RalphRecto.Ph

DEC

30

2024

Recto: PHP 6.326 trillion national budget for 2025 most powerful tool to deliver the biggest economic benefits to Filipinos, reaffirms DOF’s commitment to work hard in funding it

PRESS RELEASE Finance Secretary Ralph G. Recto has underscored that the PHP 6.326 trillion national budget for 2025 is the government’s most powerful tool to deliver the biggest economic benefits to Filipinos, assuring the Department of Finance’s (DOF) strong commitment to work

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TAG Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Bureau of Treasury (BTr), Department of Finance (DOF), General Appropriations Act (GAA) for 2025, government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), Medium Term Fiscal Program, National Climate Change Action Plan 2011-2028, Philippine Development Plan, President Ferdinand Marcos Jr, Ralph Recto

DEC

27

2024

BIR, BOC ramp up digitalization and strict enforcement initiatives in 2024, drive higher revenue collections

PRESS RELEASE The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) have both ramped up their respective digitalization and strict enforcement initiatives in 2024, which drove higher tax collections for the year. “I commend both the BIR and BOC for their

DEC

16

2024

PBBM admin achieves multiple economic milestones in 2024, drives PH again as one of the fastest-growing economies in Asia

PRESS RELEASE The Marcos Jr. administration has made 2024 a banner year for economic achievements and has once again successfully positioned the Philippines as among the fastest-growing economies in Asia despite global challenges such as geopolitical tensions. “2024 is a year of

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TAG Amendments to the Agricultural Tariffication Act, ASEAN, Bangko Sentral ng Pilipinas (BSP), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), China, CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), Development Budget Coordination Committee (DBCC), E.O. No. 62, Ease of Paying Taxes (EOPT) Act, Excise Tax on Single-Use Plastic Bags, government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), gross national income (GNI), Indonesia, Institute of International Finance (IIF), Macro Poverty Outlook for the Philippines, Malaysia, Medium Term Fiscal Program, Motor Road User's Tax, Package 4 of the Comprehensive Tax Reform Program, President Ferdinand Marcos Jr, Public-Private Partnership (PPP) Code, R&I, Ralph Recto, Rationalization of the Fiscal Mining Regime, Real Property Valuation and Assessment Reform Act. (RPVARA), S&P, Singapore, Value-added Tax (VAT) on Non-Resident, VAT Refund Mechanism for Non-Resident Tourists Act, World Bank (WB)

DEC

10

2024

Philippines and Lao PDR successfully conduct first round of negotiations for a double taxation agreement

PRESS RELEASE The Philippines and the Lao People’s Democratic Republic (PDR) successfully conducted the first round of negotiations for its Double Taxation Agreement (DTA) on December 4-6, 2024 in Luang Prabang, Lao PDR. The Department of Finance (DOF) led the negotiations for

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TAG ASEAN Forum on Taxation, Brunei Darussalam, Bureau of Internal Revenue (BIR), Department of Finance (DOF), Double Taxation Agreement (DTA), Indonesia, Lao People's Democratic Republic, Malaysia, Ralph Recto, Singapore, Thailand, Vietnam

DEC

09

2024

Recto sees stronger economy in 2025 with the enactment of new laws that will boost the tourism industry and local spending, and enhance food security

PRESS RELEASE Finance Secretary Ralph G. Recto is optimistic about the Philippines’ economic prospects in 2025, fueled by the recent enactment of two key laws aimed at boosting the tourism industry and local spending as well as strengthening food security in the country.

SEP

17

2024

Recto thanks House appro panel for endorsing DOF’s P33.75-B budget for 2025 that prioritizes digitalization for efficient tax admin and public service

PRESS RELEASE Recto thanks House appro panel for endorsing DOF’s P33.75-B budget for 2025 that prioritizes digitalization for efficient tax admin and public service Finance Secretary Ralph G. Recto has thanked the House of Representatives’ Committee on Appropriations panel for

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TAG Asian Development Bank (ADB), Bagong Pilipinas, Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Bureau of Local Government Finance (BLGF), Bureau of Treasury (BTr), Central Board of Assessment Appeals (CBAA), Department of Finance (DOF), General Appropriations Act (GAA), House of Representatives, Insurance Commission (IC), Local Governance Reform Project (LGRP), National Tax Research Center (NTRC), People's Survival Fund (PSF), Philippine Tax Academy (PTA), Privatization and Management Office (PMO), Ralph Recto

SEP

12

2024

Recto welcomes Senate concurrence to ratify the PH’s participation in an international tax cooperation convention that will stop tax evasion and avoidance

PRESS RELEASE Finance Secretary Ralph G. Recto has welcomed the passage of Senate Resolution No. 139, concurring with the ratification of the Philippines’ participation in the Convention on Mutual Administrative Assistance in Tax Matters (MAAC), which will help stop tax evasion

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TAG Bureau of Internal Revenue (BIR), Council of Europe, Department of Finance (DOF), Mutual Administrative Assistance in Tax Matters (MAAC, Organisation for Economic Co-operation and Development (OECD), Ralph Recto, Run After Tax Evaders (RATE), Senator Imee Marcos

SEP

10

2024

Recto lauds PH Tax Academy for expanding training programs, urges further scale-up to boost revenue collections for national development

PRESS RELEASE Finance Secretary Ralph G. Recto has commended the Philippine Tax Academy (PTA) for expanding its training programs last year and urged the agency to further scale these efforts to strengthen public personnel’s tax administration capabilities in order to boost

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TAG Bases Conversion and Development Authority (BCDA), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Bureau of Local Government Finance (BLGF), Continuing Professional Development (CPD), Customs Institute (CI), Customs Institute Chancellor Noemi Alcala-Garcia, Customs Institute Vice Chancellor Elizabeth Pableo, Department of Finance (DOF), Development Academy of the Philippines (DAP), Director Ma. Luisa Notario, DOF Undersecretary Maria Luwalhati Dorotan-Tiuseco, Government Owned and Controlled Corporations (GOCC), Internal Revenue Institute (IRI), International Monetary Fund (IMF), Japan Customs Training Institute, Japan International Cooperation Agency (JICA), Korea International Cooperation Agency (KOICA), LGFI Chancellor Ma. Teresa Habitan, Local Government Finance Institute (LGFI), National Tax Agency Japan, National Tax College, National Tax Research Center (NTRC), Philippine Regulation Commission (PRC), Philippine Tax Academy (PTA), Policy Development and Management Service Group OIC-Undersecretary Niño Raymond Alvina, PTA President Gil Beltran, Ralph Recto, TUV Nord, University of the Philippines Los Banos (UPLB)

SEP

05

2024

Recto: Gov’t financing measures always aim to ensure capacity to meet Filipinos’ primary needs

PRESS RELEASE Finance Secretary Ralph G. Recto has underscored that whatever measures by the Department of Finance (DOF) to source financing for public programs and projects are always guided by the principle that they will never compromise the government’s ability to meet the

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TAG Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Commission on Audit (COA), Comprehensive Tax Reform Program (CTRP), Department of Finance (DOF), Excise Tax on Single-use Plastics, Foundation for Economic Freedom (FEF), General Appropriations Act (GAA), Governance Commission for GOCCs (GCG), government-owned and controlled corporations (GOCCs), Medium Term Fiscal Program, Motor Vehicle User's Charge (MVUC), Office of the Government Corporate Counsel (OGCC), PhilHealth, Philippine Deposit Insurance Corporation (PDIC), Ralph Recto, Rationalization of the Mining Fiscal Regime, VAT on foreign digital service providers

SEP

03

2024

National and Bangsamoro Governments approve ODA loan guidelines that will support BARMM’s inclusive development

PRESS RELEASE The Intergovernmental Fiscal Policy Board (IFPB) has approved the guidelines on official development assistance (ODA) loans for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), paving the way for the region’s access to foreign-assisted projects and

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TAG Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), Bangsamoro Government, Bangsamoro Government Minister of Finance, Bangsamoro Organic Law (BOL), Bangsamoro Revenue Office (BRO), Budget and Management Ubaida C. Pacasem, Bureau of Internal Revenue (BIR), Deparment of Budget and Management (DBM), Department of Finance (DOF), Department of Trade and Industry (DTI), Development Bank of the Philippines (DBP), Intergovernmental Fiscal Policy Board (IFPB), National Economic Development Authority (NEDA), Official Development Assistance (ODA), Ralph Recto

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