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Dominguez: Higher DoF budget mirror modernization need

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The Department of Finance’s (DOF) proposed P21.24 billion budget for 2022, which includes its attached agencies reflect the need to modernize governance and better delivery of services among such.

This was learned from Finance Secretary Carlos Dominguez III as he stressed on the need for such development to further fast track the digital transformation of the Department as well as its attached agencies.

Bulk or P10.9 billion of the budget will go to the Bureau of Internal Revenue (BIR), followed by the Bureau of Customs (BoC) with P4.35 billion and the Bureau of Treasury (BTr) with P4.23 billion.

“The BoC’s capital outlay will grow 21 times from last year’s budget because of the rollout of the Philippine Customs Modernization Project, which costs P1.58 billion,” the DoF said.

“Aside from the mandated adjustment of salaries under the Salary Standardization Law, the 20 percent hike in the BoC’s allocation for personnel services is also intended to increase its filled-up personnel positions,” it added.

While at it, the DoF explained the 21 percent hike in BIR’s fiscal expense was owed to the interest expense and financing charges for the lease-purchase agreement between the Bureau and the Land Bank of the Philippines to provide regional BIR offices with their own buildings to better serve the public.

The Office of the Secretary (OSEC) will receive P1.1 billion, 30 percent higher than its appropriations this year amid the increase in its maintenance and other operatin expenses.

Likewise, the OSEC will improve the Philippine Tax Academy, which is an essential institution that trains all revenue agencies to improve their competitiveness and expertise.

The remaining five DoF-attached agencies, Privatization and Management Office, Bureau of Local Government Finance, Insurance Commission, Central Board of Assessment Appeals and the National Tax Research Center–have a combined proposed budget of P723.2 million.

Further, if automatic (P1.64 billion) and unprogrammed appropriations (P210 million) and the budgetary support for government-owned and -controlled corporations (P95 million) are included, the total proposed DoF budget for 2022 will amount to P23.18 billion.

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