State-run Land Bank of the Philippines (LANDBANK) expressed its continuous support for the Bureau of Internal Revenue’s (BIR) tax collection modernization efforts, as the Bureau launched a renewed campaign to enhance taxpayer services to be more accessible, secure, and convenient.
Alongside the United States Agency for International Development (USAID) and other financial institutions, LANDBANK joined the BIR’s “Taxpayer FIRST” initiative, which stands for Fast, Innovative, Reliable, Secure, and Technology-driven developments to drive better tax administration.
Prior to the campaign launch on 10 December 2021, LANDBANK has already been providing taxpayers with a safe, reliable, and efficient online payment solution to conveniently pay their taxes through its Link.BizPortal facility.
“The LANDBANK Link.BizPortal fits BIR’s ‘Taxpayer FIRST’ campaign as it offers fast payment transactions; provides an innovative and cashless solution; round-the-clock reliability and accessibility; secure and real-time processing; and the latest technology to facilitate transactions via computers and mobile devices,” said LANDBANK President and CEO Cecilia C Borromeo.
The Link.BizPortal allows customers to pay tax liabilities online via the BIR or LANDBANK websites, thereby eliminating the need to wait in line at BIR regional and district offices.
The Bank also underscored the sustained increase in the usage of the Link.BizPortal for tax payments, from recording 6,466 transactions in 2017 to 399,597 in 2020.
For the first 10 months of 2021, the LANDBANK Link.BizPortal has successfully facilitated 530,546 tax payment transactions amounting to P1.3 billion, representing increases of 65% and 78%, respectively, compared to the same period last year.
Aside from tax payments, the LANDBANK Link.BizPortal also allows individuals and institutional customers to pay for various products and services online for over 800 enrolled partner-merchants nationwide.
From January to October 2021, the Link.BizPortal has facilitated a total of 3.26 million transactions worth P8.38 billion, for 90% and 22% growth rates year-on-year, respectively. The upsurge is consistent across LANDBANK’s major electronic channels, which have collectively recorded a 54% rise in value, totaling an unprecedented P1.88 trillion.
LANDBANK’s digital banking platforms promote efficient payment systems in support of the National Government’s Ease of Doing Business initiative. (PR)
