‘Certify as urgent ease of paying taxes bill’

MANILA, Philippines — The Ease of Paying Taxes Act should urgently be passed into law the same way that President Marcos certified as urgent the Maharlika Investment Fund, according to Albay Rep. Joey Salceda.

“I think it’s time to modernize the way we administer taxes. Bringing the tax system into the 21st century will be a PBBM legacy,” Salceda said, referring to the Chief Executive’s initials.

“I request the President to certify this measure as urgent, considering that he has already mentioned this as a priority in both 2022 and 2023 State of the Nation Address,” he added.

Senate Bill 2224, or the Ease of Paying Taxes Act, aims to simplify tax filings for small and medium enterprises, allow most tax processes to be done online, shift to an invoice system to accelerate value-added tax refunds, and create a special division in the Bureau of Internal Revenue for small and medium taxpayers.

The measure is in the period of interpellation in the Senate.

“We are a highly global people, and the EOPT will allow taxpayers abroad, especially overseas Filipino workers, to update their tax records and even file for Taxpayer Identification Numbers anywhere. Many of them want to invest or settle land issues here, but they cannot because they can’t do their taxes remotely,” Salceda explained.

“As a result, we’ve been missing out on potential OFW investments, all while we try to attract foreign direct investments and make foreign capital come easier,” he added.

A VAT refund for tourists and provisions against large-scale use of fraudulent receipts are also being planned by Congress, according to Salceda.