For once, the tax system favors the many over the few. The flat 20% levy on interest income, introduced under the Capital Market Efficiency Promotion Act (CMEPA), doesn’t punish savers—it puts an end to years of built-in advantages that let the wealthy lock away capital and enjoy lower tax rates. Contrary to the social media […]

The Philippines has joined 67 jurisdictions—including 10 in Asia—in committing to the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) by 2027 or 2028, marking a major step toward regulating digital assets and curbing tax evasion linked to cross-border crypto flows. The Department of Finance (DOF) made the commitment during the 8th […]

The Philippine insurance industry reported robust performance in 2024, with double-digit growth across key metrics, according to year-end data from the Department of Finance (DOF). Benefit payouts rose 18.97% to P160.33 billion ($2.86 billion), driven by an increase in claims. Net income climbed 15.88% to P56.29 billion (US$1 billion), marking the third consecutive year of […]

The Philippine government is actively courting British investors, urging them to take advantage of opportunities in the country’s growing economy. Finance Secretary Ralph Recto emphasized the Philippines’ potential for high returns during the Philippine Economic Briefing in London on October 31, 2024. “If you are looking for a place to grow your business and make […]