BIR officially introduced its online portal for taxpayers.
BIR — On Tuesday, the Bureau of Internal Revenue officially introduced a new electronic system that aims to make it easier for taxpayers to register and to pay taxes online.
Together with the Korea International Cooperation Agency, the agency revealed the Electronic Invoicing / Receipting System and Electronic Sales Reporting System as part of the tax bureau’s digitalization program.
ABS-CBN News reported that the agency’s new web-based system is set to be implemented on a pilot basis starting July 2022.
According to the tax bureau, 100 identified companies, or those classified as “large taxpayers”, will join the pilot program and many of those companies are those engaged in electronic commerce and the export of services and goods.
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Finance Undersecretary Antonette Tionko, who heads the DOF Revenue Operations Group, said that they expect the new electronic system to improve tax administration and to make tax compliance more convenient and easier for taxpayers.
“I firmly believe that the Philippines’ EIS system will be a real example that shows the importance of digitalization of tax administration supports economic development,” President of the Korea Institute of Public Finance Kim Joejin said.
Based on a report, the agency’s new web-based facility will allow taxpayers to issue electronic receipts or electronic invoices, as well as store and process required sales data, sales amount, buyer information, and more.
Also, the new electronic system allows taxpayers to create their sales data transmission, request EIS certificates, and more.
BIR’s new online system will improve the tax bureau’s efficiency in auditing tax payment deficiencies and will also help the agency with reliable sales data of companies.
The tax bureau will expand the program in order to cover more companies and users in the months to come.
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