GOVERNMENT agencies and local government units (LGUs) signed on Wednesday a data sharing agreement to streamline real property valuation data and improve tax compliance, the Department of Finance (DoF) said.
“A data-sharing agreement was signed on the sidelines of the (Bureau of Local Government Finance) anniversary celebration to develop the Real Property Information System and all other digitalization systems under the Local Governance Reform Project (LGRP),” the DoF said in a statement.
“The agreement enables more collaboration to build a robust and comprehensive database system, enhancing the ease of doing business and strengthening data-sharing with the Bureau of Internal Revenue to improve tax administration.”
The BLGF, which serves as the DoF’s oversight agency for fiscal transparency and revenue collection, is overseeing the LGRP.
This seeks to harmonize policies and digitalize local fiscal management, especially in real property valuation and appraisal.
This is in support of Republic Act No. 12001 or the Real Property Valuation and Assessment Reform Act, which seeks to establish uniformity in taxing real property.
During the event, the BLGF also launched key projects to improve its operations: LGRP Manuals; Electronic Official Receipts and e-Ledgers; the turnover of information technology equipment; and the enhanced academic curriculum in real estate management.
Locally generated revenue by LGUs outside the National Capital Region have nearly doubled from 2019, the DoF said.
In a speech, Finance Secretary Ralph G. Recto said the BLGF aims to speedily carry out projects to improve transparency, digitalization, and the enhancement of the capabilities of LGU treasurers and assessors. — Beatriz Marie D. Cruz
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