Philippines’ UnionBank calls for wider use of e-invoicing

Ramon Duarte, Union Bank of the Philippines (Unionbank) Executive Vice President and head of Transaction Banking and Platform Development, has strongly pushed for the wider use of electronic invoicing (e-invoicing) in the Philippines. He said this process will result in a more successful shift towards digital payments. It will also boost close coordination between the government and the private sector. Duarte said UnionBank, along with other financial institutions, is working with the government regarding digital receipts issuance. He noted that while processes, payments, and financing platforms have digitalised, the issuance of official paper receipts is still required. The Department of Finance (DOF) bids to complete the full shift towards an e-invoicing system by December this year in line with the government’s aim towards digital transformation of tax administration.