Palace allays fear of new taxes, underscores focus on RATE
Manila (19 September) -- President Gloria Macapagal-Arroyo and Finance Secretary Margarito Teves have both repeatedly said that the present government will not be introducing new taxes. Rather, it would only be enhancing existing ones.
In line with this, the Bureau of Internal Revenue (BIR) would focus on the Run After Tax Evaders (RATE) program in raising the much needed revenues for the government to cover the P68 billion budget deficit for year 2008.
RATE is a program of the BIR against tax evaders, wherein the agency files cases against tax delinquents regardless of their class or status. Under the RATE program, the BIR has filed cases against movie actors, celebrities, singers, businessmen and politicians.
Aside from the RATE program, the bureau would also do a more stringent matching of taxpayers' income and withholding tax payments. BIR officials believe that there are revenues to be raised from enhanced matching of taxpayers' income declaration, as well as their withholding tax payments.
The BIR has exceeded its August collection target as it collected P79.5 billion as a result of these enhanced measures. (PIA-MMIO) [top]