Department of Finance

Also known as DoF

The Department of Finance (DOF) in the Philippines has been implementing various measures to simplify tax incentives for education investments and enhance asset protection through collaboration with other departments. On April 17, new revenue regulations took effect to streamline access to tax benefits under existing laws, aligning with President Ferdinand R. Marcos Jr.'s Philippine Development Plan 2023-2028. Additionally, the DOF has been working on digital transformation and cybersecurity initiatives to attract foreign investments and boost economic growth in the country.

This is an AI-generated summary based on recent coverage.
Last updated at April 23, 2025.

Recent stories about DoF

DOF urges IFIs to boost support for EMDEs amid global challenges

The Philippine government has called on international financial institutions (IFIs) to bolster their support for emerging markets and developing economies like the Philippines in light of increasing global challenges.
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DOF simplifies tax incentives for ed and skills dev

The Department of Finance has released Revenue Regulations No. 13-2025 to simplify tax incentives for private entities investing in education and human capital development.
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Lawyers file SC petition for vaccine procurement info

A group of lawyers, led by former solicitor general Jose Anselmo Cadiz, filed a petition with the Supreme Court on Thursday to request government agencies to disclose information about the procurement of COVID-19 vaccines from 020 to 2022.
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Philippines' March inflation hits four-year low of 1.8%

The Philippines' inflation rate continued its decline in March 2025 to reach a four-year low of 1.8%, according to data from the Philippine Statistics Authority (PSA).
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Recto defends PhilHealth fund transfer before SC

Finance Secretary Ralph Recto defended the transfer of unused PhilHealth funds and other government-owned corporations' funds into the national treasury during an appearance before the Supreme Court on Wednesday.
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PhilHealth transfers P89B to natl treasury, sparks const. debate

The transfer of funds from PhilHealth to the national treasury has sparked debates over its constitutionality and the government's handling of unprogrammed appropriations.
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IMF urges DOF to adopt CAEM for better macroeconomic forecasting

The International Monetary Fund (IMF) has urged the Department of Finance (DOF) to enhance its macroeconomic forecasting system, citing a lack of comprehensive framework for consistent analysis and forecasting.
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Steam implements 12% VAT on June 1, affecting Filipino gamers and online platforms

Starting June 1, Steam will implement a 12% value-added tax (VAT) in the Philippines following President Ferdinand Marcos Jr.'s signing of Republic Act 12023 into law last October.
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DOF releases draft IRR for tourist VAT refunds

The Department of Finance released draft implementing rules and regulations for Republic Act 12079, which establishes a VAT Refund System (VRS) for non-resident tourists, including dual citizens who enter the country using their foreign passport.
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BOC to file economic sabotage case over P202M misdeclared frozen mackerel shipment

The Bureau of Customs (BOC) announced on Friday its intent to file an economic sabotage case and other legal actions against individuals involved in the misdeclaration of a P202 million shipment of frozen mackerel.
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