Gov't Sets Digitization Thrust

The Department of Finance (DOF) under Secretary Carlos Dominguez III has beefed up its digitization initiatives, which include facilitating trade online and making the filing of tax exemptions more convenient to better serve the public and improve its oversight functions and policy-making processes.

Photo Insert: Finance Secretary Carlos Dominguez III

Dominguez said these modernization initiatives include the enhancement of the DOF’s Tax Exemption System (TES), which was replaced by the web-based TESlite to make it easier and more convenient for importers to apply for tax and duty exemptions with the Department’s Revenue Office.

“These digitalization initiatives include heightened security measures to make our systems safe from malware and possible cyber attacks,” Dominguez said.

Dominguez said the DOF has also put in place the GOCCs (Government-Owned and -Controlled Corporations) Liabilities and Monitoring System or GLaMS, which is an enhanced web-based system for the reporting and processing of data pertaining to the debts and liabilities of state-run firms.

The GLaMS covers national government (NG)-guaranteed, on-lending from NG, and non-NG guaranteed loans, as well as the loan status, and other forms of liabilities, contractual obligations, and other relevant information related to GOCC debts.

“It aims to streamline the GOCCs’ data reporting process through paperless and direct input from the GOCCs. This provides us a comprehensive set of debt data and other information about the liabilities of GOCCs to better assist the DOF in its debt analysis and formulation of financial strategies for these state-run corporations,” Dominguez said.

Dominguez said that with the DOF’s active engagement in assisting Congress in crafting proposed reforms in the tax and financial systems, the Department has set up a Legislative Management Portal (LMP) to help its officials monitor the status of bills filed in the legislature.

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