Department of Finance (DOF) secretary Benjamin Diokno has urged the Securities and Exchange Commission (SEC) to continue expanding the country’s capital market through digitalization to support economic growth.
The government, however, appears not to be interested in permanently establishing an incentive package for WFH setup with the Department of Finance lauding the decision of BPO firm Concentrix to give up its tax perks in exchange for a continued hybrid work setup for its employees.
IBPAP president and CEO Jack Madrid said that while the group supports the need to fully reopen the economy, BPO employees have an overwhelming preference for a hybrid work arrangement.
Department of Finance (DOF) secretary Carlos Dominguez III has directed the country’s main revenue-generating agencies — the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) — to fortify their respective systems against hacking and other cyber threats as he expressed concern over the increasing number of scams perpetrated online against financial consumers.
Department of Finance secretary Carlos Dominguez III had earlier instructed agencies attached to the DOF and government financial institutions to institutionalize a cybersecurity program through a shared defense strategy.
DOF secretary Carlos Dominguez made the declaration as he signed with US Embassy in the Philippines a $809,450.00 grant agreement for the BIR’s ICT Modernization Strategy and Data Center Project.
The Department of Finance (DOF) said on Wednesday, Jan. 27, that it expects the full nationwide implementation this year of several digitalization projects to improve tax administration in step with its goal of utilizing new technologies to boost tax compliance and fight corruption.
The cyber theft, which was first reported by local finance website bilyonaryo.com, occurred during the Independence Day weekend this year. Hackers were said to have used a combination of ATM withdrawals and online transfers to undertake the heist.
Department of Finance secretary Carlos Dominguez III said digitalization of transactions and distribution of aid through banks and e-wallets were the reasons for the success of the small business wage subsidy (SBWS) program.
DOF secretary Carlos Dominguez III said they cannot make secure projections on PhilHealth’s fund life as its information system is incapable of generating relevant data despite spending “close to P200 billion”.
