CREATING fair and efficient tax systems means adopting digital technologies which will be the thrust of the current administration in the medium term, according to the Department of Finance (DOF).
Finance Secretary Benjamin Diokno said this is the thrust of the Marcos administration and asked tax professionals, particularly members of the Tax Management Association of the Philippines (TMAP), to help in this endeavor.
Diokno recognized that tax professionals from the TMAP were instrumental in the government’s efforts to implement structural reforms such as the Tax Reform for Acceleration and Inclusion or TRAIN Law and the Corporate Recovery and Tax Incentives for Enterprises or CREATE Law.
“We are counting on the Association’s fervent support. You are our partner in faithfully implementing this framework to usher us back to our high-growth trajectory,” Diokno said.
The Finance Secretary noted that digital transformation will help ensure the long-term recovery of the economy, modernize governance, and allow the Philippines to perform as well as, if not better than, its Asean neighbors.
Diokno called on TMAP to further simplify and streamline operational and core business processes through the use of digital tools to expedite the delivery of public services.
He also reminded tax professionals of their collective duty to inspire trust in the system and exercise their roles with utmost competence, professionalism, and integrity.
“Tax professionals and taxpayers alike have a meaningful role to play in achieving the goals embodied in our fiscal framework. These goals are ambitious but doable if we work together,” he added.
Diokno said the administration’s Medium-Term Fiscal Framework seeks to usher the Philippines back to its high-growth trajectory.
Through the framework, the government aims to enhance the fairness and efficiency of the tax system, and focus on efficient tax administration through digitalization.
He identified digitalization as the key to transforming the system and eradicating corruption within the Bureau of Internal Revenue and Bureau of Customs.