Vision
PCCI is the voice of Philippine business recognized by government and international institutions. As a proactive catalyst of development, PCCI promotes and supports the drive for globally competitive Philippine enterprises in partnership with government, local chambers, and other business organizations.
Mission
The main responsibility of PCCI is to provide focused advocacy for business growth and sustainable development by providing business services for the advancement of grassroots entrepreneurship, chamber development, international trade relations, business innovation and excellence, and operating efficiency. These will be achieved through a professional organization working in close cooperation with various stakeholders in public and private sectors.
Senate convenes TWG on bill aiming to modernize tax administration
The Senate Committee on Ways and Means chaired by Senator Win Gatchalian held technical working group (TWG) meetings to thoroughly discuss and scrutinize line-by-line the draft bill on Ease of Paying Taxes (EOPT) that the committee is preparing. Among the TWG members are representatives from the Department of Finance, Bureau of Internal Revenue, Management Association of the Philippines, Tax Management Association of the Philippines, Du-Baladad and Associates, SM Investments Corp, and PCCI. Last year, the EOPT bill passed the third and final reading in the House of Representatives wherein it said that the bills aim to modernize tax administration.
The draft bill of the senate committee proposes the following:
Establishing a classification of taxpayers
The bill permits the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, to establish reasonable criteria for classifying taxpayers. It should consider the taxpayer’s capacity to comply with tax rules and regulations, the amount and type of taxes to be paid, the gross sales and/or receipts of the taxpayer, inflation, the volume of business, wage and employment levels, and similar economic and financial factors.
For every class of taxpayers, the BIR shall provide for a special unit to cater to the needs of taxpayers under such classification.
Simplification of venue and mode for the filing and paying of national internal revenue taxes
The proposed bill removes restrictions on payment venues and allows taxpayers the option to comply manually or electronically in accordance with and support of the current administration's drive toward digitalization.
Uniformity on the timing for the recognition of VAT for both sales of goods and services
The bill seeks to harmonize the requirement for VAT documentation for every sale, barter, or exchange of goods or properties, lease of goods or properties, and for every sale, barter, or exchange of services.
The committee is presently finalizing its working draft and circulating it to the members of the TWG for comments before it is again presented and debated at the senate plenary session.