Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Monday, 12 April 2021 News Before 1 Feb 2012. Click for Latest
Web PIA  
 << April 2021 >> 
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30
Special News Editions:
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
PIA Archive News Reader

PIA Press Release

BIR sees 20% increase in tax collection for 2007

Dumaguete City (22 January) -- Tax collection is expected to be higher by 20 percent this year.

This was disclosed by Atty. Arturo Acabal, Officer in Charge/Revenue District Officer of the Bureau of Internal Revenue (BIR) here.

Acabal is confident that tax collection will be higher this year because of the Value Added Tax.

A 2-percent VAT was added on all goods and services on February 2006 which generated negative feedback from the public.

But a year later, VAT proved to have helped the economy greatly specifically in the administrationís project to alleviate poverty, said Press Secretary Ignacio R. Bunye.

In December 2006, the BIR national office issued a memorandum to all district offices nationwide for the submission of the total VAT collection of each cities and municipalities.

This is to determine the share of the Local Government from the added tax, said Acabal.

The 20% excess from this collection will be given to the LGUs.

Acabal said his office is still preparing their collection data and has yet to submit the total collection for this year to the national office

President Arroyo congratulated the economic team for the efforts that was done to put the economy in a better state.

With this improvement, the President hopes, that more investors will come in and have more confidence on the countryís economic system that will eventually generate more jobs. (PIA) [top]

|«  prev  next  »|
»Secretary Yap to lead regional info caravan in Pangasinan
»Politicians urged not to pay "permit-to-campaign" fees to NPA
»Negros Oriental to host 2nd Negros Island Organic Farmersí Festival
»BIR sees 20% increase in tax collection for 2007
»Grenade lobbed at police precinct in Cotabato City
»Construction and improvement of two road networks completed in Mindanao
»Tagalog News: UN SecGen pinuri si PGMA sa matagumpay hostin ng 12th ASEAN Summit
»Tagalog News: PGMA's Caravan for National Unity ipagpapatuloy
»Tagalog News: Pangulong Arroyo muling isinusulong sa Kongreso ang pondo para sa food-for-school program
»Tagalog News: Pagkakapatay kay Janjalani, tumapos sa Abu Sayyaf - PGMA
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines