Metro Manila (CNN Philippines, February 17) — Finance Secretary Carlos Dominguez III says he is confident that the Bureau of Internal Revenue will be able to exceed its target tax collections for this year.
During the agency’s 2021 tax campaign launch on Wednesday, Dominguez said this will be achieved as BIR agency further strengthens its digital transformation and implementation of better collection policies.
“With digitalization, improved administrative systems, and the dedication of the men and women of the Bureau, I have no doubt that the target will not be just met, but will be exceeded again,” he said.
For 2021, the BIR is targeting to collect ₱2.081 trillion, 6% higher than total 2020 collections of ₱1.95 trillion. Last year’s collection was also 12% more than the revised target of ₱1.7 trillion, the tax agency said.
BIR Commissioner Caesar Dulay said they fast-tracked the implementation of new technologies to shift registration, tax filing and payment processes online. They developed systems and policies to make sure that taxpayers will be able to comply with their duties, he noted.
With this shift, Dominguez noted that 85% of tax payments were made through electronic channels, while almost 100% of tax returns were filed online.
He added a grant worth US$809,450, or about ₱38.85 million, was recently signed with the United States Trade and Development Agency that will assist in the agency’s digital transformation, as well as recommended restructuring and training programs.
Meanwhile, companies also shared how they transformed amid the pandemic.
San Miguel Corp. President and COO Ramon Ang said despite challenges, the company did not stop giving assistance to small businesses and Filipinos to help them in their recovery. Specifically on food supply, the company forged partnerships with the Department of Agriculture to help bring produce of local farmers to markets in Metro Manila.
UnionBank of the Philippines Vice Chairman Justo Ortiz said the pandemic pushed them to create platforms that will help their customers, especially small enterprises, to help them continue operating amid the pandemic.
During this time, Ayala Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala said this prodded everyone, public and private sectors, to work together in all aspects to help the country move forward.
