|
Monday, October 10, 2005
Payments of big taxpayers up 22%
COLLECTIONS by the Large Taxpayers District Office (LTDO)-Cebu during the first eight months of this year is 22.79 percent higher than last year.
It collected a total of P4.845 billion from January to August this year, an P899.407 million increase compared to the P3.946 billion it collected during the same period last year.
“There are 191 large taxpayers-corporations that are currently handled by LTDO-Cebu. All of them are located in Cebu,” said Kim Jacinto-Henares, deputy commissioner of the Special Concerns Group and the officer-in-charge of the Large Taxpayers Service of the Bureau of Internal Revenue (BIR), in a statement sent to Sun.Star Cebu.
For the month of August alone, the LTDO-Cebu reported a P794.073 million tax collection.
It indicates a 48.62 percent increase since the agency only collected P534.302 million in August 2004.
Henares said the LTDO-Cebu tax collection target for the first eight months of the year is P4.654 billion while it aims to collect over P6.813 billion for the whole year.
Classification
The BIR classifies companies as large taxpayers according to the firms’ gross income, tax due and tax payment in a particular period.
According to the National Statistical Coordination Board, the LTDO-Cebu ranked 11th in the BIR’s list of top 30 revenue generators in the first quarter of 2004.
It collected P1.27 billion or 1.26 percent of the total BIR revenues for the period.
Cebu City-North, or Revenue District 81, was in 25th place with collections of P492.70 million or 0.49 percent of total collections.
In 29th place was Mandaue City or Revenue District 80, which raked in P394.37 million or 0.39 percent of the total. (ALC)
(October 10, 2005 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
