The Department of Finance (DOF) has unveiled its comprehensive array of strategies designed to strengthen revenue operations and enhance transparency in commercial activities.
Under the banner of the BRAVE framework, the DOF, along with its revenue agencies, said it is leveraging digitalization and proactive measures to tackle economic threats head-on.
The BRAVE strategies encompass a range of initiatives, including Border Security Enhancement (B), Revenue Collection and Revenue-Base Protection (R), Adaptive Regulations and Compliance Monitoring (A), Vigilant Enforcement Operations and Vigorous Intelligence Gathering Activities (V), and Effective Engagement with Stakeholders and Inter-Agency Cooperation (E).
Finance Revenue Operations Group Undersecretary Charlito Mendoza said these strategies collectively aim to enhance efficiency, transparency, and accountability in revenue operations.
In the first semester of the year, the Bureau of Customs (BOC) seized billions worth of counterfeit goods, smuggled merchandise, cigarettes, tobacco products, and illegal drugs.
The BOC’ss Action Team Against Smugglers (BATAS) is also executing targeted enforcement actions, including profiling, case development, and legal proceedings against violators.
Meanwhile the Bureau of Internal Revenue (BIR), through its Run After Fake Transactions (RAFT) initiative, has successfully identified entities engaged in fraudulent transactions using mathematical modeling techniques.
The initiative has yielded substantial results, including the collection of additional taxes, issuance of assessment notices, and the filing of cases against perpetrators of fraudulent activities.
Furthermore, both the BIR and BOC have established Industry Consultative and Advisory Councils to foster collaboration with industry stakeholders.
Through regular consultations and briefings, regulators aim to ensure compliance, gather feedback, and promote transparency in regulatory processes.
The collaboration has borne fruit in the form of innovative projects such as the Swift Corporate and Other Records Exchange (SCORE) Protocol, enabling seamless data sharing between regulatory bodies for enhanced administrative efficiency.
Additionally, the full implementation of the ATA Carnet promises to showcase Filipino products on a global platform, opening doors for local businesses in international markets.
With this, Mendoza encouraged fellow government and industry partners to further intensify its collaborative efforts to fight against smuggling and unfair trade practices.
“Let us resolutely work together to protect our markets, uphold the rule of law, and secure a prosperous future for our nation,” he said.