Lack of new investors does not disappoint taxman

May 18, 2009 at 4:26 am Leave a comment

By Mortz C. Ortigoza

CALASIAO – The tax target of P 1.5 Billion for the entire year of 2009 ordered by the Bureau of Internal Revenue in Manila to its Revenue District Office – 4 Chief Joseph Catapia is a tall-order.

But it has not dampened the determination of the newly installed Catapia as he and his subordinates have geared-up to exhaust all the necessary measures to jack-up tax collection 23 percent higher than the P 1.3 billion it collected last year.

He explained since there are no and big industries in the district composed of two cities and 14 towns, “we have to rely on the traditional taxpayers who have been paying taxes before,” he explained.

He deplored the presence of a Manila based – giant mall and other big businesses in the province that have not contributed to their revenue collections.

Former RDO-6 Yolanda Ferrer based in Urdaneta City said before that all the multi-million taxes Shoe Mart- Rosales should have been be paying to BIR-Urdaneta have been channeled to the national tax division in Manila since it was what the law mandates.

She added that the only consolation BIR can get is the P500 registration fee the mall will pay yearly to her office.

Catapia earlier commented on the adverse effect on the coffer of the local government like city or municipality that host it since it will deny them additional shares from the tax collected by the local BIR.

He explained that the increase collection that could benefit the said local governments is Internal Revenue Allotment and the two percent shares from the Value Added Tax.

The RDO-4’s top honcho hoped that congressmen can sponsor a bill that will obligate malls located in a certain province to pay the taxes commensurate to their annual gross earnings they earn in the place where they do business.

BIR officials have to go double-time because the United-Kingdom based Fitch Rating warned of a credit rating downgrade for the Philippines if the government is not able to boost its revenues and change its fiscal strategy, he said.

Entry filed under: News.

Ranjit says he will run for vice governor Urdaneta mayor off to US; Parayno is acting mayor

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