The Department of Finance, in partnership with private sector stakeholders, is leading a multi-sectoral working group focused on improving the country’s investment environment and creating more employment opportunities.
According to a Philippine News Agency (PNA) report on 15 October 2025, the Philippines’ Finance Secretary Ralph Recto ordered the creation of a multi-sectoral working group to address tax and non-tax concerns through digital solutions.
The multi-sectoral working group, led by the Department of Finance in collaboration with private sector partners, aims to strengthen the country’s investment climate and generate more jobs for Filipinos.
In a statement, the DOF said the directive came during a dialogue with the Makati Business Club (MBC) on Tuesday, where business leaders discussed key policy concerns and offered insights to help strengthen the Marcos administration’s efforts in improving the country’s investment environment.
Among the companies present were Mondelez Philippines, Unilever, SGV & Co., PepsiCo Philippines, the American Chamber of Commerce of the Philippines (AmCham), Texas Instruments, and Shopee.
The DOF said among the key issues raised was the implementation of Revenue Memorandum Circular (RMC) No. 5-2024, which clarifies the taxation of cross-border services involving non-resident foreign corporations.
During the meeting, Recto affirmed the government’s commitment to working with the business sector in reviewing existing tax circulars and identifying potential digital solutions that will make the tax assessment more transparent and efficient for stakeholders.
BIR Commissioner Romeo Lumagui Jr. also shed light on the issues raised in the said RMC.
The DOF said Lumagui agreed with Recto’s proposal for the MBC and the BIR to collaborate on proposed amendments to clarify key provisions.
Recto assured business leaders that the government is intensifying its digitalisation efforts across the board to eliminate corruption and increase efficiency in the delivery of public services.
He encouraged the private sector’s participation in accelerating the DOF’s digital transformation program, particularly in the Bureau of Internal Revenue, the Bureau of Customs and the Bureau of the Treasury.
According to the DOF, MBC chairperson Edgar Chua vowed to support the government by providing inputs and technology. (PNA)
