The Philippines is currently ranked 113th based on the 2018 Ease of Doing Business Report of the World Bank Group. This is 14 notches lower from the previous year which is 99th.
One of the criteria being assessed in the said rankings is “Paying Taxes” where Philippines is ranked 105th. The Bureau of Internal Revenue introduced the online platform eBIR last September 2014 to make it more convenient for taxpayers to file and pay their taxes. The first year of implementation was a pandemonium but the succeeding years have become smoother compared to its pilot year.
Despite the initiatives made to simplify business registration, we still have a long way to go before we can be at par with countries such as Singapore, Hong Kong, New Zealand among others.
Fortunately, Asian Consulting Group (ACG) has come up with the TaxWhizPH app that will make a disruption on how we pay our taxes. Headed by the Philippine Tax Whiz, Mon Abrea, ACG believes that through technology, combined with the vision to make things simpler, fairer, and more efficient, we will be able to convince more taxpayers to voluntarily comply.
Here are the five things you need to know about this mobile app:
1. What is the TaxWhizPH App?
Asian Consulting Group (ACG), where the Philippine Tax Whiz Mon Abrea serves as the founding President, introduces the TaxWhizPH app, an on-the-go, all-in-one app that will ease the burden of the taxpaying public especially the Self-Employed and Professionals (SEPs) in paying their taxes correctly and on time.
Although admittedly not an expert in IT, Abrea has always been an adamant believer that technology, if utilized well, can bring wonders. As an advocate for a genuine tax reform, he believes that we need a simpler, fairer and more efficient tax system through legislative and administrative means. But the taxpaying public also has to give its fair share of contribution in achieving this goal. That is why ACG has come up with the Tax Whiz Mobile App that will create a platform intended to improve taxpayer experience.
The app was officially launched during the Asia CEO Tax Forum held at the Manila Marriott Hotel in Pasay last February 20, 2018. The event was well attended by CEOs from different industries who were all ears to hear about the TaxWhizPH app as well as updates from the BIR regarding their initiatives on simplifying administrative processes.
2. What are its features and how it can help me in complying and paying taxes correctly and on time?
The main objective of the TaxWhizPH app is to simplify how taxpayers file and pay. Eventually, you won’t be needing an accountant anymore as you will be able to do it by yourself.
One of the notable features is that it can scan your receipts just by taking a photo of it and extract the important details. Then, it will generate tax forms for you in a snap and automatically validates the information. In fact, it can generate tax forms of the BIR such as 2550M, 2550Q, 1601C, 1601EQ, 1601F, 1604CF, 1604E, 1701Q, 1701, 1702Q, 1702.
Furthermore, it will be linked to the eBIR platforms of the BIR as well as a partner bank to make filing and payment right at your fingertips. No need to waste your time and energy going under the scorching heat of the sun just to line up and pay through banks!
Having a built-in Tax Calendar, it will also serve as your assistant in providing tax alerts regarding new issuances by the BIR as well as reminding you of the important BIR deadlines such as Monthly VAT every 20th of the month, Withholding Tax on Compensation every 10th of the month, Annual Registration Fee every 30th of January, Annual Income Tax Return every 15th of April among others. Thus, avoiding paying unnecessary penalties and compromises.
3. Who will benefit from this?
The TaxWhizPH app is intended to make life easier for the Self-Employed and Professionals (SEPs) who, in general, have a hard time dealing with their taxes which resorts to getting assistance from third-party bookkeepers and accountants. The target pilot users will be the more than 125,000 Grab-Uber drivers, as well as real estate brokers, insurance agents, TV & media personalities, doctors, architects, etc.
The BIR will also benefit from this as it intends to widen the taxpayer base. Based on the 2016 BIR Annual Report, there are only around 2.7 million registered SEPs.
4. Is this supported by the Bureau of the Internal Revenue (BIR)?
Asian Consulting Group met with the Informations System Group of the Bureau of Internal Revenue (BIR), headed by Atty. Lanee David to present how they can help the BIR through the mobile app. The BIR is very supportive with this initiative and willing to link the mobile app to their system.
Moreover, the team met with the heads of the Bank of the Philippine Islands (BPI) to get them onboard as well and provide the payment facilities for the mobile app.
From left to right: Jing Santos Remo (BPI Senior Vice President-HR), Jenny Galang (JuanTax Chief Operating Officer), Marvin Galang (JuanTax Founder and President), Mon Jocson (BPI Executive Vice President), Mon Abrea (ACG Founding President), Noel Santiago (BPI Group Head-eChannels, Financial Products and Services), Julianne Enriquez (BPI Head-Product Management) and Jonas Macario (ACG Development Manager)
5. When can we expect the mobile app to be downloaded?
Android users can already download it via Google Play Store. Just type “TaxWhizPH.” It will also be available for iOS users soon.
For receive updates about the TaxWhizPH, subscribe now at app.acg.ph for FREE.
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