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POS machine interlink backed

Various institutions led by the National Tax Research Center (NTRC) have expressed their support for a Department of Finance (DoF) proposal on the mandatory connection of point-of-sale machines of businesses to the Bureau of Internal Revenue and the use of electronic receipts as part of the tax administration reforms under the Comprehensive Tax Reform Program (CTRP) to improve collection efficiency.
According to NTRC executive director Trinidad Rodriguez, using digital technology “will facilitate real-time or near real-time collection and assessment of taxpayers data” by the BIR.
Thus, “the NTRC fully supports the proposed electronic interconnectivity of businesses’ cash registers and point-of-sale machines to the BIR system for simultaneous recording and transmittal of tax data,” said Rodriguez at a recent hearing of the Ways and Means Committee of the House of Representatives on the proposed CTRP.
Package One of the DoF’s CTRP is contained in House Bill 4774, which was authored by Quirino Rep. Dakila Carlo Cua, who chairs this House panel.
Finance Secretary Carlos Dominguez has welcomed the move by this Cua-chaired House committee to “approve in principle” the first phase of the CTRP before the Lenten break of the Congress.
Dominguez said the decision of the committee to pass tax reforms as a package rather than on a piecemeal basis is a step closer for the Congress to help the Duterte administration fund its ambitious agenda to sustain the high-growth momentum, dramatically cut poverty and transform the country into a high middle-income economy by 2022.
He expressed the hope that the other members of the House of the Representatives as well as the senators would similarly see the urgency of passing this tax reform package in full “to set the economy on its irreversible path to high — and inclusive — growth under the Duterte presidency.
The House ways and means panel voted in its eight public hearing on the CTRP to “approve in principle” tax reform as a package and not on a piecemeal basis, subject to the creation of a Technical Working Group that would draw up a substitute bill consolidating the proposed reforms by the DoF with other tax-related proposals by the lawmakers.

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