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By Chino S. Leyco Reporter
TO pressure revenue districts to collect more, the Bureau of
Internal Revenue (BIR) has raised its tax effort target this year on
the back of the higher collection goal set by Philippine economic
managers.
Commissioner Lilian B. Hefti,
said the government’s main revenue-generating agency is eyeing an
11.6-percent tax efficiency, which requires an P845 billion
collection target this year from P713.6 billion last year.
Tax effort is defined as the
share of taxes to the economy as measured by the country’s gross
domestic product (GDP)
Last year, the bureau’s tax
effort stood at 10.7 percent, lower than the target of 11.59
percent.
Hefti said the higher tax effort
goal can be attained provided the bureau intensifies enforcement
activities like monitoring of mineral and sugar taxation,
registration of taxpayers and transfer pricing.
She said the agency will soon
issue clarificatory circulars on shipping lines, airlines, the power
and water sectors and insurance.
“We will also improve our
excise tax administration, like bar coding on stamps for cigarettes,
affixture of labels on locally compounded alcohol products,
automation of reconciliation of data on receipts of raw materials,
production and removals including generated reports,” Hefti told
reporters.
Both BIR and the Bureau of
Customs are tasked to collect P1.099 trillion this year so the
government can attain a balanced budget this year. The government
secured legislative authority for a P1.236-trillion spending bill.
Last year, the government’s two
main revenue agencies missed their collection targets, but actual
figures were higher year on year.
BIR collections suffered a
7-percent shortfall to P712.098 billion against the P765-billion
goal, while Customs turned in P210.6 billion, missing its
P228-billion target by P17.4 billion.
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