BIR eyes P40-B collection from tax evasion cases

Rappler.com
The country's main revenue collecting agency is aiming to recover around P40 billion from the tax evasion cases it has filed since 2010

MANILA, Philippines – The country’s main revenue collecting agency is aiming to recover around P40 billion from the tax evasion cases it has filed since the Aquino government took over in 2010.

Bureau of Internal Revenue (BIR) commissioner Kim Henares recently told reporters when it filed its 100th tax evasion case that — if the agency is able to win favorable decisions for the cases — it stands to collect some P40 billion in taxes.

The economic team of the Aquino Cabinet, led by Finance Secretary Cesar Purisima, is pursuing a name-and-shame campaign at the the tax and customs agencies, aimed at high-profile individuals and entities who failed to meet or evaded payment of their tax or customs obligations.  

The charges filed covered violations including failure to pay income, value added tax and other liabilities. Some cases also stemmed from the failure of respondents to issue receipts.

In February, the BIR collected P68.69 billion in tax revenues, 8.81% above its target of P63.13 billion for the month.

The February collections brought the tax-take in the first 2 months of the year to P153.84 billion, above the target for the period by P3.43 billion or 2.28%.

BIR has a target of P1.066 trillion tax goal this 2012. – Rappler.com