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Mary Grace Padin
Mary Grace Padin
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BOC posts lower collections amid COVID-19
by Mary Grace Padin - June 2, 2020 - 12:00am
Taxes and duties collected by the Bureau of Customs declined in the first four and a half months amid a slowdown in economic activity due to the coronavirus disease 2019 or COVID-19 pandemic.
P1 billion fake cigarettes, tax stamps seized
by Mary Grace Padin - June 1, 2020 - 12:00am
Authorities seized P1 billion worth of fake cigarettes and tax stamps during a raid on a factory in Alicia, Isabela on Saturday.
Pre-need industry incurs losses in 2019
by Mary Grace Padin - May 31, 2020 - 12:00am
The pre-need industry suffered a net loss of P718.6 million in 2019 as companies posted higher liabilities despite an increase in sales, the Insurance Commission said Friday.
Sin tax collections down in 4 months
by Mary Grace Padin - May 29, 2020 - 12:00am
The government’s excise tax collections from tobacco and alcoholic products declined in the first four months following the imposition of liquor bans and movement restrictions due to the coronavirus pande...
P354 billion released for anti-COVID measures
by Mary Grace Padin - May 29, 2020 - 12:00am
The national government has released P353.86 billion so far to state agencies for the implementation of measures in response to the coronavirus disease 2019 pandemic, the Department of Budget and Management said...
Government targets P170 billion from securities offer in June
by Mary Grace Padin - May 28, 2020 - 12:00am
The government is targeting to raise P170 billion next month through the issuance of government securities to the domestic debt market, according to the Bureau of the Treasury.
Budget deficit swells in 4 months
by Mary Grace Padin - May 28, 2020 - 12:00am
The national government’s fiscal position swung to a deficit in April as disbursements doubled, while revenues posted a double-digit contraction amid the coronavirus disease 2019 or COVID-19 pandemic, according...
Infrastructure spending declines in Q1
by Mary Grace Padin - May 27, 2020 - 12:00am
Public spending on infrastructure declined in the first quarter as the implementation of community quarantine caused delays in the construction of projects, according to the Department of Budget and Management
NG borrowings climb to P657 billion in Q1
by Mary Grace Padin - May 26, 2020 - 12:00am
Government borrowings rose by 5.31 percent to P656.72 billion in the first quarter from P623.6 billion a year ago due to the issuance of euro-denominated securities and domestic retail bonds during the period,...
GOCC subsidies surge to P36.15 billion in 1st quarter
by Mary Grace Padin - May 25, 2020 - 12:00am
Subsidies extended by the government to state-run corporations almost quadrupled in the first quarter due mainly to increased support to the National Electrification Administration and Light Rail Transit Author...
Proposed 2021 budget set at P4.335 trillion
by Mary Grace Padin - May 25, 2020 - 12:00am
The Department of Budget and Management is proposing a P4.335 trillion cash-based budget for next year, with the government set to realign its priorities in light of the “new normal” environment brought...
Tax on snacks eyed anew
by Mary Grace Padin - May 25, 2020 - 12:00am
Lawmakers may consider imposing taxes on junk foods to discourage the consumption of the unhealthy products, while generating additional revenues for the government, according to a state think tank.
DOF studies proposal to tax digital economy
by Mary Grace Padin - May 25, 2020 - 12:00am
The Department of Finance is studying “very carefully” Albay Rep. Joey Salceda’s proposal to tax the digital economy, a measure seen more crucial now with more Filipinos seen shifting toward online...
Overseas Filipino Bank opens next month — DOF
by Mary Grace Padin - May 23, 2020 - 12:00am
The state-run Overseas Filipino Bank is expected to be fully operational as a digital bank by the end of June, according to the Department of Finance.
Government secures $4.858 billion loans for COVID response
by Mary Grace Padin - May 23, 2020 - 12:00am
The government has secured $4.858 billion in loans and grants from foreign lenders and multilateral institutions to finance its coronavirus disease 2019 response, according to the Department of Finance
No more tax deadline extension — BIR
by Mary Grace Padin - May 23, 2020 - 12:00am
Even with quarantine measures lasting until the end of the month, the Bureau of Internal Revenue will not grant another extension on tax deadlines, to finally enable the government to raise revenues for the coronavirus...
IC sets rules on dividend declarations
by Mary Grace Padin - May 22, 2020 - 12:00am
The Insurance Commission has tightened the rules on the declaration of dividends for 2020 to ensure that its regulated entities maintain sufficient capital buffers.
LGUs to get higher IRA next year
by Mary Grace Padin - May 21, 2020 - 12:00am
Local government units are set to receive P695.49 billion in internal revenue allotments next year to support the delivery of their programs and projects, according to the Department of Budget and Management.
Tax collections down 21.5% to P706.8 billion in Jan to April
by Mary Grace Padin - May 21, 2020 - 12:00am
Revenues generated by the Bureau of Internal Revenue and the Bureau of Customs dropped in the first four months following the imposition of strict quarantine measures as well as the extension of the deadline for...
Debt-to-GDP ratio eases to 41.8% in 1st quarter
by Mary Grace Padin - May 21, 2020 - 12:00am
The share of the country’s debt to its gross domestic product slightly eased to 41.8 percent in the first quarter, but may increase by the end of the year as the government continues its fight against the coronavirus...
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