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Thursday, February 02, 2006
Revenue body: Taxpayers help improve economy
BUREAU of Internal Revenue regional director Marcelinda Omila-Yap cited taxpayers' responsibility to demand receipts from business establishments to enable tax authorities to easily detect tax evasion.
Yap called on the public to help the government in its tax collection campaign by demanding an official receipt for every purchase they make.
One sure option in improving the country's economy, she said, is through the proper collection of taxes and the best way to ensure that the government is not cheated is for taxpayers to demand receipts every time they do a legitimate business transaction.
Yap said once the government solves its fiscal problems, "a lot of things would just fall into place, as it would free up much-needed resources for the delivery of basic services."
According to the Department of Finance, a third of the government's national budget goes to debt service, limiting the funds available for the delivery of basic services.
The government has set a plan to gradually reduce the deficit every year and balance the budget by 2010.
(February 2, 2006 issue)
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