The Japanese government has granted a P135-million fund to support the Department of Finance's (DOF) tax computerization program. The fund is part of the second phase of a Japanese government's P250-million Non-Project Grant Assistance–Counter-Value Fund (NPGA-CVF) approved in April 2005. "The P135-million-peso grant (NPGA-CVF) will support the Department of Finance (DOF) to enhance its efficiency and capability in generating, sourcing, and managing domestic and external financial resources of the Philippine Government through improved information assets including computerization and data integration for DOF and its attached agencies such as the Bureau of Internal Revenue and the Bureau of Customs," the Japanese Embassy said in its website. Japan said the project will help strengthen the DOF's capacity in:
revenue generation; fiscal management, and information dissemination. “The Government of Japan fully supports the Philippines' efforts to carry out fiscal reforms and thus, would like to contribute to its revenue generation program. We look forward to the success of this project, hoping that it will greatly help the Philippine Government in effectively generating revenues," Japanese Ambassador Makoto Katsura said. The Counter-Value Fund, which the Philippine Government accumulated by selling the commodities procured under Japan's Non-Project Grant Assistance, has enabled the Philippine government to implement various projects for its socio-economic development. According to the Japanese Embassy website, the grant supports the Philippine government's efforts to reduce poverty and improve its economic structure. It will also enhance the strategic partnership between the two countries, the Embassy said. According to the Japanese embassy, the Counter-Value Fund projects include: the Personal Computers for Public Schools (PCPS) Project (Phase 1-4), and the construction of the Philippine Judicial Academy Convention Center of the Supreme Court in Tagaytay City (inaugurated in May 2010). Japan has been the top Official Development Assistance (ODA) donor to the Philippines for many years. –VVP, GMANews.TV 
GMA Brandtalk
Tracking
Archives
