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THIRTY-FOUR of the 50 municipalities and cities under Cebu Province were given an “unofficial” updated status of their income classification by the Bureau of Local Government Finance in Central Visayas (BLGF 7) on Thursday, Feb. 8, 2024.
The New Year’s message of President Ferdinand Marcos Jr. to the nation fits to a tee. His pledge “to build better and more” this year is exactly what the Philippines has to do to lift the plight of our less fortunate brothers. In essence, his administration is vowing to work…
THE passage of key tax reforms and harnessing local government units (LGUs) as engines of growth are among the factors that will sustain the country’s recent economic gains, according to the country’s Finance Secretary. Finance Secretary Benjamin E. Diokno said growth in 2023 is projected to be near the low…
The income classification of local governments is crucial for governance, financial support, aid determination, and project prioritization. It also ensures fair compensation for local government officials and personnel.
President Ferdinand "Bongbong" Marcos Jr. has signed into law the measure which institutionalizes the automatic income classification of local government units.