THE unit of a wholly owned subsidiary of Globe Telecom Inc. announced the taxes it paid via its platform soared by 286 percent in 2020.
In absolute terms, payments to the Bureau of Internal Revenue (BIR) coursed through the GCash platform reached almost P1.5 billion, according to Martha Sazon, CEO of GCash operator Globe Fintech Innovations Inc. The company is currently wholly owned by Globe Capital Venture Holdings Inc., which is in turn a wholly-owned subsidiary of Globe Telecom.
Sazon said this “signals that consumers are now shifting towards e-payments for their government transactions.”
“Government online transactions should further grow this year, similar to what we’ve observed in 2020. This trend shall continue not only because of health and safety interests against the pandemic, but also because online payments are more convenient, and has been proven to be one of the most efficient methods for transacting with the public sector,” she said.
Sazon noted that the platform will continue to support the government’s initiative for stronger tax collection this year.
She said they fully support the BIR’s “campaign against delinquent taxpayers and tax dodgers and for a more efficient tax collection process.”