• LTS AIMS TO COLLECT 60% OF P1.8T OVERALL 2017 GOAL

    BIR targets 10% more from large taxpayers

    1

    The Bureau of Internal Revenue (BIR) aims to collect over P1 trillion of revenue from its Large Taxpayers Service (LTS), 10 percent higher than its goal last year, by improving the service under the tax campaign “Ako, Kaisa sa Pagbabago (I am One with Change).”

    President Rodrigo duterte prepares to sign the commitment board with the theme “ako, kaisa sa Pagbabago” during the biR Tax campaign kick off held at the Philippine international convention center (Picc). PHOtO

    The bureau launched the campaign on Monday.

    Last year, the BIR collected P963 billion through the LTS unit, surpassing its 2015 collection of P881 billion by 9.3 percent.

    Home to the country’s 2,320 large corporate taxpayers, the LTS contributed at least 62.4 percent of the total revenue collection of P1.57 billion in 2016.

    This year, the LTS collection goal is 60 percent of the P1.829 overall target of the BIR.

    Describing the 2017 collection target of LTS as “huge but achievable,” the unit has committed to support the BIR’s four key priority areas: improve taxpayer satisfaction, protect revenue and recapture public trust, attain collection targets and adopt an expanded settlement program.

    “The areas address the need to streamline business processes, including the review of issuances, provision of online facility for the processing of clearances and accreditation of brokers and importers, taxpayer
    segmentation, simplification of tax forms, reduction of processing steps and documentary requirements and expansion of the Internal Revenue Stamp Integrated System (IRSIS),” the BIR said.

    The bureau also intends to implementation the Attrition Law, discipline erring personnel, remove the BIR from the salary standardization law, continue the Run After Tax Evaders program, do tax mapping, do audit and field operations, adopt an expanded tax compromise program and do benchmarking.

    The BIR kicked off of its 2017 Tax Campaign at the Philippine International Convention Center with President Rodrigo Roa Duterte as keynote speaker.

    Finance Secretary Carlos Dominguez 3rd, BIT Commissioner Caesar Dulay, BIR Deputy Commissioners, 20 Revenue Regional Directors and other officials of the BIR, as well as the presidents, chairperson, CEOs, COOs and CFOs of large taxpayers and the LTS Partners were at the launch.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    1 Comment

    1. don’t look far , collect from paquiao his arrear taxes is long overdue , come on have balls and start collecting his long overdue taxes.right now he’ is trying so hard to suck duterte.