Tag: DOF

The Department of Finance (DOF) has assured local government units (LGUs) that the Real Property Valuation and Assessment Reform Act (RPVARA) will not automatically increase property taxes, seeking to dispel concerns that the landmark reform could burden taxpayers and undermine local fiscal autonomy.

The government is seeking public feedback on a sweeping logistics reform that could reshape how goods move across the Philippines, tackling high shipping costs and chronic port congestion that have long weighed on businesses and supply chains.

The Department of Trade and Industry (DTI) and the Department of Finance (DOF) have approved the lifting of the moratorium under Administrative Order (AO) 18, clearing the way for more office developments to qualify as Philippine Economic Zone Authority (PEZA) economic zones and expanding location options for information technology-business process management (IT-BPM) investors.

The government has moved to eliminate long-standing confusion over local taxation for investment-registered firms, with a new joint circular expected to streamline compliance, improve policy consistency, and strengthen the Philippines’ appeal to investors.

The government is stepping up its digital reform drive to make tax compliance faster, simpler, and less burdensome for the country’s biggest taxpayers, with the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) launching a centralized Taxpayer Portal for firms under the Large Taxpayers Service (LTS).