Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui, Jr. said the agency consistently exceeds monthly collection targets due to heightened tax enforcement activities.
Lumagui expresses satisfaction with ongoing collection efforts. However, exact collection for first 10 months not estimated due to shift in value-added tax (VAT) payment schedule. Adjustment aims to enhance convenience of VAT payments for taxpayers.
Source: mb.com.ph
Latest Posts in "Philippines"
- VAT Reduction to 10% Risks Fiscal Deficit, Benefits Wealthy, Warns Philippine Finance Department
- BIR Collects P2.8B from Digital Services VAT, Exceeds Compliance Expectations with 371 DSPs Registered
- BIR Falls Short of VAT Collection Target by P6.37 Billion in First Seven Months
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Electricity Sector Case
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Automotive Export Case
