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Online casino-BIR officials say all

Time:2022-09-26 13:31:19 source:Online casino

Regional directors and other key field officials of the Bureau of Internal Revenue (BIR) said a full-blown investigation of businesses can help solve the growing collection deficits during the first eight months of 2022.

“In the absence of enforcement, it is impossible to verify tax compliance, like the remittance of the 12 percent value added tax collected by businesses from their customers,” one of the BIR regional directors told the .

The bureau has not yet released collection figures since Commissioner Lilia Catris Guillermo assumed the top BIR post in June.

Insiders, however, said the shortfall was “very substantial and growing” with only five of the 22 regions registering modest surpluses.

They said the biggest deficit was sustained by the large taxpayers service which handles the audit of big enterprises.

They explained that 97 percent of the annual take comes from voluntary compliance, but stressed investigation has multiplier effect.

Investigation compels many taxpayers, they said, not to cheat on tax payments, describing it as a “sword of Damocles” that would full on those not declaring correct earnings.

“Sad to say our taxpayers have not yet attained nationalistic maturity like in most advanced states to comply with their financial obligations to the government,” one regional directors lamented.

The bureau is the government’s single biggest source of funds, targeting this year to raise P2.4 trillion.