Tag: DOF

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Lacson: Why Not Defund Persistently Nonperforming GOCCs?

Why not defund persistently nonperforming government-owned and controlled corporations (GOCCs) instead of merely reducing their subsidies, so the government can maximize its limited resources?

Sen. Panfilo “Ping” M. Lacson raised this possibility Thursday as he asked the government’s economic managers about their policy on GOCCs that still receive subsidies every year despite persistently generating no revenues or providing little or no apparent benefit.

In Filipino: Lacson: Bakit Hindi I-Defund ang mga Patuloy na Nonperforming GOCC?

Continue reading “Lacson: Why Not Defund Persistently Nonperforming GOCCs?”

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Making Noise on the 2025 Budget Makes Sense After All

If there is one amendment in the 2025 GAA that is worth mentioning, Congress has rectified a legally flawed provision under the 2024 GAA by deleting Special Provision (d) under the Unprogrammed Appropriations which allowed the executive branch to realign “excess PhilHealth funds” to the National Treasury.

This bars the Department of Finance from gobbling up PhilHealth funds in 2025. This may have also rendered the pending SC petitions on this particular issue moot and academic.

Making noise makes sense after all.

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Utang, Gamitin sa Tama!

Ayon sa Department of Finance: ang utang ay isa sa pinakamabisang paraan na ginagamit ng mga bansa upang mas mapabilis ang paglago ng ekonomiya at umasenso ang bawat mamamayan.

TAMA! Kung gagamitin sa TAMA.

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On DOF Getting Netflix’s Support for VAT on Digital Services

Thank you, Ralph for making what was almost impossible for the Philippines to accomplish a few years ago almost possible under your watch.

Being able to actually tax Netflix is just one of several steps to take, though. Just imagine if we could tax all the others…

To both instant bashers and sober observers: Unfortunately, yes – if DOF succeeds in capturing Netflix, YouTube Premium, Premium X and other foreign online digital services for VAT purposes, the same will be passed on to us, subscribers.

That said, I am looking at the income tax to be collected in case they have local offices and distributors based here. Better to collect than not at all.

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On Meeting 2024 Revenue Targets

We can truly celebrate if revenues are equal to expenditures. Assuming the other half of our revenue target of P4.27 trillion is achieved in the second semester, with a 2024 national budget of P5.767 trillion, our budget deficit this year is still huge at P1.5 trillion.

I am aware that debt and deficit are a given in all economies. The US, for example is drowning in debt with US$34T (121% of GDP) and Japan (255%) but their toll-free multi-level highways and other public infra as well as their social services are far better and more efficient.

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