Tag: Department of Finance
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January Sees Surge in Tax and Customs Revenue, Finance Secretary Applauds Efforts
In a notable financial uptick, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) reported increased collections for January 2025, according to the Department of Finance (DOF). The BIR’s collections soared to PHP350.6 billion, marking a 13.7% increase from the previous year’s January figures. Similarly, the BOC saw its collections rise by…
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Finance Department to Guide DBP to Enhanced Financial Stability
MANILA – The Department of Finance (DOF) is set to take a more active role in guiding the Development Bank of the Philippines (DBP) towards greater financial stability, according to Finance Secretary Ralph Recto. The proposed changes to the DBP’s charter, recently passed in both houses of Congress, will enable the DOF to better support…
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Senator Urges Stronger Action Against Smugglers Amid Low Conviction Rates
In a recent Senate hearing, Senator Sherwin Gatchalian expressed frustration over the low rate of convictions for smuggling and illicit trade, urging the Department of Finance (DOF) and its agencies to enhance their efforts. Gatchalian emphasized the need for the DOF, along with the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC),…
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Four Towns in Davao Occidental Upgraded to First-Class Status
In a recent announcement from Davao City, the province of Davao Occidental revealed that four of its towns have achieved first-class municipality status. Malita and Jose Abad Santos have successfully maintained their first-class status, while Don Marcelino and Santa Maria have been newly elevated to this prestigious category. Previously, Santa Maria was classified as a…
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