Metro Manila (CNN Philippines) – The Bureau of Internal Revenue (BIR) Manila launched an intensified tax collection campaign for 2016.
Regional Director Araceli Francisco said they are working to implement online tax filing to avoid long lines at BIR offices every April.
Manila is the country’s fourth largest tax revenue earner after Quezon City, Makati, and San Pablo City in Laguna.
Franciso remains optimistic the country will hit its P2 trillion tax revenue target despite missing last year’s P1.6 trillion.
Relying on honesty
Franciso disagrees with the proposal of some presidential candidates to lower the country’s income and corporate taxes, saying this will not automatically translate to more investors. Instead, It will add to the country’s budget deficit.
Francisco reminded candidates to file the correct tax returns for campaign donations.
Donations will be taxed up to 15 percent and 30 percent if these came from relatives and 30 percent from non-relatives.
The bureau, however, admitted there is still no clear mechanism on how they will monitor the donations. It is just relying on the honesty of the candidates.
