Media outfits told: Report candidates’ ad expenses

The Bureau of Internal Revenue (BIR) is requiring all media outfits to immediately submit reports of national and local elections candidates’ commercials and advertisements expenses.

“In line with the bureau’s efforts to effectively monitor and determine compliance by political candidates and their donors/sponsors, and pursuant to Section 5 of the Tax Code of 1997, as amended, this Revenue Memorandum Order is being issued to provide the guidelines and process of reporting paid campaign promotions contracted through media outfits, such as, but not limited to, television and radio commercials, print ad or publications and online advertisements, of candidates in the May 9, 2016 National and Local Elections,” Internal Revenue Commissioner Kim Henares stated in the RMO.