Lawmaker: Marcos should fast-track Ease of Tax Act
Albay 2nd District Rep. Joey Salceda (FILE PHOTO)
MANILA, Philippines — Albay 2nd District Rep. Joey Salceda urged President Ferdinand “Bongbong” Marcos Jr. to certify as urgent the Ease of Paying Taxes Act.
“Bringing the tax system into the 21st century will be a [Marcos] legacy. So, respectfully, I request the President to certify this measure as urgent, considering that he has already mentioned this as a priority in both State of the Nation Addresses,” Salceda said in a statement on Saturday.
Salceda, who is also the principal author of House Bill 4125, said the Senate counterpart of the measure — Senate Bill 2224 — is now being deliberated and in the period of interpellation.
Salceda pointed out that the Ease of Paying Taxes (EOPT) Act will “simplify tax filings” for small and medium enterprises, allow most tax processes to be done online, and shift to an invoice system to accelerate value-added-tax refunds.
Apart from these, it will also kickstart the creation of a special division in the Bureau of Internal Revenue for small and medium taxpayers.
“We are a highly global people, and the EOPT will allow taxpayers abroad, especially overseas Filipino workers to update their tax records and even file for TINs anywhere. Many of them want to invest here, or settle land issues here, but they cannot, because they can’t do their taxes remotely,” Salceda explained.
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