The Lawphil Project - Philippine Laws and Jurisprudence Databank - Arellano Law Foundation
_ Department of Finance


Mandate

Under Executive Orders 127, 127-A and 292, the Department of Finance is responsible for the following:

  • Formulation, institutionalization and administration of fiscal policies in coordination with other concerned subdivisions, agencies and instrumentalities of the government;

  • General and management of the financial resources of government;

  • supervision of the revenue operations of all local government units;

  • Review, approval and management of all public sector debt, domestic or foreign; and

  • Rationalization, privatization and public accountability of corporations and assets owned, controlled or acquired by the government.

Powers an Functions

  • Formulate goals, action plans and strategies for the Government’s resource mobilization effort;

  • Formulate, institutionalize and administer fiscal and tax policies;

  • Supervise, direct and control the collection of government revenues;

  • Act as custodian of, and manage all financial resources of Government

  • Manage public debt;

  • Review and coordinate policies, plans and programs of GOCCs;

  • Monitor and support the implementation of policies and measures on local revenue administration;

  • Coordinate with other government agencies on matters concerning fiscal, monetary, trade and other economic policies

  • Investigate and arrest illegal activities such as smuggling, dumping, illegal logging, etc. affecting national economic interest

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