BIR-Davao registers P9.19-B collection in '12-A A +A
Thursday, March 7, 2013
REVENUE collection by the Bureau of Internal Revenue (BIR) in Davao Region reached P9.19 billion in 2012, recording an increase of P1.09 compared to the same period in 2011.
In a press conference Wednesday, BIR regional director Lawyer Glen A. Geraldino said the bulk of the revenue collection came from income tax, comprising about 64 percent of the total collection, followed by value added tax (VAT) at 25 percent.
Also, BIR-Davao hit its 2012 target goal of P9 billion.
Geraldino said the biggest chunk came from Davao City at 70 percent of the total revenue collected taxes in Davao Region.
He said the total collection could have been bigger had 14 huge firms remitted their taxes to the BIR-Davao, from which the agency could have collected cumulatively another P1 billion.
"That P1 billion was taken from us," Geraldino said.
The executive is also positive to hit their 2013 goal of P11 billion, although BIR-Davao was not granted with its appeal to the central office to decrease by P300 million its goal for this year after Typhoon "Pablo" destroyed severely crops in the region, especially the banana that contributed big to the agency's total revenue collection.
Meanwhile, Deputy Commissioner Nelson Aspe urged tax payers to pay taxes on time and not on the deadline set by the agency.
"Mas maaga, mas mabuti. Penalties will be imposed for those who pay taxes beyond the deadline," he said.
BIR-Davao set the deadline date for paying taxes on April 15, this year.
Geraldino said BIR-Davao collected some P14 million from the 17 establishments closed last year, mostly due to under declaration of sales by more than 30 percent.
There were a total of 200 establishments monitored last year.
"We will continue the monitoring for as long as there are reports on establishments not paying their taxes," he said.
However, BIR fell short with its target goal for 2012, recording only some P1.57 trillion in revenue collections.
"That (short) is not even 1 percent of the target goal last year," he said. BIR had P1.66 trillion target last year.
Geraldino, on the other hand, is hoping to implement this year the new zonal value, which they have been working on for four years now.
Zonal valuation varies per market value in every area in the region.
The current zonal valuation was formulated in 2002.
He said it took four long years before they come up with new rates, which is now in the Department of Finance for approval.
BIR-Davao has been working closely with the City and Municipal Assessor's Offices in the region for the completition of zonal valuation.
Published in the Sun.Star Davao newspaper on March 07, 2013.