BIR missed collection target for 2012
By Ronnel Domingo
The Bureau of Internal Revenue collected P1.058 trillion in 2012, missing its target by P8 billion.
The Bureau of Internal Revenue collected P1.058 trillion in 2012, missing its target by P8 billion.
The Bureau of Internal Revenue is tightening its watch on hospitals that invoke tax perks, following a Supreme Court ruling that St. Luke’s Medical Center Inc. is not tax-exempt.
The Bureau of Internal Revenue on Wednesday said that it has breached the record P1-trillion mark in collection for any given year, as of Dec. 17.
Internal Revenue Commissioner Kim Henares remains confident the Department of Finance-backed version of the “sin” tax bill would be passed and enacted into law despite a Senate version that halved the expected tax take.
The Bureau of Internal Revenue collected P83.5 billion in July, again falling short of its monthly target after a rare feat in June when it exceeded the month’s goal by about 8 percent.
The Bureau of Internal Revenue collected P924.1 billion in 2011, falling short of its target by 1.7 percent, or P15.9 billion.
For some taxpayers wary of the taxman, the holidays will not turn into a sunny afternoon when—as the song says—“the taxman’s taken all [their] dough.”
The Bureau of Internal Revenue (BIR) has filed a P1.7-billion tax evasion case against a metal and plastic products manufacturer.
