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The Department of Finance is strongly urging Congress to immediately pass the Tax Incentives Management and Transparency Act (TIMTA) to bring Philippine fiscal policy into the 21st century and attract more companies to do business.

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The Department of Finance (DOF) has expressed reservations over the inclusion of mass housing, shipbuilding, iron and steel, and motor vehicle manufacturing in the lists of industries qualified for fiscal and non-fiscal incentives under the 2013 Investment Priorities Plan (IPP).

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                    [Title] => Phl a good candidate for upgrade
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The Philippines has pitched for an investment-grade status from Standard & Poor’s Ratings Services (S&P) whose diligence visit to the country early this week was described by officials as “very positive.”

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                    [Title] => Government to require mining firms to publish revenue payments
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The Aquino administration plans to require mining companies and other extractive industries to publish the revenues they pay the government, a ranking finance official said.

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                    [Title] => DOF to push for mining revenue sharing scheme
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The Department of Finance (DOF) will work on the passage of the fiscal incentives measure and the legislation of the mining revenue sharing scheme in 2013 after successfully pushing for the sin tax bill this year, officials said.

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                    [Title] => New sin tax seen to improve Pinoys' health, Phl finances
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Finance Secretary Cesar Purisima said that passing the original Finance-backed version of the sin tax measure would go a long way in improving the country’s health and fiscal situation as he reiterated his pitch for the passage of a new excise tax bill on alcohol and cigarettes.
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                    [Title] => Fiscal authorities seek Moody's rating upgrade
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                    [Title] => WB stresses need to raise Phl excise tax rates
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The World Bank stressed the need to raise the country’s excise tax rates, saying that the current rates are far lower than the rates in neighboring countries.
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                    [Title] => Special Report: The problem with the GOCCs
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Running on a treadmill that is moving faster and faster is how Finance Secretary Cesar Purisima describes the work that needs to be done to fix the country’s fragile fiscal position.
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FINANCE UNDERSECRETARY JEREMIAS PAUL JR.

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                    [Title] => Government to require mining firms to publish revenue payments
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                    [DatePublished] => 2012-02-24 00:00:00
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                    [Title] => Special Report: The problem with the GOCCs
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abtest