BIR imposes 5% tax on campaign contributions and expenditures
by RB Manlangit
Daet, Camarines Norte (5 February) -- The Revenue District Office (64) here has reminded local candidates for the May 10 Elections to comply with the 5% withholding tax in accordance with the Oplan: "Iboto Mo Kandidato, Nagbabayad ng Buwis na Wasto" of the Bureau of Internal Revenue (BIR).
Marcelino M. Quito, Camarines Norte BIR chief, bared that the bureau has already reiterated to all the candidates in the local level, including those vying for congress, governor, board members, mayors, vice mayors and councilors, on their obligation for the payment of 5% withholding tax.
Quito said that the directive is based on the Revenue Regulation 8-2009, stating that candidates have the civic duty of assisting in nation building which can be attained with them being involved in complying with their obligations.
He stressed that these regulations are promulgated to ensure that the purchases of goods and services for the campaign and election activities of the candidates and their contributors and supporters shall be subject to withholding tax.
He explained that subject to 5% withholding tax are services and campaign materials expenses like flyers, tarpaulins, brochures, primers, among others. (PIA CamNorte) [top]