Paying taxes just got easier as the Development Bank of the Philippines (DBP) and the Bureau of Internal Revenue (BIR) introduced an online tax payment portal to receive payments 24/7.

Taxpayers can use Philippine-issued credit and ATM cards to pay their taxes by visiting the website www.DBPpaytax.com.

"It is available 24/7 or virtually non-stop, so there's no reason why taxes cannot be paid especially to the system," DBP Chairman Alberto Romulo said.

For security purposes, taxpayers will be required to key in a one-time password (OTP), which will be sent to their mobile phones.

The website is part of the BIR's program to increase tax collection revenue, which is already 6 percent short of its target for the first nine months of 2017.

"This will positively impact our fiscal performance and increase our government's budgetary room to finance our development projects," Department of Finance Undersecretary Antonette Tionko said.