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Saturday, August 05, 2006
BIR program attracts 1T taxpayers, collects P52M
A total of 1,198 individual and corporate taxpayers have availed themselves of the “No Audit Program” (NAP) of the Bureau of Internal Revenue.
BIR 13 Cebu Revenue Region reported that total collection for taxable year 2004, under NAP alone, reached P52 million.
“Mas daghan pa gyud ang ni avail last year (more availed last year),” said BIR 13 taxpayer’s assistance unit head Zora-haida de la Cruz.
Deadline for the 2005 taxable year was last July 31.
BIR 13 Director Jaime Santiago has encouraged taxpayers in Cebu and Bohol to avail of the NAP, which is a five-year continuous program.
The NAP provides incentives to taxpayers who voluntarily declare and pay higher taxes, thus reducing their administrative costs from audits and investigation by the BIR.
One of the conditions to qualify for the program, under Executive Order 399, is an increase of at least 20 percent in the income tax payment for the current taxable year compared to the base year.
De la Cruz said that the 20 percent is the estimated gross profit for the base year.
She also said that it is convenient for taxpayers to take advantage of the program because “it saves them time and effort as they go about their usual businesses.”
With the implementation of the NAP, the BIR can use its resources and personnel to audit and investigate other taxpayers. (MMM)
For Bisaya stories from Cebu. Click here. (August 5, 2006 issue)
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