Date Published: May 18, 2024

𝙇𝙚𝙖𝙧𝙣𝙞𝙣𝙜 𝙎𝙚𝙨𝙨𝙞𝙤𝙣 𝙤𝙣 𝙩𝙝𝙚 𝙋𝙧𝙤𝙥𝙤𝙨𝙚𝙙 𝘽𝙖𝙣𝙜𝙨𝙖𝙢𝙤𝙧𝙤 𝙍𝙚𝙫𝙚𝙣𝙪𝙚 𝘾𝙤𝙙𝙚: 𝙁𝙤𝙨𝙩𝙚𝙧𝙞𝙣𝙜 𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙘 𝘼𝙪𝙩𝙤𝙣𝙤𝙢𝙮 𝙖𝙣𝙙 𝘿𝙚𝙫𝙚𝙡𝙤𝙥𝙢𝙚𝙣𝙩

In a momentous gathering held in Manila on April 16-17, 2024, MP Froilyn Tenorio Mendoza, along with other ministries, finance experts, economists, legal luminaries, and members of the Bangsamoro Transition Authority (BTA) Parliament, participated in a learning session focused on the proposed Bangsamoro Revenue Code. The session aimed to discuss policy, economic, and cultural considerations, as well as the salient features and the process of formulating the code. Engaging Experts for Comprehensive Formulation, the Ministry of Finance and Budget and Management (MFBM) played a pivotal role in ensuring the engagement of a pool of experts. Their expertise was sought to guarantee that all factors relative to revenues, including both tax and non-tax collections, were thoroughly considered in the formulation of the fiscal and revenue measures. This comprehensive approach aims to create a robust and inclusive system that caters to the unique needs of the Bangsamoro region. Continual Enhancement for Economic Support and Fiscal Autonomy, the MFBM confirmed its commitment to continually enhance the proposed measure. The objective is to ensure that the Bangsamoro Revenue Code effectively supports the local economy and contributes to the region's fiscal autonomy. By incorporating feedback and expertise, the code will be refined to align with the evolving needs and aspirations of the Bangsamoro people. Learning Session at the Asian Development Bank, to further enrich the discussion and foster collaboration, the Committee on Revenue Code conducted a two-day learning session at the Asian Development Bank (ADB) in Ortigas, Pasig. Chaired by the Committee on Finance, Budget, and Management Minister, Atty. Ubaida Pacasem, the session focused on the key features of the regional code of the Bangsamoro, policy formulation, regional policy framework, and strategies to improve reform and development. Culturally Sensitive Priority Legislation, during the learning session, the Chief Minister emphasized the importance of aligning priority legislation with the Revenue Code of the Bangsamoro while being culturally sensitive. This approach aims to contribute to self-sufficiency and actively involve all stakeholders in the discussion to facilitate transitional arrangements. It is a reaffirmation of the fiscal policy of the Bangsamoro, ensuring that the code reflects the region's unique cultural context. Advancing Economic Autonomy and Development, the learning session on the proposed Bangsamoro Revenue Code marks a significant step forward in the region's journey towards economic autonomy and development. The collective expertise and commitment of all participants, including MP Froilyn Tenorio Mendoza, various ministries, finance experts, economists, legal luminaries, and BTA Parliament members, are instrumental in shaping the code to meet the needs and aspirations of the Bangsamoro people. As discussions continue and the learning session at the Asian Development Bank approaches, the Bangsamoro Revenue Code will be further refined and strengthened. This collaborative effort will pave the way for a more prosperous and self-sustaining Bangsamoro region, fostering economic growth, fiscal autonomy, and a brighter future for its people.