Taxumo, an online tax compliance platform, just released its State of Online Taxation report for 2024 showing that the top online taxpayers in the Philippines are millennials, followed closely by Gen Zs.
The report showed that 75% of the online income filings in 2024 were from millennials — a generation born between 1981 to 1996.
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Meanwhile, the number of online taxpayers in the Gen Z bracket (born between 1997 to 2012) grew significantly to 12.7% this 2024 from 9% last year.
The report points out this generation’s early entry into the workforce to their growing economic influence and how they prefer digital solutions in managing their financials.
Taxumo’s data also highlights Gen Z’s adaptability and forward-thinking approach to economic engagement.
The data shows that female millennials is the category with the most online taxpayers, amounting to 42.9%. They are followed by female Gen Zs at 10.6%.
Tax collections handled by Taxumo have grown by ~58.45% year-on-year despite strong economic challenges — an indication that digitalization improves ease of compliance, which encourages more people to pay taxes.
The Bureau of Internal Revenue (BIR) also reported a positive 11% tax collection increase in April 2024.
You can read Taxumo’s full report here.