As stated in Title IV, Section 16 of the Bangsamoro Autonomy Act No. 13 (Bangsamoro Administrative Code), the Bangsamoro Finance Office shall have the following functions:

1. Formulates goals, action plans and strategies for the Bangsamoro Government’s resource mobilization efforts;

2. Formulates, institutionalizes, and administers fiscal and tax policies for the Bangsamoro Government;

3. Supervises, directs, and manages the collection of Bangsamoro Government revenues;

4. Reviews and coordinates policies, plans, programs of Government Owned and Controlled Corporations (GOCCs) in the Bangsamoro Autonomous Region; 

5. Ensures the implementation of policies and measures on regional revenue and administration;

6. Coordinates with other ministries and offices on matters concerning fiscal policies, credit, economic development, international finance, trade investment;

7. Formulates the overall resource application strategy to match the Bangsamoro Government’s macroeconomic policy; and

8. Contributes to the preparation of the expenditure plan, especially on the programming, prioritization and financing of capital investment and current operating expenditure requirements of sectoral development plans.

9. Performs such other functions as may be delegated or assigned by the Minister, or as may be required by laws, rules and other regulations.

According to Section 15 of Chapter 5 of BAA No. 13, the BFO shall have the following five divisions: (a) Fiscal Policy Development Division; (b) Revenue Policy Development Division; (c) Corporate Affairs Division; (d) International and Other Finance Division; and (e) Strategy, Economics, and Results Division.  Each Division shall be headed by a Division Chief.

A. Fiscal Policy Development Division   

a. Formulate long-range, medium term, and annual projections of revenue needs, cash position, and borrowing capacity of the BG as a basis for the MFBM’s and the Government of the Day’s policy decisions;  

b. Supervise policy research and development on fiscal and tax measures undertaken by the operating bureaus and offices of the MFBM;

c. Assist in the overall macroeconomic planning process in coordination with the Bangsamoro Development Budget Coordination Committee (DBCC) by providing inputs to the BG’s annual and medium-term fiscal program;

d. Collect, monitor, review, consolidate, and analyze economic reports and data required for fiscal planning and policy formulation activities;

e. Consolidate the public sector financial position and public sector debt from reports provided by the Corporate Affairs Division, GOCCs, Bangsamoro Treasury Office, and LGUs; and

f. Coordinate with other ministries and offices on fiscal policy research as it impacts on fiscal and tax measures.  

B. Revenue Policy Development Division

The Revenue Policy Development Division (RPDD) is primarily responsible for tax policy formulation, legislative liaison work on tax, financial and economic proposals, and information dissemination activities.

Specifically, the RPDD performs the following functions:

a. Conduct studies and simulations and prepare MFBM position papers/comments on various tax and fiscal-related bills or on the tax aspects of other bills initiated by other agencies or legislators;

b. Draft tax reform bills for submission to the Government of the Day as well as shepherd the same in the Bangsamoro Parliament; and

c. Participate in the preparation or review of the IRR of various tax laws or laws with tax provisions.

C. Corporate Affairs Division 

a. Formulate, implement and monitor the implementation of policies affecting GOCCs in the BARMM, including their creation, consolidation, privatization and dissolution; 

b. Monitor the operations and cash flows of the government corporate sector in BARMM; 

c. Consolidate reports on the financial position, debts and other obligations of GOCCs in BARMM for inclusion in the public sector financial position and public sector debt of BARMM;

d. Provide technical support for the privatization of transferred accounts and government corporations; and

e. Provide technical support for solicitation of bids and evaluation of proposals for joint ventures or other public-private partnerships, including those with civil society organizations.

D. International and Other Finance Division 

a. Secure foreign grants and loans, and initiate and negotiate foreign borrowings and debt restructuring for the BG, in accordance with the Intergovernmental Fiscal Policy Board (IFPB) Guidelines on Foreign Grants to BARMM; 

b. Participate in policy formulation regarding external resource mobilization and coordinate with   other government agencies regarding international agreements on trade, investments, tax treaties, and other international arrangements; 

c. Provide advisory and technical support services in the formulation, evaluation, and execution of BG’s negotiating positions and options with respect to the refinancing, swapping or restructuring of external debts, flotation of bonds as well as new grants, loans and guarantees from bilateral and multilateral financial institutions;

d. Provide advisory and technical support services with respect to international economic, financial, and trade developments and their implications for the BARMM economy; 

e. Provide inputs into the formulation of fiscal, financial, foreign trade, and budgetary policies; and

f. Develop policies, plans and programs for the institutionalization of Islamic Banking and Finance in the BARMM, in cooperation with the National Government.

E. Strategy, Economics, and Results Division 

a. Formulate, manage and coordinate policy and structural reforms to transform the BARMM economy;

b. Provide strategic advice on fiscal policies and financial implications of the BG’s priority programs; 

c. Conduct fiscal and economic policy research to help formulate and support BG’s priority programs;

d. Simulate the economic impacts of strategic tax reforms and other fiscal initiatives; 

e. Develop strategy maps and plans to convert the priority socioeconomic agenda into executive and legislative actions from a fiscal perspective;  

f. Provide fiscal policy advice and inputs to MFBM officials, including the performance of quality assurance and review of the pronouncements and policy decisions of the MFBM Minister and the Government of the Day;

g. Prepare detailed implementation plans for the priority fiscal reforms in support of inclusive and sustainable growth; 

h. Monitor the progress and results of identified priority or reform programs and mitigate any emerging risks; and

i. Discuss and collaborate with development partners, public sector, private sector and other stakeholders to help deliver the BG’s priority programs.