In line with our dearest President’s goal to simplify and improve the “ease of doing business” with government groups, the Bureau of Internal Revenue (BIR) just launched the newest digital tax payments system. This will allow Filipinos to pay their taxes conveniently using PESOnet, the government’s electronic funds transfer service.
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What will this impose?
Good news to all taxpayers; tax payments have never been this easy. With PESOnet, taxes can now be paid online. This will allow all taxpayers to save a lot of time and effort in just paying their taxes.
In addition to that, PESOnet will help serve the public better because this online payment scheme will be easier for everyone. We live in a digital world so everything is easier.
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Furthermore, as per previous statements in line with PESOnet, this facility will ultimately attract more and more foreign investors. This translates to a lot of opportunities to be granted to the public.
Antonette Tionko, Finance Undersecretary, said that the launch of PESOnet not only is beneficial for the people; she said that this service marks the beginning of the country’s usage of interoperable digital bills for utilities and taxes, of course.
Under this initiative, the BIR is the first government biller institution to pilot and adopt the interoperable digital bills payment service for tax collection.”
Ease of doing business in the country
Now that taxes can be paid online, Duterte’s goal to improve and simplify government processes and transactions are slowly becoming a reality.
This will help achieve the Duterte administration’s goal of financial inclusion for all Filipinos while improving the ease of doing business in the country.”
To give you some sort of a background, a few weeks back, President Rodrigo Duterte ordered all government offices and agency to simplify and make all transactions easier for the public.
This move by the BIR, clearly denotes that they are abiding by what our dear President wants.
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Tionko also said that the Department of Finance (DOF), is providing necessary and relevant support to the BIR and the Bureau of Customs (BOC) to improve the ease of doing business through digitalization. Moreover, she added that under the leadership of the Carlos Dominguez III, the DOF Secretary, all of these will be coming our way.
Dominguez said that digitalizing business transactions do not only help Filipinos; it also will attract foreign investors; this will create more jobs for the Filipino people.
The goal of the PESOnet-enabled project is to set up an interoperable digital bills payment service that is safe, reliable, efficient, and will benefit a greater number of Filipinos.”
Which banking institutions will participate in the launch of PESOnet?
PESOnet is a true blessing to the public, especially to those who use it. Now that the taxes can be paid online, everyone should familiarize themselves with the processes.
Read: The Updated Department of Finance (DoF) Tax Calculator
In order for this digital tax payments service to be effective, there should be banking institutions to back them. Both the Rizal Commercial Banking Corporation (RCBC) and the Land Bank of the Philippines (LandBank) would be the banks that would pilot and process electronic tax collection.
Tionko mentioned that together with the BIR, they are attempting to increase the number of participating banks that will further process tax payments via PESOnet.
BIR, as per the notice, will be the pilot “biller.” The tax collection or payment, on the other hand will be the pilot “bill” and RCBC and LandBank are the ones to process those.
The success of the pilot will allow the BSP to confidently approve the expansion of this service to all interested financial and commercial institutions.”
Is PESOnet authorized by the Bangko Sentral ng Pilipinas (BSP)?
Yes, in fact, PESOnet is a system which is mandated by the National Retail Payment System (NRPS) which is built and collaborated by the BSP. It is legal and it was thoroughly checked before it got launched.
Caesar Dulay, BIR Commissioner, said that PESOnet’s launch, the BIR will be able to serve more taxpayers. Not just that, he also said that the BIR can duly comply with the mandate of the law on the ease of doing business.
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The PESOnet is actually a win-win situation for both government agencies and the public. Why? Because not only will it simplify the business transactions done by the people, it will also attract more investors, create more jobs, and help different government agencies to abide by what the country-leaders goals are.
What do you think about the fact that taxes can now be paid online? Does this help you one way or another?
Source: DOF Website
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