FOR EFFICIENCY | Marcos signs measure for easier payment of taxes into law

January 8, 2024 , 01:19 PM

By Beatrice Puente

(January 8, 2024) – President Bongbong Marcos Jr. signed into law one of his administration’s priority measures that seeks to provide for an easier way of paying taxes through digitalization, the Malacañang said on Sunday.

In a statement, the Presidential Communications Office (PCO) said the signing of Republic Act (RA) No. 11976 or the Ease of Paying Taxes Act is critical in helping achieve Marcos’ eight-point socioeconomic agenda.

“The law will modernize and increase the efficiency and effectiveness of tax administration, strengthen taxpayer rights, and allow the government to capture as many taxpayers as possible into the tax net by streamlining the system and minimizing the burden on taxpayers,” said the PCO.

Because of this, the PCO also expressed optimism that the collected taxes will increase.

RA 11976 essentially amends several sections of the National Internal Revenue Code of 1997. It also repealed the “additional requirements for deductibility of certain payments” originally set forth under Section 34(K) of the same law.

“The new law, which introduces administrative tax reforms and amendments to several sections of the National Internal Revenue Code of 1997, also eyes to update the Philippine taxation system, adopt best practices, and replace antiquated procedures,” said the PCO.

Under Section 3 of RA 11976, taxpayers are classified into micro, small, medium, and large, depending on their gross sales. Micro taxpayers earn less than P3 million, small taxpayers earn P3 million to P20 million, medium taxpayers earn P20 million to P1 billion, and large taxpayers earn P1 billion and above.

Among the other important changes introduced by RA 11976, according to the PCO, are the “elimination of the distinction between documentation and basis of sales of goods and services and the classification of value-added tax refund claims into low, medium, and high-risk.” Electronic filings were also added to the law.

“The term ‘filing of return’ shall refer to the act of accomplishing and submitting the prescribed tax return, electronically or manually, to the Bureau of Internal Revenue (BIR), or through any authorized bank agent or authorized tax software provider,” read RA 11976.

Digitalization efforts have been undertaken by the BIR over the previous years. According to the Department of Finance (DOF), this measure helps in “ensuring convenience and minimizing the risk of late payments.” RA 11976 was one of the priority measures supported by the DOF when it was still being deliberated upon in Congress.

Marcos has repeatedly stressed the importance of mandatory digitalization in government agencies to reduce inefficiencies brought about by red tape.

Last month, he signed a law that streamlines government transactions, with the Anti-Red Tape Authority and the Department of Information and Communications Technology expected to assist local government units in the process.

“The questions we were trying to bring it down to that level and the local governments are really part of that thing. You’ve seen how it can happen. That’s what we need to address,” said Marcos, as quoted by the PCO last month.

(PM)

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