21-05-2025
GOCCs remitted over P76B to state coffers as of May 15, 2025 — DOF
The dividend remittances from the earnings of government-owned or -controlled corporations (GOCCs) has reached over P76 billion as of May 15, 2025, the Department of Finance (DOF) said Wednesday.
In a statement, the DOF said the amount was sourced from around 50 GOCCs — with about 13 state-owned firms contributing at least P1 billion each.
Among the top contributor-GOCCs were the following:
Landbank of the Philippines
Philippine Amusement and Gaming Corporation
Philippine Deposit Insurance Corporation
Philippine Port Authority (PPA)
Manila International Airport Authority (MIAA)
Clark Development Corporation (CDC)
Philippine National Oil Company (PNOC)
Bases Conversion and Development Authority (BCDA)
Philippine Charity Sweepstakes Office (PCSO)
Subic Bay Metropolitan Authority (SBMA)
Maharlika Investment Corporation (MIC)
Philippine Economic Zone Authority (PEZA)
Philippine Guarantee Corporation (PHILGUARANTEE)
The Finance Department said the amount of GOCCs' dividend remittances are expected to exceed P100 billion by end of the year.
The DOF said GOCC dividends are a major source of non-tax revenues for the national government to fund the administration's priority programs 'without the need to impose new taxes on the people.'
'I thank our hardworking GOCCs for their continued support to the national government and for heeding the President's call for an all-inclusive, whole-of-government approach in realizing the government's development plans that will benefit every Filipino,' said Finance Secretary Ralph Recto.
'These non-tax revenues allow us to support the government's expenditure program for the year, enabling the DOF to stay on track with its fiscal program and mobilize funds for our priority programs and projects,' added Recto.
The Finance chief said the sustained increase in dividend remittances from state-owned firms 'shows that our GOCCs are continuously operating efficiently and generating substantial profits, enabling them to contribute more to the National Treasury.'
Under Republic Act No. 7656 or the Dividend Law, GOCCs are required to remit at least 50% of their net earnings during the preceding year as dividends to the national government.
To maximize non-tax revenue, the DOF said it has requested state-owned firms to increase this share to 75%. — RSJ, GMA Integrated News
