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.
In a post in his official Facebook page on Tuesday, BIR Commissioner Romeo Lumagui Jr. said he has directed “all BIR offices to assist and prioritize all local and foreign investors, particularly strategic investment, under the Investment Facilitation Network.”
“This is in line with PBBM’s call to make the Philippines a top investment destination. The BIR will do its role in attracting investors. Nation-building requires both the public and private sector to work together, in harmony,” Lumagui said.
As a member of the Investment Facilitation Network (INFA-Net) — a 36-agency body created under Executive Order No. 18 — the BIR will fast-track the registration and processing of investments endorsed by the Board of Investments (BOI), as well as simplify tax-related requirements for strategic investments.
Under the Joint Memorandum Circular that governs INFA-Net, the BIR is tasked to ensure timely taxpayer registration, streamline the issuance of permits and licenses, and promptly process investment-related applications.
In particular, the BIR is responsible for ensuring efficient and expedited taxpayer registration for investments endorsed by the BOI’s One-Stop Action Center for Strategic Investments (OSAC-SI). It is also expected to simplify and fast-track the processing of permits and licenses required for such investments, in accordance with the timelines set by the Citizens Charter.
The BIR will designate a focal person in its offices to handle INFA-Net concerns, and will also regularly report to the BOI on the progress of investment endorsements and provide technical assistance through training modules and knowledge-sharing.
The BIR’s involvement in INFA-Net is part of government efforts to promote ease of doing business in the country.
Earlier this year, the agency issued Revenue Memorandum Circular No. 37-2025 to streamline value-added tax (VAT) refund processes for exporters and businesses, pursuant to the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
The reforms remove redundant requirements, cut processing time, and improve inter-agency coordination to make the country more business-friendly for legitimate local and foreign-based enterprises. (PNA)
