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Metro Manila (CNN Philippines, February 17) – Finance Secretary Carlos Domínguez III says he is confident that the Internal Revenue Office will be able to exceed its tax collection target for this year.
During the launch of the agency’s 2021 fiscal campaign on Wednesday, Domínguez said this will be achieved as the BIR agency further strengthens its digital transformation and implements better collection policies.
“With digitization, the improvement of administrative systems and the dedication of the men and women of the Bureau, I have no doubt that the goal will not only be met, but that it will be exceeded again,” he said.
By 2021, the BIR aims to raise $ 2.081 trillion, 6% more than the 2020 total collections of $ 1.95 trillion. Last year’s collection was also 12% higher than the revised target of $ 1.7 trillion, the tax agency said.
BIR Commissioner Caesar Dulay said they accelerated the implementation of new technologies to change registration, tax filing and online payment processes. They developed systems and policies to make sure taxpayers can fulfill their duties, he said.
With this change, Domínguez pointed out that 85% of tax payments were made through electronic channels, while almost 100% of tax returns were filed online.
He added that a grant worth $ 809,450, or about $ 38.85 million, was recently signed with the United States Agency for Commerce and Development that will help in the agency’s digital transformation as well as restructuring programs. and training recommended.
Meanwhile, companies also shared how they transformed in the midst of the pandemic.
San Miguel Corp. President and Chief Operating Officer Ramon Ang said that despite the challenges, the company did not stop providing assistance to small businesses and Filipinos to help them recover. Specifically in food supply, the company forged partnerships with the Department of Agriculture to help bring local farmers’ produce to markets in Metro Manila.
UnionBank Philippines Vice President Justo Ortiz said the pandemic pushed them to create platforms that will help their customers, especially small businesses, to help them continue to operate amid the pandemic.
During this time, the president and CEO of Ayala, Jaime Augusto Zobel de Ayala, said that this prompted everyone, the public and private sectors, to work together on all aspects to help the country move forward.
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