SUMMARY
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The Tax-Man cometh! For Filipinos, take the April 15 tax deadline seriously because the Bureau of Internal Revenue is serious about collecting up to P300 billion pesos more just by increasing compliance. Finance Secretary Cesar Purisima says that figure could hike the country’s growth rate up to 3%. For decades, individual income tax collections lagged behind other countries at around 4-6%. In 2010, it increased to 8%, but decreased again in succeeding years. Purisima says he focuses on 3 goals: increasing income tax from professionals; increasing compliance on real estate taxes; and curbing smuggling.
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Read the full transcript and watch the full interview here.
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