• BIR confident of P1.456-T collection

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    Bureau of Internal Revenue (BIR) Commissioner Kim Henares said on Monday the bureau is optimistic it will achieve its P1.456-trillion tax collection target for this year.

    Henares told reporters on the sidelines of the Tax Campaign kick-off event held at the Trinoma Activity Center in Quezon City that the bureau will “work hard” to achieve its targets for this year.

    “Our target for the whole year is P1.456 trillion. What we do is we work hard. We don’t think about whether it is big or small, we work hard then by end of the year, we’ll see [if the target is achieved],” she added.

    The P1.456-trillion tax revenue goal for this year is higher by 16.2 percent, or P203 billion compared to the P1.253-trillion target for 2013.

    The BIR commissioner also responded to the mass sentiment toward the bureau being strict and taxing almost everything, saying that it all boils down to implementing the National Internal Revenue (NIR) Code of 1997.

    “We are only implementing what is indicated in the law. If it was not able to implement before and we implemented at present, it doesn’t mean that we implemented new set of taxes,” Henares said in Filipino.

    “We have not implemented such new taxes, except the sin taxes,” she added.

    Amid having a total of 20 tax campaigns nationwide, the BIR urged the public to file their income tax returns (ITR) as soon as possible before the April 15 deadline. New ITR forms are available at the BIR website (www.bir.gov.ph), and would be available at regional revenue offices starting March 22.

    In terms of filing ITRs, Henares noted that people can use identification details such as community tax certificate, passport or drivers license.

    “[The tax campaign] is the signal that we should all file our income tax returns before April 15. So we should prepare all necessary documents as soon as possible,” Henares said, citing the need to prepare withholding tax and income tax returns for employees, as well as audited financial statements, balance sheets and ITR for business establishments, whether online or not.

    According to the BIR chief, marginal income tax earners are “in a relaxed mode” when paying taxes. But income earners and businesses would automatically have a deduction of 30 percent of their profits based on the 1997 NIR Code.

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