00:00 The finance department collects higher dividends last year while the Bureau of Customs exceeds its revenue collection target in 2023.
00:07 These and more stories in tonight's business news roundup.
00:11 The Department of Finance's
00:15 Privatization and Corporate Affairs Group has collected a total of ninety nine point nine eight billion dollars in dividends from government-owned or controlled
00:22 corporations or GOCCs in 2023.
00:26 The latest figure is higher by 46 percent compared to 68.34 billion pesos collections in 2022.
00:33 A total of 51 GOCCs remitted dividends to the National Treasury as of December 31, 2023.
00:40 DOF said the Banco Central ng Pilipinas or BSP emerged as the top dividend contributor in 2023 with 55.61 billion pesos.
00:50 The Bureau of Customs or BOC exceeded its revenue collection target of 874.16 billion pesos in 2023 by 1.08 percent or 9.459 billion pesos.
01:02 The BOC's collections in 2023 were also higher by 2.46 percent than the 862.41 billion collected in 2022.
01:12 The Bureau of Internal Revenue or BIR has collected 2.34 trillion pesos as of the end of November 2023,
01:19 surpassing its 2022's collection of 2.16 trillion pesos by 8.6 percent in the same period of 2022.
01:27 The Finance Department said the 11 months of collection performance could be attributed to its ramped up tax compliance and tax enforcement drives in 2023.
01:35 The Bagui Big Fund gained the support of the Employers' Confederation of the Philippines or ECOP on its plan to increase the monthly contribution savings rates for both employers and members.
01:46 Under new savings rates, the maximum monthly compensation to be used in computing the required 2 percent employee savings and 2 percent employer share of Bagui Big Fund members
01:55 shall be increased to 10,000 pesos from the current 5,000 pesos.
02:00 As a result, the monthly savings of Bagui Big Fund members for both the employee share and the employer's counterpart should increase to 200 pesos each from the current 100 pesos.
02:10 This is Sharms Espina for The Nation.
