Thursday , May 24, 2018

BIR to unveil tax campaign logo in Bacolod City today

THE Bureau of Internal Revenue (BIR) Region 12 is unveiling its 2018 tax campaign logo during the flag ceremony at the Revenue District Office 77 in Bacolod City Monday.

BIR Revenue Region 12 Director Eduardo Pagulayan Jr., who will lead the activity, said they will explain to the employees the meaning of the campaign logo this year.

Pagulayan said the unveiling is a simultaneous activity in all 19 BIR Regional Offices nationwide.

“This aims to let our employees understand, be inspired and motivated to serve the taxpayers and campaign for timely and correct payment of taxes," he added.

The BIR had earlier reported an initial collection of about P11.2 billion in taxes in 2017, which is 17.31 percent higher than almost P9.56 billion in 2016.

The increase in tax collections was attributed to the vibrant business climate in Negros Island.

The BIR had also said it has been implementing close monitoring coupled with strong appeal to taxpayers to improve their level of tax compliance.

BIR Region 12 covers revenue district offices in Bacolod City, Binalbagan town and Victorias City in Negros Occidental, Dumaguete City in Negros Oriental, and Siquijor Province.

“We were able to exceed the 2016 collection by P1.56 billion, but we were short of our target by four percent or about P500 million,” Pagulayan said.

He had earlier said that amid the changes brought by the tax reform law, they still expect an increase in tax collections this year.

The Tax Reform for Acceleration and Inclusion (Train) law exempts some workers from paying income tax while increasing the excise tax on various products, including fuel and sweetened beverages.

Under the new withholding tax table, workers earning P20,833 and below every month have no tax to pay.

The Train law also reduces the tax for self-employed workers. From 10 to 15 percent, it should be lowered to eight percent.

Taxpayers with dependents, on the other hand, are no longer exempted.

Despite the possible reduction in income tax collection, the BIR can still have higher collections through excise tax on various products, Pagulayan had said.