The electronic invoicing (e-invoicing) system could help curb corruption and restore public trust by improving transparency in tax transactions, according to BusinessWorld, citing Deloitte Philippines.
Deloitte Philippines noted that e-invoicing can reduce opportunities for fraud and enhance tax compliance by creating a digital audit trail. However, the government’s technological capacity to implement and maintain the system, along with taxpayer awareness, remain significant challenges.
The report underscores the need for investments in IT infrastructure and public education to fully realize the anti-corruption potential of e-invoicing. Without addressing these issues, the system's effectiveness may be limited.