Myeg’s Joint Venture in the Philippines Launches Online Payment Services for Income Tax and Economic Zone Fees

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MYEG Services Bhd (MYEG) announced that its 40%-Philippines joint venture (JY) I-Pay MYEG Philippines Inc (MYEG Philippines) is launching two e-government services in the Philippines — online income tax payment to the country’s Bureau of Internal Revenue and fee payment to the Philippine Economic Zone Authority (PEZA).

MYEG claimed that online income tax payment will be available on its internet site in October of this year.

“Made possible via a collaboration with the Bureau of Internal Revenue, the service will enable Filipinos to meet their tax payment responsibilities without physically queuing at government counters,” the company stated in a statement.

“Our role is to bolster and assist the government in providing convenient internet transaction methods for citizens. We are grateful for the opportunity to provide this service to the Internal Revenue Service and to taxpayers “Ann Saldana, chief executive officer of MYEG Philippines, stated.

Meanwhile, PEZA members who previously had to pay their dues in person at PEZA’s offices using cash or company cheques during business hours can now pay their dues online at any time, with a variety of payment alternatives. This month, PEZA launched its online payment service.

MYEG Philippines, a joint venture created in 2017, is on track to achieve profitability in its first full year, Saldana added.

“With the addition of numerous additional agencies, we believe we can achieve considerable growth in the next years,” Saldana continued.

“The addition of the Bureau of Internal Revenue and PEZA payment services to the growing list of key government agencies partnering with MYEG, which includes the National Bureau of Investigation, the Philippine Health Insurance Corporation, the Land Bank of the Philippines, and a number of Local Government Units such as Ilagan City and Baler, Aurora,” the company said.

MYEG’s shares declined two sen or 2.14 percent to 91.5 sen, valuing the firm at RM6.75 billion.

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