• BIR reminds candidates of taxes

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    The Bureau of Internal Revenue (BIR) reminded all candidates, political parties, party list groups and campaign contributors to comply with their tax duties and obligations. They are to register and secure Official Receipts (ORs) with BIR Revenue District Offices (RDO) having jurisdiction over them. Withholding tax must be applied on tarpaulins, t-shirts, boleros, fans, flyers, talent fees and other purchases. All contributions shall be reported and any unused/excess funds shall be treated as income for purposes of taxation pursuant to Revenue Regulations No. 07-2011. Any single non-issuance of official receipt for contribution shall be penalized with not less than P1,000 but not more than P50,000 and imprisonment of not less than four years.

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