Contractors top 2008 Ifugao income taxpayers
by Dan B. Codamon
Lagawe, Ifugao (6 June) -- Contractors of various infrastructure projects of the government here have outranked businessmen and government employees as the highest income taxpayers of the province for the fiscal year 2008.
Proving that there is more money and it is very profitable in the contracting industry than being a mere worker or a businessman.
Based on the record of the Bureau of Internal Revenue (BIR) here, of the top 20 income taxpayers, 14 of them are contractors while only 6 are businessmen and none comes from the government public service offices.
Compared to previous years, high ranking government officials have been consistently posting bigger income tax payment with the BIR since their income are transparent with their mandatory withholding tax deductions as against the businessmen and contractors.
According to one BIR employee, it is now the reverse since the contractors and the businessmen are more or less honestly declaring their income and paying more taxes because it is required by law which is beneficial to the government in generating revenues.
The BIR also said that the ranking of the top income taxpayers was based on the taxes paid but on the declared gross income of the taxpayers which cannot be divulged. (PIA Ifugao) [top]