Carlos G. Dominguez
Department of Finance
Secretary Carlos G. Dominguez has over 40 years of vast experience and an outstanding track record of achievements at the helm of various organizations in the public and private sectors. His expertise was borne out of his experiences as a shareholder, board chairman and a member of over a dozen corporations across multi-industries such as power, agriculture, mining, banking, hospitality, real estate, and investment. Mr. Dominguez was appointed as Cabinet Secretary thrice: as Secretary of Environment and Natural Resources (1986-1987), Secretary of Agriculture (1987-1989), and currently as Secretary of Finance since 2016. Under his leadership, the Department of Finance (DOF) was able to draft and introduce to the Congress the first of a series of the Duterte administration’s proposed tax reform packages known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act less than 90 days from the time he assumed the Cabinet portfolio in July 2016. President Rodrigo Roa Duterte signed into law the TRAIN Act on December 19, 2017. This was followed by other successes in the legislature—such as the passage of the Tax Amnesty Act, the Tobacco Tax Reform Law, and a new Sin Tax Reform Law which raised excise taxes on alcohol and electronic cigarettes. On his watch, the Philippines’ key revenue agencies—the Bureaus of Internal Revenue (BIR) and of Customs (BOC) also continue to achieve strong revenue growth rates. It was also under his leadership that the BIR was able to secure its largest tax settlement ever— amounting to about $600 million—from a single taxpayer in Philippine history.