- NEWS
- the EDIT
- COMMENTARY
- BUSINESS
- LIFE
- SHOW
- ACTION
- GLOBAL GOALS
- SNAPS
- DYARYO TIRADA
- MORE
The Fiscal Incentives Review Board (FIRB) approved a total of P20.9 billion in tax subsidies to seven government-owned and controlled corporations (GOCCs), instrumentalities, and state colleges and universities.
“This move is in line with President Ferdinand Marcos Jr.’s commitment to delivering more responsive public services,” Department of Finance (DoF) Secretary Ralph Recto said. Recto also serves as FIRB’s chairman.
A report from the Department of Finance (DoF) stated that FIRB approved the total tax subsidy from 2024 to 21 May 2025.
Under Executive Order 93, FIRB facilitates tax subsidies to lessen the financial burden of government entities that are also required to pay certain taxes, such as value added tax from sales of goods and services to government entities.
Last year, FIRB granted the most enormous subsidy to the Manila International Airport Authority which received P7.5 billion.
This was followed by the National Power Corporation which secured P6 billion and the Philippine Deposit Insurance Corporation which posted
Under Executive Order 93, FIRB facilitates tax subsidies to lessen the financial burden of government entities that are also required to pay certain taxes.P4.5 billion.
Other recipients of tax subsidies during the same period included the National Transmission Commission which secured P2 billion, the Armed Forces of the Philippines Commissary and Exchange Service (AFPCES) with P305 million, the Bureau of the Treasury (BTr) with P233 million. Meanwhile, the University of the Philippines National Institute of Physics was granted P6.6 million.
For this year, BTr was again able to receive P223.2 million in tax subsidy while AFPCES obtained P58.5 million.
DoF said all these entities have indicated a 100 percent utilization rate of tax subsidies based on the Special Allotment Release Order (SARO) from the Department of Budget and Management. Through SARO, government agencies can use funds with certain amount limits for projects when the need arises.
