P24 million
The Bureau of Customs-Manila International Container Port (BOC-MICP) has seized five shipments of agricultural commodities from China estimated…
P123.4 billion TDF tenders signal liquidity is still in the market
TENDERS made to the Bangko Sentral ng Pilipinas (BSP) term deposit facility (TDF) of P123.414 billion showed that…
Sun Life uses ‘Kaakbay’ video series to reach goal of 5 million clients by 2020
SUN Life Financial Philippines Inc. (Sun Life) is looking to its video campaign, the “Kaakbay” series focusing on…
BIR sees big jump in Pogo income tax collection in August
The Bureau of Internal Revenue (BIR) is expecting a bigger jump on withholding tax collections from employees of…
DOF: Tax perks in 2015-2017 gave 3,150 firms P1.12 trillion
THE Philippine government gave away an estimated P1.12 trillion in tax incentives and exemptions to around 3,150 companies…
Peso 2nd top performer in Southeast Asia–D.O.F
THE Department of Finance (DOF) said the Philippine peso, which appreciated by 2.82 percent in the January-to-July period,…
DOF eyes options to recoup P42-billion investment in UCPB
THE Department of Finance (DOF) said it is looking at other options to recover the government’s investments, estimated…
Slashed RRR, looming rate cuts lure investors to T-bills
TENDERS for the Treasury bills (T-bills) were almost six times oversubscribed at P87.1 billion as investors expect the…
4-mo SSS sickness benefit payouts hit P984M
MEMBERS of the Social Security System (SSS) received P984.42 million in sickness benefit in January to April, 12.45…
BIR gets P200M from 6 ‘Pogo’ firms
THE Bureau of Internal Revenue (BIR) has collected an initial P200 million from six companies working in the…
Finance chief: Tax packages must be approved before 2021
FINANCE Secretary Carlos G. Dominguez III wants lawmakers to approve the remaining packages of the Comprehensive Tax Reform…
Revenue collection goal of BIR, BOC: P3.3 trillion in 2020
THE Bureau of Internal Revenue (BIR) and the Bureau of Customs—the main collection agencies of the government—are targeting…
IC: Singaporean insurer to get license this year
Singapore Life Pte. Ltd. may soon open shop in the country as the Insurance Commission (IC) announced the…
Pagcor gaming revenues hit P36.566 billion in January-June
THE Philippine Amusement and Gaming Corp. (Pagcor) reported that its gross gaming revenues (GGR) for the first half…
Insurance groups link up to lobby IC to keep capitalization at P900 million
THE Philippine Life Insurance Association Inc. (Plia) has revealed that it will be working with the Philippine Insurers…
Government fully awards debt papers ahead of Fed meeting
The Bureau of the Treasury (BTr) has awarded the full P20 billion on offer for 20-year Treasury bonds…
Bureau of the Treasury targets $750 million from samurai bonds
THE Bureau of the Treasury (BTr) has reported that the Philippine government has launched its samurai bonds bearing…
BOC may start audit of rice traders next month–official
The Bureau of Customs (BOC) said it is ready to start its audit of rice traders next month…
Pagcor treads slowly on ‘takeover’ of PCSO
THE Philippine Amusement and Gaming Corp. (Pagcor) said on Monday it will have to review first the system…
DOF to Congress: Higher tax on alcohol to boost UHC fund
THE Department of Finance (DOF) called on the 18th Congress to pass this year a measure that will…
SSS’ Jan-May pension outlay increases 8.43% to P62.19B
The Social Security System (SSS) has reported a disbursement of P62.19 billion to its 2.5 million pensioners for…
IC puts Loyola Plans on conservatorship
THE Insurance Commission (IC) has placed Loyola Plans Inc. under conservatorship, with the company unable to comply with…
Gloria Macapagal-Arroyo touts benefits of Belt and Road Initiative for Duterte’s ‘build, build, build’
Former President of the Philippines Gloria Macapagal-Arroyo on Friday said the Philippines will benefit from the Belt and…
Higher tobacco excise tax signed into law
THE Department of Finance (DOF) confirmed on Thursday that President Duterte has signed into law the measure further…
Issuance of Pogo workers’ TIN ‘pretty fast’
THE Bureau of Internal Revenue (BIR) is fast-tracking the processing of taxpayer identification numbers (TIN) for foreign nationals…
SSS vows to hasten digitalization process
THE Social Security System (SSS) has vowed to hasten the digitalization of its core and business processes to…
DOF chief to Kyushu businessmen: Invest in steel, cement sectors
The Department of Finance (DOF) has invited businessmen from Japan’s Kyushu Economic Federation (Kyukeiren) to take part in…
Agriculture accounts for biggest chunk of LandBank loan portfolio–official
LOANS extended by the Land Bank of the Philippines to the agriculture sector as of June reached P177.32…
DOF asks Congress: Pass other tax reforms
THE Department of Finance (DOF) urged lawmakers on Tuesday to consider the President’s call to pass the remaining…
BAP to raise cyber- security awareness
THE Bankers Association of the Philippines (BAP) has launched an online campaign aimed at raising public awareness on…
BOC destroys cigarette-making machines, confiscated goods
THE Bureau of Customs (BOC) destroyed on Tuesday a dozen units of cigarette-making machines, more than 1,000 master…
January to June deficit at P42.6 billion, down 78% from 2018–BTr
THE national government reported a budget deficit of P42.6 billion for the first six months of the year—a…
Government orders LGUs to charge standard fees for services
Finance Secretary Carlos G. Dominguez III and Interior Secretary Eduardo M. Año signed a joint circular ordering local…
Bureau of the Treasury fully awards T-bills on market convergence
THE Bureau of the Treasury (BTr) has awarded the full P15 billion on offer for Treasury bills (T-bills)…
Pru Life on track in launching asset management company to offer clients more options
PRU LIFE UK has reported that it is on track to launch its asset management company before the…
Sona wish list: Changes to Insurance Code
AMENDMENTS to the country’s Insurance Code should be billed as a priority measure for the 18th Congress in…
IRR signed for law on Dept of Human Settlements
THE country’s worsening problem of homelessness and lack of access to shelter opportunities is envisioned to soon be…
DOF seeks higher taxes for e-cigarettes, alcohol
THE Department of Finance (DOF) wants lawmakers to impose higher taxes on electronic cigarette (e-cigarettes) and alcoholic beverages.…
3 years after signing of law, BOC orders registration of third party
THE Bureau of Customs now requires third parties who transact with the bureau on behalf of other entities…
‘Fake’ BOC employees nabbed in sting operation
The Bureau of Customs has reported that two persons allegedly masquerading as employees of the bureau were apprehended…
SSS sets guidelines in giving unemployment insurance
THE Social Security System (SSS) has issued a circular embodying the implementing guidelines for the payment of unemployment…
Government earns P142.6 million from prime Makati property–D.O.F.
THE government has earned P142.6 million from the Mile Long property in Makati City since it took over the…
RRR cut boosts demand for 7-year T-bonds
THE Bureau of the Treasury (BTr) awarded the full P20 billion for reissued seven-year Treasury bonds (T-bonds) on…
Firms urged to apply for condonation program under S.S.S.
THE Social Security System (SSS) is encouraging delinquent employers to avail themselves of its Contribution Penalty Condonation Program,…
PSALM sends 14 firms final demand for P1.9-billion payment
THE Power Sector Assets and Liabilities Management Corp. (Psalm) has sent out final letters of demand for payment…
Insurance Commission issues HMO guidelines for medical coverage of HIV patients
The Insurance Commission (IC) has issued underwriting guidelines for health maintenance organization (HMOs) in line with the assessment…
ING Bank’s economist Mapa sees 50-bps rate cut in 3rd quarter
ING Bank Manila sees a possible rate cut from the Bangko Sentral ng Pilipinas (BSP) during the third…
OFW remittances in January to May hit $13.7 billion
PERSONAL remittances made by Filipinos working abroad amounted to $2.9 billion in May this year, pushing remittances to…
Group seeks recall of BOC order allowing operation of unlicensed brokers
AN order by the Bureau of Customs (BOC) allowing non-Customs brokers to practice the profession has been described…
DOF to hold consultations on IRR of Personal Property Security Act
The Department of Finance (DOF) is encouraging stakeholders to review the draft implementing rules and regulations (IRR) of…
Satellite govt offices in ‘pogo’ hubs pitched
GOVERNMENT agencies have been invited to set up satellite offices at the Philippine Offshore Gaming Operators (Pogo) hubs,…
Govt disburses P27.4 billion to pay mainly for debt interest
THE national government disbursed P27.407 billion in May for the payment of some of its debt, with interest…
Promoting insurance among items stakeholders want included in Sona
The promotion of insurance as mitigation tools in government’s disaster risk reduction is a measure that industry stakeholders…
B.O.C. to probe January-June rice imports
THE Bureau of Customs (BOC) said on Thursday that it will look into rice imports that arrived in…
BOC ‘strike team’ guards vs waste from abroad
THE Department of Finance (DOF) has ordered the Bureau of Customs (BOC) to look into the creation of…
HMO group Ahmopi backs IC order stopping Caritas Health from selling
THE Association of Health Maintenance Orgnaizations of the Philippines Inc. (Ahmopi) has welcomed the Insurance Commission’s issuance of…
LandBank to acquire 49% of Philippine Dealing System before end of 2019
The Land Bank of the Philippines (LandBank) is eyeing to acquire a 49-percent stake in Philippine Dealing System…
New book with TRAIN law changes in tax code seen as ‘bible’
A SPECIALTY book on the country’s internal revenue code as amended by the Tax Reform for Acceleration and…
Yvonne Yuchengco named new Malayan board vice chairman
THE Malayan Insurance Co. Inc. (Malayan Insurance) board of directors has announced the appointment of its new vice…
Customs bureau reshuffles collectors
The Bureau of Customs (BOC) has reshuffled its collectors in the country’s major ports. In a statement issued…
China to block exports of illegal cigar makers
THE Bureau of Customs (BOC) has received a commitment from its counterpart agency in China for help in…
BTr awards full P15 billion on offer in T-bills auction
THE Bureau of the Treasury (BTr) has awarded the full P15-billion on offer during the Treasury bills (T-bills)…
Natl govt borrowings in May hit P126.086B
The national government’s borrowings for May amounted to P126.086 billion, posting an increase of 117.5 percent from the…
BIR: Tax on e-cigarettes same as lit sticks
THE Bureau of Internal Revenue (BIR) has emphasized that the taxes it slaps on electronic cigarettes (e-cigarettes), currently…
Reforms to sustain PHL’s gains pushed
The private sector is asking the government to sharpen the competitiveness of the country’s future work force, ensure…
Govt to start collecting safeguard duty of P3/kg on imported ceramic tiles
The Bureau of Customs (BOC) has issued a memorandum order that imposes a provisional safeguard duty of P3…
Insurance firm eyes vehicle to park money for long term
Allianz PNB Life Insurance Inc. (Allianz PNB) is keener to invest in long-term infrastructure projects to enable life…
DBM to GOCCs: Check PhilHealth share funds
The Department of Budget and Management (DBM) is reminding government agencies and government-owned and -controlled corporations (GOCCs) to…
GSIS revokes resolution to sell North Harbor lot
The board of the Government Service Insurance System (GSIS) has moved to revoke its authorization on the sale…
Rice tariffs collection at P5.9 billion
The Bureau of Customs (BOC) collected P5.9 billion in tariffs from some 1.43 million metric tons (MMT) of…
Agents raid printer of fake tobacco tax stamps, labels
GOVERNMENT agents on Wednesday raided a factory that prints fake tax stamps and labels used for fake tobacco…
Government starts taxing, sets database of alien labor
THE Bureau of Internal Revenue (BIR) and Department of Labor and Employment (DOLE) are working on developing an…
BOC to MDM traders: Tell us your concerns
THE Bureau of Customs (BOC) has insisted that its collection of proper duties and taxes on shipments of…
Government’s May debt up 15.8% to P7.9 trillion
THE national government’s (NG) outstanding debt for May this year amounted to P7.915 trillion, increasing by 15.8 percent…
In defense of data: Cyber insurance now top of mind for PHL businesses
THERE’S a ghost in your machine; and it’s far from Gilbert Ryle’s interpretation of Descartes’s work. However, there’s…
DBM to defer sending 2020 budget to House
LOOKING to ensure close coordination with lawmakers in the passage of the 2020 General Appropriations Act, the Department…
DOF sets rules on LGU taxes on professionals
THE Department of Finance (DOF) has issued guidelines on the payment and collection of taxes by local government…
GSIS chief Aranas quits post
THE Government Service Insurance System (GSIS) confirmed on Tuesday that President and CEO Jesus Clint O. Aranas has…
Investors troop to three-year T-bonds on strong liquidity
THE Bureau of the Treasury (BTr) has awarded the full P20 billion on offer for three-year Treasury bonds…
DOF: Pinoys support tax reform package
FINANCE Secretary Carlos G. Dominguez III believes Filipinos support the tax-reform package, citing the victory of pro-administration lawmakers…
GOCC dividends seen to breach P50-B mark
THE Department of Finance (DOF) expects the dividends remitted by government-owned and -controlled corporations (GOCCs) for 2019 to…
BOC firm on collecting additional MDM tariff
THE Bureau of Customs (BOC) maintained that it followed the law in demanding more money from traders that…
NG subsidies to GOCCs up 36.63% in May–BTr
Subsidies extended by the national government (NG) to government-owned and -controlled corporations (GOCCs) in May jumped by 36.63…
TMAP urges Congress to ease bank secrecy law restrictions
The Tax Management Association of the Philippines Inc. (TMAP) is calling on the 18th Congress to repeal the…
Insurance industry net income up 46% in Q1 as penetration dips
The Insurance Commission (IC) has reported that the local insurance industry’s net income for the first quarter of…
Brokers urge BOC to review green lane rule
THE Chamber of Customs Brokers Inc. (CCBI) has requested the Bureau of Customs (BOC) to review its implementation…
‘Congress, economic team must avert veto’
LOOKING to avoid the passage of legislation that could unduly upset the fiscal balance and the resulting veto…
Head of group’s insurance tech committee plans to onboard more services
THE new chairman of the insurance technology (InsurTech) committee of the Financial Technology Philippines Association aims to foster…
Chinese among 6 nabbed for owning cigarette labeling, packaging units
FIVE Chinese nationals and a Filipino who allegedly own five machines used for printing fake cigarette labels and…
GSIS bent on selling harbor property valued at P33.6 billion
THE Government Service Insurance System (GSIS) has reiterated its plan to sell its Manila North Harbor property, despite…
Tenders for BSP TDF hit P31.4 billion
INVESTORS in the Bangko Sentral ng Pilipinas’s (BSP) term deposit facility (TDF) proved to be liquid as tenders…
‘PHL growth faster than regional powerhouses’
GROWTH of the Philippine economy will be faster than other regional economic powerhouses under the Duterte administration, the…
Government’s local borrowings down to P230 billion for 3rd quarter
THE national government’s local borrowing program for the third quarter of 2019, at P230 billion, is lower by…