• Makati settles taxes with BIR

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    Makati City Mayor Abby Binay said the city has fully settled its tax obligations with the Bureau of Internal Revenue (BIR) for the years 1999 to 2004 amounting to about P902 million. This covers the purported deficiency of the city on withholding tax on compensation, expanded withholding tax, government money payments and value added tax covering the six taxable years. “We are very thankful to the BIR under Commissioner Caesar Dulay for working with the city government in finally resolving this concern,” Binay said. On April 24, city legal officer Michael Arthur Camiña, turned over the check amounting to about P302 million to the BIR commissioner as “full and complete settlement of the basic assessment as well as any and all tax obligations” of the city. The check covers the more than P301 million balance from previous payments by the city to BIR from 2005 to 2011 amounting to P600 million. Makati continues to enjoy robust revenue collection under Binay’s administration. During her first six months in office, it posted a 14 percent increase in revenue, topping the revenue collection of the previous administration by over P600 million.

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    NELSON BADILLA

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