ACG Founding Chairman Mon Abrea discussed the reforms needed by the Philippine tax system at the Asia CEO Forum. The event was held at the Marriott Grand Ballroom, Resorts World Manila on Friday, February 22. With the topic of “Tax Reform Now,” the tax expert discussed the state of the Comprehensive Tax Reform Program (CTRP).
The Philippine Tax Whiz first discussed the problems of the current tax system – both in administration and in policies. He then proceeded to discuss the solutions these problems require. The government’s solution is the ongoing Comprehensive Tax Reform Program.
However, according to the tax reform advocate, this is not enough. A genuine tax reform requires not only policy reforms but also administrative reforms. Recently appointed as the co-chair of the Ease of Doing Business Task Force on Paying Taxes, the tax expert aims to propose these administrative reforms.
By improving the ease of paying taxes, these reforms take a two-pronged approach: addressing leakages and broadening the taxpayer base. Then with easier tax compliance, taxpayers will no longer feel daunted by the complex system, thereby encouraging them to comply.
Currently, the number of registered taxpayers is dismal in comparison to the working population in the country.
Administrative reforms will also address issues of smuggling, corruption, and tax evasion which result in billions of lost revenues.
The Asian Consulting Group has also presented its own contribution to improving the Ease of Paying Taxes in the country.
Launched at the Ease of Doing Business Forum on January 30, 2019, the TaxWhizPH Mobile App aims to make such tax compliance easier. Its features include the automatic generation of reports and automated data entry, among many others. What’s more, t
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