Union Bank of the Philippines is the first and only privately owned bank to link up directly with the Bureau of Internal Revenue (BIR) to offer an alternative payment channel, where individual taxpayers and SMEs can pay their taxes online through UnionBank internet and mobile applications. This partnership is in line with the bank’s digital transformation strategy, as it continues its aggressive push to onboard government transactions in a bid to provide convenient and inclusive financial solutions for all Filipinos.
Through the partnership with the BIR, UnionBank provides its clients a direct, free and easy way to pay their tax dues as the bank is directly linked to BIR’s system. In just a few seconds and just a few clicks, customers can pay their taxes online 24×7, without any re-routing to different websites, and is completely free of charge.
Launched last April, this e-tax payment project is currently available to retail customers via UnionBank Online, and to SMEs through The Portal.
This saves thousands of Filipino small business owners, self-employed professionals, and freelancers from the hassle of falling in line in banks just to pay their taxes.
“We are very excited to launch this project as it is fully aligned with the bank’s digital transformation initiative which we embarked on three years ago,” said UnionBank Executive Vice President and Transaction Banking Center Head John Cary Ong, referring to the end goal of the bank’s transformation which is to achieve greater financial inclusion. “We are delighted to be the first privately-owned bank to allow our clients to settle their tax obligations via our digital channels.”
Taxpayers who do not yet have a UnionBank account can also enjoy this pioneering UnionBank tax e-payment platform by simply signing-up for a Taxumo account. Local startup Taxumo, the Philippines’ pioneering online tax filing and payment platform for freelancers, self-employed professionals, and small business owners, is supporting the partnership between the BIR and UnionBank.
Taxpayers can go to www.taxumo.com and have their tax dues auto-computed and BIR forms auto-filled. With a few clicks, their tax dues will be seamlessly paid through UnionBank’s e- payment platform.
BIR Deputy Commissioner for Information Systems Group Lanee Cui-David said they are hopeful that this partnership between BIR and UnionBank will significantly reduce the number of manual and over-the-counter transactions.
“We thank UnionBank for this partnership and for the bank’s openness in supporting BIR’s efforts to reduce the compliance burden shouldered by our taxpayers,” she said.
BIR Commissioner Caesar Dulay echoed David’s sentiment, saying he is optimistic that the new system will help the bureau achieve the government’s vision of making transactions with government agencies simple and orderly for Filipinos, in the process improving tax compliance and collection.