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SSS savings scheme hits P80 billion
The savings scheme of state-run pension fund Social Security System has collected P80 billion from six million members who are looking for additional investment channels......»»
2.4M Dabawenyos working as of Oct 2023
The October 2023 Preliminary Employment report by the Philippine Statistics Authority-Davao Region (PSA-Davao) reveals that 64 percent of the 3.780 million Dabawenyos aged 15 and above are part of the labor force, indicating that 2.42 million individuals are employed. This represents a 1.8 percentage point increase from the previous year. The report also highlights a 97.1 percent employment rate in the Davao Region as of October 2023, with a 2.9 percent unemployment rate, lower than the national average. Despite this, the region still maintains the highest employment rate in the Philippines. Additionally, the report compares employment rates across different regions, with Soccsksargen, Barmm, Central Luzon, CAR, Caraga, Western Visayas, Cagayan Valley, Mimaropa, and Central Visayas surpassing the national average. The Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) records the highest labor force participation rate among 17 regions, while the Zamboanga Peninsula has the lowest rate. The data is collected through the Labor Force Survey (LFS) conducted quarterly and monthly by the PSA central office and its regional statistical services offices. The Davao Region, with nearly 6 million inhabitants, remains the 7th most populous region in the country......»»
IC collects over P500 million fees in 2023
The government collected more than P500 million in registration and supervision fees from insurance firms last year......»»
Plastic makes up 90% of Manila Bay litter — monitoring survey
Around 90% of the 12 million pieces of marine litter collected from Manila Bay's coastline were plastic, a new study revealed, highlighting the urgent need for stricter policy implementation and an integrated marine waste management plan. .....»»
EDITORIAL — Pass-through fees
If the administration wants to tackle inflation and improve ease of doing business, it should scrutinize one of the contributors to high prices particularly of agricultural commodities, and a long-standing complaint of businessmen: pass-through fees collected from delivery trucks......»»
‘9 in 10 Pinoys traveling locally in 2024’
At least nine in 10 Filipinos plan to travel to local destinations this year, and are expected to spend as much as P30,000 for every trip, according to booking platform Klook......»»
Investors swarm T-bond auction
Investors swarmed the latest offering of long-term securities, resulting in slightly lower rates and allowing the government to raise P30 billion......»»
Badoy guilty of indirect contempt for threats vs judge
The Supreme Court has slapped a P30,000 fine against Lorraine Badoy, former spokesperson for the National Task Force to End Local Communist Armed Conflict for indirect contempt over her “vitriolic statements and outright threats” against a judge......»»
SC: Lorraine Badoy guilty of indirect contempt for red tagging judge
MANILA, Philippines — Loraine Badoy-Partosa, former spokesperson of the government’s anti-insurgency task force, has been found guilty by the Supreme Court (SC) of indirect contempt for red-tagging a Manila Regional Trial Court (RTC) judge. Badoy was ordered to pay a fine of P30,000 and warned against repeating the same or similar acts in the future,.....»»
DOF: GFIs can seek extended relief after Maharlika infusion
Government financial institutions Land Bank of the Philippines and Development Bank of the Philippines will likely seek an extension of its regulatory relief following contributions to the country’s sovereign wealth fund......»»
DOF mulls mining tax tweaks for royalties, windfall profits
The Department of Finance is pushing for higher rates and fewer tiers in taxing the extractive sector, but the mining industry argued that the proposed structure would make the sector more uncompetitive......»»
DoF considering IPOs for LandBank, DBP
The Philippine News Agency reported that the Department of Finance, under new Secretary Ralph Recto, is “exploring amendments to the charters of the Land Bank of the Philippines and Development Bank of the Philippines”, which Mr. Recto said could include “their possible public listing, to broaden the local capital market.”.....»»
DOF drops income tax hike for dividend income
The Department of Finance revised the proposed Passive Income and Financial Intermediary Taxation Act to drop a planned increase in the income tax rate for dividend income......»»
Tax credit scam: 5 ex-DOF execs get 8 years
The Sandiganbayan has affirmed the conviction of five former officials of the Department of Finance for graft over the multibillion-peso tax credit scam in the 1990s......»»
DOF limits tax-exempt status for pickup trucks
The Department of Finance is pushing for only one kind of pickup truck to remain tax-exempt as it insists on the removal of special excise treatment on all other types......»»
British Chamber pushes for Anti-Agricultural Smuggling Act, lauds appointment of Recto as DOF Secretary
BCCP Executive Director/Trustee Chris Nelson reiterates support for the passage of the Anti-Agricultural Smuggling Act, one of the key priority legislation under the Marcos administration......»»
Rep. Ralph Recto itinalagang bagong finance secretary
MAY napili na si Pangulong Bongbong Marcos na bagong uupong hepe para sa Department of Finance (DOF). Kinumpirma ng Malacañang na ang itinalagang bagong finance secretary ay ang Deputy Speaker at Batangas Representative na si Ralph Recto. Ayon kay Presidential Communications Office Secretary Cheloy Garafil, nakatakdang manumpa sa pwesto si Rep. Ralph ngayong January 12......»»
10 NPA revolutionary tax collectors in Bukidnon surrender
Ten members of the New People’s Army from a group that forcibly collected money on monthly basis from hapless farmers and merchants turned in 18 assorted firearms and explosives and pledged allegiance to the government in Maramag, Bukidnon on Tuesday......»»
GOCCs’ dividend remittance bumped up to 75 percent of earnings
The Department of Finance has increased the dividends to be collected from state-run firms to up to 75 percent of their earnings as the government looks for more revenues for the country’s development needs......»»
Poised Beermen repel Hotshots for 8th straight win
The San Miguel Beermen remained calm and collected and survived a scare from the Magnolia Hotshots, 98-91, to win their eighth straight game in the PBA Philippine Cup Friday at the Smart Araneta Coliseum......»»