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Wednesday, August 02, 2006
Revenue office collection for Jan.-June exceeds P4B
The Bureau of Internal Revenue (BIR) Cebu revenue region reported a total collection of P649.8 million for June alone, an increase of 19.54 percent or P106.2 million over the same period last year.
The bureau also said its total collection for the first six months of the year reached P4.26 billion, 27.29 percent or P913 million more than the cumulative collection for the same period last year.
In a statement, Regional Director Jaime B. Santiago attributed the growth in tax collections on aggressive tax campaigns and increased awareness of the taxpayers.
The BIR 13 Cebu revenue region covers five districts: Mandaue, Cebu City-north, Cebu City-south, Talisay City and Tagbi-laran City in Bohol.
Santiago is confident the region will surpass its total collection target of P9.01 billion by the end of the year because of substantial tax campaign activities by the BIR and major revenue enhancing projects like the “Run After Tax Evaders.”
Santiago had urged corporate taxpayers and those engaged in businesses considered as mixed income earners to avail of the “No Audit Program.”
The program provides incentives for taxpayers who voluntarily declare and pay higher taxes, thus reducing administrative costs from audits and investigation by the BIR.
Taxpayers paying the minimum corporate income tax are qualified to avail themselves of the program.
Conditions for qualification of the program is prescribed under Executive Order 399. (MMM)
For Bisaya stories from Cebu. Click here. (August 2, 2006 issue)
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