Category: Other Export News

On May 22, 2024, the Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual along with Senator Juan Edgardo “Sonny” Angara, the conceptualizer and author of the Act and other notable signatories signed the Implementing Rules and Regulations (IRR) for Republic Act No. 11981, also known as the Tatak Pinoy (Proudly Filipino) Act. This legislation aims to support and promote Filipino-made products and services globally.

The Tatak Pinoy (TP), also known as the Proudly Filipino Act (RA 11981), was signed into law by President Ferdinand R. Marcos, Jr. (PBBM) on 26 February 2024. The act mandates the formulation, funding implementation, monitoring, and evaluation of a comprehensive multi-year Tatak Pinoy (Proudly Filipino) strategy establishing a Tatak Pinoy Council (TPC).

The Department of Labor and Employment (DOLE) gears to grant funds to enterprises focused on upskilling their workers’ capabilities.  

Relative to this DOLE, under the leadership of Sec. Bienvenido Laguesma issued Department Order 241, Series of 2024, the “Implementing Guidelines of the DOLE Adjustment Measures Program (DOLE-AMP) for Workers and Enterprises”. The program aims to boost human resources and achieve decent and sustainable work, benefitting workers’ productivity with improved and upgraded skills. Also, it financially supports enterprises that are up to reskill and upskill their employees to make them agile.

President Ferdinand Marcos Jr appointed former Batangas Representative Ralph Recto as the new Department of Finance (DOF) Secretary, vice Benjamin Diokno, on 12 January 2024. 

The new DOF chief highlighted the need to build robust economic fundamentals made by his predecessors. He emphasized the need for reforms on the following e.g., Retail Trade Liberalization Act (RTL), the Foreign Investments Act (FIA), and the Public Services Act (PSA), which are all expected to increase investments in infrastructure, industry, and services aimed to reach P4.3 trillion in revenues to produce more employment and social services in 2024. 

Concurrently, Sec. Recto also serves as a member of the Export Development Council (EDC), championing export development in the country. JVL

President Ferdinand Marcos Jr. has officially signed the Republic Act No. 11976, also known as the Ease of Paying Taxes Act, into law. This legislation aims to enhance government revenue collection by implementing digitalization initiatives. It introduced administrative tax reforms and amended various sections of the National Internal Revenue Code of 1997. Additionally, it modernizes the Philippine taxation system by adopting best practices and replacing outdated procedures.