GCash saw the value of transactions for payments to the BIR increased by 117 percent to P574.89 million in the first half of 2020 from P265.19 million the year prior.
The Department of Finance and the Bureau of Internal Revenue are currently crafting regulations and designing a system to collect VAT on digital transactions to help the government raise revenues.
Sen. Ramon "Bong" Revilla Jr. made the suggestion in a Senate resolution that was filed a day after Albay representative Joey Salceda proposed the imposition of tax on Netflix and Facebook ads, among other Internet firms, as a way of generating revenues for the government.
With the income tax filing deadline extended to May 15, 2020, many Filipinos who are stuck at home because of the public health situation can pay their taxes early via the Pay Bills section of the PayMaya app on their phone.
