Finance Secretary Ralph Recto ordered the creation of a multi-sectoral working group to addresas tax and non-tax concerns through digital solutions.
The multi-sectoral working group will be led by the Department of Finance with private sector partners, which aims to strengthen the country’s investment climate and generate more jobs for Filipinos.
In a statement Wednesday, the DOF said the directive came during a dialogue with the Makati Business Club (MBC) on Tuesday, where business leaders discussed key policy concerns and offered insights to help strengthen the Marcos administration’s efforts in improving the country’s investment environment.
The DOF said among the key issues raised was the implementation of Revenue Memorandum Circular (RMC) No. 5-2024, which clarifies the taxation of cross-border services involving non-resident foreign corporations.
During the meeting, Recto affirmed the government’s commitment to working with the business sector in reviewing existing tax circulars and identifying potential digital solutions that will make the tax assessment more transparent and efficient for stakeholders.
BIR Commissioner Romeo Lumagui Jr. also shed light on the issues raised on the said RMC.
The DOF said Lumagui agreed with Recto’s proposal for the MBC and the BIR to collaborate on proposed amendments to clarify key provisions.
Recto assured business leaders that the government is intensifying its digitalization efforts across the board to eliminate corruption and increase efficiency in the delivery of public services.
He encouraged the private sector’s participation in accelerating the DOF’s digital transformation program, particularly in the Bureau of Internal Revenue, the Bureau of Customs and the Bureau of the Treasury.
According to the DOF, MBC chairperson Edgar Chua vowed to support the government by providing inputs and technology. (PNA)
