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Government

DTI, DOF INK CREATE IRR AHEAD OF JULY 10 DEADLINE

Finance Secretary Carlos Dominguez III and Trade and Industry Secretary Ramon Lopez have signed the Implementing Rules and Regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, more than two weeks ahead of the 10 July 2021 deadline set under this law. Micro, small, and medium enterprises (MSMEs) will be the […]

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Politics

ALLOT FUNDS FOR ‘MURANG KURYENTE’ ACT – GATCHALIAN

Senator Win Gatchalian is urging the Department of Finance (DOF) to provide sufficient budget and spare taxpayers from being choked by new borrowings to fund next year’s implementation of the Murang Kuryente Act. Gatchalian learned that less than 20 percent or only P8 billion of the P46 billion requested by the Power Sector Assets and […]

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Politics

REJECT CALL FOR RESUMPTION OF POGO OPERATIONS – PANGILINAN

On efforts to resume operations of Philippine Offshore Gambling Operators (POGOs) initiated by administration officials and allies, Senator Kiko Pangilinan lamented the prioritization of the welfare of China in the guise of “boosting state funds” for the fight against COVID-19. Philippine Amusement and Gaming Corporation (Pagcor) Chairman Andrea Domingo recently said she had written President […]

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Politics

PROTECT FILIPINO WORKERS’ JOBS UNDER PROPOSED CITIRA – GATCHALIAN

Senator Win Gatchalian is urging the Department of Finance (DOF) to carefully study how it plans to protect the jobs of thousands of Filipinos if Congress approves the proposed Corporate Income Tax Incentives Reform Act (CITIRA). Gatchalian, vice chairman of the Senate Committee on Economic Affairs, expressed his apprehension on the passage of CITIRA, especially […]

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Politics

ACCELERATED SPENDING NEEDED TO ACHIEVE GROWTH TARGET FOR 2019 — LEGARDA

In today’s committee hearing on the status of implementation of the 2018 budget and the effect of the four-month reenacted budget on the 2019 projected economic growth, Senator Loren Legarda, Chair of the Senate Committee on Finance, said accelerated spending and implementation of government programs are needed to achieve its growth target for 2019. Department […]

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Politics

DOF POSTING LOAN DEALS ON WEBSITE IS A GOOD DECISION – GATCHALIAN

Senator Win Gatchalian lauded the move of the Department of Finance (DOF) to post on its website, for greater transparency, the loan agreements for flagship infrastructure projects signed under the administration of President Rodrigo Duterte. “In the spirit of transparency, mabuti na napagpasyahan ng Department of Finance na maglaan ng espasyo sa kanilang website para […]

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Politics

PAGCOR SHOULD KEEP CLOSE WATCH ON OFFSHORE GAMING OPS IN PH – VILLANUEVA

Senator Joel Villanueva has called on the Philippine Amusement and Gaming Corp. (PAGCOR) to keep a closer watch on companies seeking to run offshore gaming operations in the country as the country grapples with the problem of illegal foreign workers. Villanueva said it appeared that Pagcor merely issues licenses to virtual casinos, formally called Philippine […]

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Politics

CURB OIL SMUGGLING, IMPLEMENT FUEL MARKING SCHEME – GATCHALIAN

Senator Win Gatchalian is urging government to speed up the implementation of the fuel marking scheme under the TRAIN Law (Republic Act No. 10963) to plug revenue leakages. After leading the Senate Committee on Economic Affairs in an inquiry on the potential impact of the proposed suspension of the second tranche of the fuel excise […]

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Politics

TRABAHO BILL SHOULD CREATE JOBS RATHER THAN KILL THEM – ANGARA

Senator Sonny Angara said the Senate committee would not proceed with its deliberation of the TRABAHO bill unless government can present definitive data on the impact on jobs. During a recent senate hearing, Finance Undersecretary Karl Chua insisted that more jobs will be created in the long run under the Tax Reform for Attracting Better […]

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Politics

CREATE TASK FORCE AGAINST INFLATION – GATCHALIAN

Senator Win Gatchalian is pushing for the creation of a multi-agency task force that would be responsible for mitigating the effects of rising inflation in the country. “I think the Department of Finance (DOF) can probably create a task force to address inflation. It can be a multi-sectoral and multi-departmental task force so that we […]