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News and Events

Coming Soon: An Online Payment Gateway for Gov’t Transactions

The Department of Finance is preparing to roll out PHPay, which aims to improve ease of doing business

The Department of Finance (DOF) has announced that it will soon roll out PHPay, an online payment system that will facilitate digital transactions across various government agencies.“[It] will cover the development of a payment gateway and a payment ledgering management system for ...

by Lorenzo Kyle Subido  | April 04, 2018 04:00:00
News and Events

Why is the PH Gov’t Turning to Jack Ma’s Ant Financial to Lower Remittance Costs for OFWs?

The new Overseas Filipino Bank could be the platform for Ant Financial’s low-cost mobile payment tech

The Department of Finance (DOF) announced on Thursday, February 8, that they are looking to tap Chinese tycoon and Alibaba founder Jack Ma’s Ant Financial Services Group to lower remittance costs for overseas Filipino workers. Ant Financial is Alibaba’s financial technology (fintech) ...

by Pauline Macaraeg  | February 12, 2018 10:00:00
News and Events

Are You One of the 943,967 Taxpayers Expected to Earn Higher Take Home Pay Under TRAIN Law?

The extra cash may help offset price increases because of higher taxes on goods and services

One of the biggest winners under the Tax Reform for Acceleration and Inclusion (TRAIN) Law which took effect Jan. 1, 2018 were employees earning Php250,000 and below a year because they no longer have to pay any income tax. They number some ...

by Elyssa Christine Lopez  | February 09, 2018 09:00:00
News and Events

DOF Begins Testing Online Platform That Eases Trading with Other ASEAN Countries This Month

TradeNet will be pilot tested by five Bureau of Customs-approved exporters this month

The Department of Finance (DOF) will start testing this month TradeNet, a platform that will allow Filipino businesses importing from and exporting to other member countries of the Association of Southeast Asian Nations (ASEAN) to apply for the necessary permits through a ...

by Lorenzo Kyle Subido  | February 05, 2018 06:00:00
News and Events

Gov’t to Tap Jack Ma to Help Craft Strategy to Speed Up Digital Shift for Micro and Small Businesses in PH

Finance secretary and other top officials to meet Alibaba founder on Feb. 1

Finance Secretary Carlos Dominguez is set to meet with Alibaba founder and Chinese billionaire tycoon Jack Ma in Hangzhou, China for discussions on financial regulations in the midst of e-commerce growth on February 1.“We will look at the financial regulations in China ...

by Elyssa Christine Lopez  | January 29, 2018 05:00:00
News and Events

Planning Ahead: Want to Know How Much Estate Taxes Your Heirs Will Pay Under TRAIN Law?

The new law cuts the tax on inherited assets and simplifies the process of computing it

Among the many taxes revised by the Tax Reform for Acceleration and Inclusion or TRAIN law, which officially took effect at the start of 2018, is the estate tax. It’s the government’s cut on inheritance or the transfer of assets belonging to ...

by Lorenzo Kyle Subido  | January 19, 2018 10:00:00
News and Events

After Telling PLDT to Hire 8,720 Contractuals, Who are DOLE's Next Targets?

The labor department is prioritizing industries based on workers’ complaints

The Department of Labor and Employment (DOLE) has its sights on restaurant chains, retailers, hospitals and hotels in checking widespread violations of the agency’s regulations against “labor-only” contracting practices, according to Secretary of Labor Silvestro Bello III.Last March, DOLE issued Department Order ...

by Cherrie Regalado  | July 27, 2017 11:00:00
News and Events

Cash Transfers for the Poor, Tax Cuts for the Middle Class and Tax Hikes for the Very Rich

Is the Duterte administration’s first tax reform package equitable enough?

 As with most government policies, the impact of the Duterte administration’s proposed first tax reform package on households depends to a large extent on their income level.Called the Tax Reform Acceleration and Inclusion (TRAIN) Act, the proposed tax measure was approved on ...

by Entrepreneur Staff  | June 19, 2017 03:00:00
News and Events

Business has a future in the Duterte administration ”" DBM Sec. Diokno

There’ll be deficits but it’s okay, says budget chief to investors

For both beginning and veteran investors and entrepreneurs, a common question raised nowadays, especially in conferences and seminars, is “Is this the right time to do business?” especially with the ebb and flow of investments and the questionable stability of the national ...

by Jerricho Reynaldo  | October 16, 2016 03:00:00
News and Events

The first 100 days of the government's entrep agency

Department of Trade and Industry reports programs, earnings

As the President crossed his 100-day mark in office, the government agency tasked to look after the interest of micro, small and medium enterprises is also under the lens. How has the Department of Trade and Industry carried out its mandate to ...

by Entrepreneur Staff  | October 11, 2016 08:00:00
News and Events

Finance officials defend the peso: It is ”?"very strong”

DOF, BSP say peso’s drop in value versus the dollar will raise worth of remittances, exports

Despite falling to its lowest value in seven years, the Philippine peso remains “very strong”, as local finance officials assert that the drop will even be helpful in raising the value of dollar remittances and the competitiveness of exported products.The Department of ...

by Entrepreneur Staff  | October 04, 2016 12:00:00
News and Events

Davao poised to be the next business hub

Department of Finance identifies Davao, Mindanao as growth areas

 Finance Secretary Carlos Dominguez III urged entrepreneurs and business executives to “innovate and create new products,” calling the next six years of Duterte administration as the “golden age” for entrepreneurship.“As business opportunities present themselves, it is for you the entrepreneurs to seize ...

by Elyssa Christine Lopez  | August 22, 2016 07:00:00
News and Events

Kick start your day, May 24: Department of ICT law signed

And incoming and outgoing PH finance chiefs meet to ensure smooth transition.

DICT law signedThirty-six days before he steps down from office, President Benigno S. Aquino III signed on Monday, May 23,  the Republic Act 10844 creating the Department of Information and Communications Technology (DICT)—a long awaited law that was thought would never be ...

by Entrepreneur Staff  | May 24, 2016 08:00:00