Saturday, June 22, 2024

Diokno tells tax professionals: Help PH shift to digital economy

Department of Finance (DOF) secretary Benjamin Diokno urged on Thursday, Sept. 8, tax professionals to support the country in its shift to the digital economy.

DOF secretary Benjamin Diokno

“We must do this now, and I ask for your support to see this through. I am calling on [the Tax Management Association of the Philippines (TMAP)] to help quicken the country’s shift to the digital economy by investing in technology and innovating your business practices,” said Diokno at TMAP’s 40th anniversary celebration.

The current administration is implementing a Medium-Term Fiscal Framework that seeks to usher the Philippines back to its high-growth trajectory.

Through the framework, the government aims to enhance the fairness and efficiency of the tax system, and focus on efficient tax administration through digitalization.

Diokno identified digitalization as the key to transforming the system and eradicating corruption within the Bureau of Internal Revenue and Bureau of Customs.

“I have directed our revenue agencies to fast-track the digitalization of our revenue and customs systems to boost our tax effort, enhance tax administration, and eliminate discretion,” said Diokno.

He further noted that digital transformation will help ensure the long-term recovery of the economy, modernize governance, and allow the Philippines to perform as well as, if not better than, its Asean neighbors.

Diokno called on TMAP to further simplify and streamline operational and core business processes through the use of digital tools to expedite the delivery of public services.

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