Philippines enacts new law to make paying of taxes easier

MANILA: President Ferdinand Marcos Jr signed into law last Friday (Jan 5) Republic Act No. 11976, or the Ease of Paying Taxes Act, which aims to shore up government revenues needed to fund social and infrastructure projects by making it easier for Filipinos to pay their taxes.

The Presidential Communications Office said in a statement on Sunday: “The law will modernise and increase the efficiency and effectiveness of tax administration and strengthen taxpayer rights, and allow the government to capture as many taxpayers as possible into the tax net by streamlining the system and minimising the burden on taxpayers, increasing the country’s revenue collection in the long run.”