BIR sets P1.5B target for April ITR filing
April 11, 2011
CITY OF SAN FERNANDO — The Bureau of Internal Revenue (BIR) here has set an ambitious P1.5 billion tax revenue target for this month, in anticipation of the deadline of the filing of Income Tax Returns (ITR) on Friday.
BIR regional director Romulo Aguila Jr. told Sun.Star Pampanga that the regional office is optimistic in meeting its target, though admitting that the recent delisting of big tax payers in the region would have an effect on the over-all collection in the long run.
Aguila said the BIR National Office had delisted big taxpayers here, making the region lose some P2 billion in expected collections each year. However, Aguila said the BIR has been doubling its tax campaign here for the past three months to better reach targets.
The BIR is targeting a total of P13 billion collections for the whole of 2011. Currently, the BIR has collected some P2.7 billion from January to March.
Aguila said the BIR has been instituting aggressive tax campaign measures to keep taxpayers aware of their responsibility and the other services offered by the BIR.
Aguila also appealed to the taxpayers to file the correct taxes and pay their obligations due to the government citing that the taxes would be returned to them in the form of government projects and programs, such as, social and health services as well as vital infrastructure projects.
Income Tax is a tax on a person’s income, emoluments, profits arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 less the deductions and/or personal and additional exemptions, if any, authorized for such types of income, by the Tax Code or other special laws.
Aguila said taxpayers should file their ITR on or ahead of time to avoid the unnecessary rush.
βIt is always wise to file ITRs on time to avoid penalties. Also this yearly obligation is something that helps the country as taxes are the lifeblood that turns the wheel of our social services and government functions,β Aguila said.
Source: http://www.sunstar.com.ph/pampanga/local-news/2011/04/10/bir-sets-p15b-target-april-itr-filing-149673
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