Fintech Alliance PH Founding Chairman Lito Villanueva shares his insights in a panel discussion about online transactions and taxation in the digital economy during the 2024 International Tax Investment Conference.The Founding Chairman of FinTech Alliance.
Lito Villanueva spotlighted the Philippines’ rise in the 2023 Network Readiness Index during a discussion on Online Transactions and Taxation in the Digital Economy. Among three ASEAN countries to improve its ranking, the Philippines advanced two spots from 71st to 69th globally. Villanueva attributed this progress to the robust gig economy, increased ICT services exports, and the expanding e-commerce sector.
Joining Villanueva on the panel were Department of Trade and Industry Undersecretary Mary Jean Pacheco, Blockchain Council of the Philippines President Dr. Donald Lim, Spanish Chamber of Commerce and Industry Legal Counsel and Corporate Secretary Atty. Mark Tiaoqui, and European Chamber of Commerce and Industry Tax and Financial Services Committee Vice Chairperson Atty. Alden Labaguis.
Villanueva urged tax and investment leaders to prioritize collaboration and technological advancement, shaping both Philippine and global economies’ future. Drawing from his 20+ years of expertise in digital transformation and financial inclusion, he emphasized the need for business-conducive environments that prioritize financial inclusivity for Filipinos.
“As digital payments and e-commerce surge, we bear the responsibility to adapt to these technological advancements while ensuring a safe and regulated environment grounded in financial inclusivity. Collaboration is key—a unified effort is essential for our digital economy’s rapid growth, leveraging diverse channels and opportunities for progress,” Villanueva emphasized.
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