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World Bank, Philippines plan major tax system digital upgrade



The World Bank is committed to assisting the Philippines in enhancing tax collection through comprehensive digitisation initiatives. During the World Bank-IMF Spring Meetings in Washington, Finance Secretary Ralph Recto and World Bank President Ajay Banga discussed the full digitalisation of the Philippines’ tax system to improve revenue and address leakages. Banga stressed the importance of building robust digital infrastructure, including digital identity, real-time payment systems, and reliable document storage to boost public service efficiency. The World Bank will support this transformation through workshops and strategic planning, focusing on increasing revenues and fostering long-term benefits. Additionally, the World Bank is supporting various sectors, including infrastructure, entrepreneurship, and agriculture, to enhance productivity and address food security in the Philippines.

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