fintech

BIR adds another digital tax payment option with PayMaya

Financial services company PayMaya Philippines (PayMaya) partners with the Bureau of Internal Revenue (BIR) in offering another cashless payment tax option. Individual taxpayers can use the PayMaya app (available for Android and iOS devices) or through the BIR website (this be available soon).

In a news report, BIR attributed the doubling of its tax collections to the plethora of options with the advent of digital channels. The BIR said tax collections through electronic channels jumped 92% or P1.2 billion in 2019 from P626.4 million in 2018.

BIR Deputy Commissioner Lanee David said the BIR aims to become a digitally transformed institution by developing its IT capabilities to better serve the public.

Have you read PayMaya: Stronger ecosystems key to achieving PH goal of 30% digital payments this year?

“By providing more convenient and reliable services we have been able to implement a wide range of electronic services,” David said. “But the constantly changing economic and corporate landscape of the Philippines and the global community, demands (are increasing) that we continuously explore ways to improve our electronic services.

Electronic transactions

“Our mission (at PayMaya) is to be relevant, useful, and helpful to the taxpaying public and to the country in general.”

– Orlando B. Vea, founder and CEO, PayMaya.

“This year, we aim at processing 1 trillion in digital payment transactions as a response to the Bangko Sentral ng Pilipinas’ objective of increasing electronic transactions to 30% this year and 50% by 2023,” Vea said.

By going to the Bills Pay section of the PayMaya app, individual taxpayers can skip the line and pay their taxes anywhere using only their mobile phones anytime, 24/7.

Soon, PayMaya will also be enabling the agency with the capability to accept payments from PayMaya users using only their mobile numbers through the BIR website, as well as a facility to allow Filipinos to pay taxes using any credit, debit, or prepaid card.

Aside from bringing convenience and time-saving benefits to many tax-paying Filipinos, the partnership also enables them to earn a cashback when they pay their taxes with PayMaya–the most rewarding mobile wallet in the Philippines today.

Account-holders who will pay their BIR taxes via PayMaya on Feb. 15, 16, 22, 23, and 29 are entitled to a one-time P100 cashback if their BIR payment is among the first three unique biller payments made during the promo period. All they have to do is pay at least P1,000 for their tax payment to qualify for the bills payment promo for February.

To pay taxes via PayMaya, simply follow these steps:

1. Log in to your PayMaya account and click on the “Pay Bills” option.

2. Look for the BIR logo or type BIR in the search box

3. Enter all pertinent details for your tax payment, including your Taxpayer Identification Number (TIN), Branch Code, Amount, Revenue District Office (RDO) Code, Form Series, Form Type, Tax Type, and Return Period.

4. Finally, enter the email address where you want to receive the receipt for your payment.

5. Verify the information you entered and click “Pay”.

A notification will be sent via the app, via SMS, as well as via the email address you entered as proof of your payment.