by Jemin B. Guillermo
Roxas City (29 June) — The government’s revenue collection agencies are stepping up their activities to sustain the economic growth and stability of the country.
This is in line with President Gloria Macapagal-Arroyo’s fiscal economic reform to strengthen the country’s economy.
The President said that the gains from the pain of tax raising will be poured into human capital and physical infrastructure, namely, education, healthcare, new bridges, roads and ports, and upgrade the competitiveness of the Philippines.
According to Information Officer Ma. Gracia Balgos of Bureau of Internal Revenue (BIR) in Capiz, from January to May this year, their revenue collection has reached P170,283,538.93.
Compared to the P 149,014,778.16 tax collection over the same period last year, a P21,268,760.77 or 14.27 percent increase in collection was noted, Balgos said.
While there is an increase in their revenue collections, Balgos said that they are still taking all measures to ensure that exact taxes are remitted to the government coffers.
On the other hand the Bureau of Customs (BOC) is also determined to strengthen its revenue collection drive with the use of new and updated imports valuation database, X-ray scanning system in ports, and the review of bulk shipments in the last three years by the bureau’s newly created Post Entry Audit Group.
The intensified revenue collection drive is in line with the administration’s focus on ensuring that the country’s economic gains are sustained and a balanced budget is achieved by 2008.
In the implementation of new measures, the BOC hopes to collect an additional P8.425-billion revenue in the next three months, Malacañang said.
Malacañang said that the bureau is also banking on the incoming oil imports as well as additional revenue from unpaid duties and taxes of oil importations in the last three years to get the BOC’s collection drive back on track. (PIA)
PIA!
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