Chinese-Filipino traders may stop school program after tax evasion allegations
By Gil C. Cabacungan Jr.
Chinese-Filipino businessmen are still smarting from President Aquino’s allegations that some of its members have been evading taxes.
Chinese-Filipino businessmen are still smarting from President Aquino’s allegations that some of its members have been evading taxes.
The head of the 207-member Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) has vowed to strongly support not only the government’s tax collection campaign but also President Aquino’s “Daang Matuwid” crusade.
The Bureau of Internal Revenue raised P94.74 billion in January, increasing by 11.3 percent from the year-ago collections of P85.15 billion but falling short of the month’s target of P100.93 billion by 6.1 percent.
The Bureau of Internal Revenue will initiate 26 priority programs this year to further drum up collections, as the agency hopes to top the estimated P1 trillion it collected in 2012.
The Bureau of International Revenue reported collecting P110.8 billion in taxes in November, exceeding by 8 percent its target of P103 billion.
A group of businessmen and professionals has warned that the government would lose, instead of generate more, revenues if it implements the proposal to slap much higher taxes on cigarettes. In the end, government might resort to increasing income taxes, the group warned.
Finance Secretary Cesar Purisima and Bureau of Internal Revenue Commissioner Kim Henares denied on Wednesday that they favored the House of Representatives’ version of the sin tax bill that imposed much less taxes on beer and alcohol, as alleged by Sen. Ralph Recto.
The Bureau of Internal Revenue collected P68.69 billion in February, exceeding revenue targets for the second month in a row this year.
The Bureau of Internal Revenue (BIR) reported on Monday that it collected P85.15 billion in taxes in January, a double-digit rise from the 2011 figure but slightly short of the official target for the month.
MANILA, Philippines—The Bureau of Internal Revenue fell slightly short of its tax-collection goal in September, saying tax evasion has remained a key problem that the government must fight more intensely. “It is evident that there are still people who continue to pay less tax than what they are supposed to under the law. It is [...]
The Bureau of Internal Revenue collected P67 billion in June, falling short of the P68.5-billion target by 2.2 percent. Last month’s collection brought revenues in the first semester of 2011 to P458 billion, short by 0.5 percent or P2.3 billion of the P460.3-billion goal. Compared to 2010 figures, the collections in June were up 12.7 [...]
An improvement in tax collections and prudent expenditures has enabled the government to ramp up expenditure in the coming months to boost economic growth and meet state targets, a leading local bank said. In its monthly commentary, the Bank of the Philippine Islands (BPI) said steady dollar inflows, mainly from Filipino migrant workers, had helped [...]
