The Philippines Department of Finance highlighted a record PHP 147.15 billion in dividend remittances from government-owned or -controlled corporations, recognizing 50 GOCCs for a 29% increase from the previous year. The department framed the higher remittances as a key source of non-tax revenue for the national government, supporting spending on public programs including infrastructure, education and healthcare. Of the total, PHP 140 billion has already been remitted, with the balance expected by year-end. Under the Dividend Law, GOCCs must remit at least 50% of their net earnings from the preceding year to the national government, but the Department of Finance has asked them to raise remittances to 75% to bolster non-tax revenues and the government’s fiscal position. The largest contributors included Bangko Sentral ng Pilipinas, Land Bank of the Philippines, Philippine Deposit Insurance Corporation, Manila International Airport Authority and Philippine Amusement and Gaming Corporation. Separately, the department said its third GOCC Service Caravan in Cagayan de Oro on June 29 to 30 involved 11 GOCCs and served more than 3,500 people over two days. The remaining dividend balance is expected to be remitted by year-end.
Department of Finance (Philippines)2026-07-08
Philippines Department of Finance reports record PHP 147.15 billion GOCC dividends and seeks 75% remittances
The Philippines Department of Finance said 50 GOCCs delivered record dividend remittances of PHP 147.15 billion, up 29% from the previous year, with PHP 140 billion already paid. While the law requires GOCCs to remit at least 50% of prior-year net earnings, the department has asked them to raise payouts to 75% to strengthen non-tax revenues.