Tuesday , June 19, 2018

BIR set to collect P34.5B for 2018

CITY OF SAN FERNANDO -- The Bureau of Internal Revenue (BIR) Revenue Region 4 is set to collect P34 billion for the whole fiscal year with an 11 percent increase from its previous collection last year.

BIR Region 4 Director Jethro Sabariaga said the district is now feeling the effect of the Tax Reformation for Acceleration and Inclusion (Train) law, as there is now lower remittances from local government units and companies from employee income.

Sabariaga added that withholding tax collections form 30 percent of the total collection of Revenue Region 4. Despite of this, the region's collection target still registered an 11 percent increase.

"We will expect difficulty these coming months," Sabariaga said, adding the region is still optimistic as it would focus on expanded withholding tax and value added tax on government payment to meet targets.

The region will also be launching VAT audit section were the regular audit and vat audit will be processed separately.

Sabariaga said the region will also exercise its arrest powers against tax payers with blatant tax violations.

Sabariaga is optimistic that the BIR will be able to meet its target collection this year, as it drums up more information campaigns and revenue initiatives in the coming months.

As for the BIR's efforts this 2018, Sabariaga also appealed to the taxpayers to file the correct taxes and pay their obligations due to the government, citing the taxes would be returned to them in the form of government projects and programs, such as social and health services, as well as vital infrastructure projects.

Sabariaga said the region will be doubling efforts on the implementation of the Oplan Kandado and the Run After Tax Evaders programs this year.