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DOF eyes Philippines’ full transition to e-invoicing by end-2022

By: - Reporter / @daxinq
/ 03:56 PM June 04, 2019

MANILA, Philippines — The Department of Finance (DOF) aims to complete the full shift to an electronic invoicing (e-invoicing) system by the end of 2022 as part of the Duterte administration’s digital transformation in tax administration so the government could provide better and faster services to taxpayers.

Speaking before an economic forum in Washington D.C., Finance Assistant Secretary Antonio Lambino II said this digital transformation initiative will address the tendency of the current tax system to “overemphasize controls and monitoring over the welfare of taxpayers and the overall ease and efficiency of compliance.”

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He noted, for instance, that redundant data fields are currently required in tax returns that already form part of other mandatory attachments in paying taxes.

The Tax Reform for Acceleration and Inclusion (TRAIN) Act, Lambino said, provides the government the corrective measure to do away with some of the redundancies and inefficiencies in the tax system by mandating the establishment of an e-invoicing system.

“Progress has been made in modernizing information technology services for taxpayers. However, further reforms are needed,” the DOF official said.  “The Bureau of Internal Revenue, in partnership with the government of Korea, is set to complete the development of the e-invoicing system by end of 2022.”

Lambino said this digital transformation will not only improve services to taxpayers but would also “result in administrative savings, and make the tax bureau more resilient and easily adaptable to changes in policy and technology.”

BIR’s digital transformation agenda, he said, includes optimizing business processes, implementing an enabling infrastructure, maximizing the use of information for effective business operations, and improving the digital literacy of the bureau’s workforce.

“This agenda requires a high level of commitment, and the tax bureau has initiated foundational activities, such as business process mapping, starting this year,” he said.

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TAGS: Business, business news, digital, DoF, e-invoice, local news, News, Philippine news updates, tax, taxation
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