Manila: The Bureau of Internal Revenue (BIR) is ramping up efforts to support local and foreign investors consistent with President Ferdinand R. Marcos Jr.'s goal of making the Philippines a premier investment destination.
According to Philippines News Agency, BIR Commissioner Romeo Lumagui Jr. announced through his official Facebook page that he has directed all BIR offices to assist and prioritize local and foreign investors, especially those involved in strategic investments under the Investment Facilitation Network. This directive aligns with the President's ambition to position the Philippines as a leading investment hub, emphasizing collaboration between the public and private sectors for nation-building.
As a member of the Investment Facilitation Network (INFA-Net) - a 36-agency body created under Executive Order No. 18 - the BIR aims to expedite the registration and processing of investments endorsed by the Board of Investments (BOI) and simplify tax-related requirements for strategic investments. The Joint Memorandum Circular governing INFA-Net tasks the BIR with ensuring timely taxpayer registration, streamlining the issuance of permits and licenses, and promptly processing investment-related applications.
The BIR is specifically responsible for efficient taxpayer registration for investments endorsed by the BOI's One-Stop Action Center for Strategic Investments (OSAC-SI). It will also expedite the processing of necessary permits and licenses, adhering to the timelines outlined in the Citizens Charter. To facilitate this, the BIR will designate focal persons in its offices to handle INFA-Net concerns and regularly report to the BOI on investment endorsements. Additionally, the BIR will provide technical assistance through training modules and knowledge-sharing initiatives.
The involvement of the BIR in INFA-Net is part of broader government efforts to promote ease of doing business in the Philippines. Earlier this year, the agency issued Revenue Memorandum Circular No. 37-2025, which aims to streamline value-added tax (VAT) refund processes for exporters and businesses under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. These reforms are intended to eliminate redundant requirements, reduce processing times, and enhance inter-agency coordination, thus making the country more business-friendly for both local and foreign enterprises.
