Wazzup Pilipinas!?
The Bureau of Internal Revenue (BIR), under Commissioner Romeo D. Lumagui Jr., reaffirms its commitment to enhancing ease of doing business and attracting more local and foreign investments through its active role in the Investment Facilitation Network (INFA-Net), a platform of 36 government agencies originally created under a Memorandum of Agreement and further operationalized through a Joint Memorandum Circular (JMC) aligning with Executive Order No. 18, s. 2023.
“I have ordered all BIR offices to assist and prioritize all local and foreign investors, particularly strategic investment, under the Investment Facilitation Network. This is in line with PBBM's call to make the Philippines a top investment destination. The BIR will do its role in attracting investors. Nation-building requires both the public and private sector to work together, in harmony.” Commissioner Lumagui stated.
Under the JMC, the BIR plays a vital role in supporting the facilitation of strategic investments. It is tasked with expediting taxpayer registration processes for investments endorsed by the BOI’s One-Stop Action Center for Strategic Investments (OSAC-SI). The BIR is also mandated to further streamline its internal procedures for the issuance of permits and licenses related to investment requirements and to act on applications within the prescribed timeframes in its Citizen’s Charter. All these are aligned with the Bureau’s priority program of providing excellent taxpayers’ service.
To ensure responsive and coordinated service, the BIR shall monitor and document investment-related issues, provide timely follow-ups, and maintain a database of frequently asked questions. It shall submit monthly updates to the BOI on the status of applications related to strategic investments indorsed to the BIR, along with progress reports on the JMC’s implementation. A designated focal person shall be assigned to ensure efficient coordination with INFA-Net. Furthermore, the BIR shall provide OSAC-SI with relevant training modules, technical assistance, and other facilitation services to strengthen investor support mechanisms.
The BIR recognizes that a collaborative and efficient investment facilitation framework is vital to sustaining investor confidence and building a more competitive Philippine economy. Through its active involvement in the joint initiative, the BIR remains fully committed to advancing the Philippine’s development goals and uplifting the quality of life of all Filipinos.
Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.
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