Friday, March 30, 2012

News Update BIR exceeds February collection goal

MANILA, Philippines - The Bureau of Internal Revenue (BIR) exceeded its collection goal in February as the agency continues to step up efforts to improve its tax-take.
BIR Commissioner Kim Henares said the bureau collected P68.69 billion in tax revenues, 8.81 percent above its target of P63.13 billion for the month.
The February collections brought the tax-take in the first two months of the year to P153.84 billion, above the target for the period by P3.43 billion or 2.28 percent.
Despite the above target collections, Henares said it’s still a long way to go before the BIR can hit the P1.066 trillion tax goal this year.
“February does not make the whole year. We will have to work hard,” Henares said.
Of the P89.69 billion collected in February, the BIR raised P61.36 billion from BIR operations and P7.34 billion from non-BIR operations.
Compared to the collections in February 2011 when the BIR generated P53.42 billion, this year’s actual collections are ahead by P15.28 billion, or an increase of 28.6 percent.
Henares attributed the strong performance of the bureau to the efforts of the Large Taxpayers Service and the regional offices.
“The LTS and the regional offices are really working hard,” Henares said.
The BIR, which accounts for 70 percent of government revenues, has been stepping up efforts to widen the tax base and boost collections.
Yesterday, the BIR filed before the Department of Justice (DOJ) four more tax evasion cases against delinquent taxpayers, bringing to 100 the total number of cases filed the BIR under Henares’ leadership.
The BIR filed a case against two individuals and the Registrar of Deeds of Dagupan City in connection with the transfer of title of a parcel of land using allegedly falsified documents.
Charged before the Justice department were Humberto Solis of Dagupan City, Elma dela Cruz Versoza of Lingayen and lawyer Cecilia Munar, in her capacity as Registrar of Deeds.
The BIR said that the act of Solis and Versoza of using a falsified documents deprived the government of P51.49 million in taxes in 2010.
The second case was filed against Yearful Fashion Enterprises, a garments supplier of the SM Group, for allegedly under declaring its taxable income in 2010 by roughly P36.50 million.
This, the BIR said, resulted in a tax liability of P10.93 million for 2010.
Another case was filed against Southserve Logistics Corp. for failing to settle its total tax liability of roughly P6.67 million for 2006.
The BIR also filed a complaint affidavit against Cynthia Rimando, a medical doctor based in Bulacan, for failing to issue tax receipts.
Henares said the agency would continue with its campaign against tax evaders as part of efforts to meet this year’s revenue goal. - By Iris C. Gonzales