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Monday, January 09, 2006
Davao traders told: Pay taxes promptly
BUREAU of Internal Revenue (BIR) District Revenue officer Evelyn Sardido urged business establishments to operate within the law and pay their business taxes correctly and promptly.
BIR has been undertaking strategies and methods to monitor business activities, like the BIR's mapping operation, which could determine tax deficiencies on payments of taxes.
The BIR revenue district office is also stepping up its Tax Compliance Verification Drive to make sure that business establishments are not violating government rules on registration, invoicing, and bookkeeping, Sardido said.
Failure to register with the BIR and to issue duly registered invoices and unauthorized use of cash registers and point-of-sale machines are common violations.
"Our ongoing information campaign by sectoral groups especially with the business community has gained knowledge and awareness among taxpayers to follow tax rules and regulations," Sardido said.
Violations carry sanctions like confiscation of unregistered business tools and payment of possible tax deficiencies and increments of 25 percent to 50 percent surcharge, 20 percent interest and compromise penalty that ranges from P1,000 to P50,000 depending on the nature of violation.
If the offense is criminal in nature, it could lead to imprisonment.
"We are calling on all business establishments to comply with BIR rules and regulations. If you have not done so, better make the necessary compliance before the BIR team comes and inspects your establishments," appealed Sardido.
For Bisaya stories from Davao. Click here. (January 9, 2006 issue)
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