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Article: PHILIPPINE INTERNAL REVENUE BUREAU OPEN TO TAX COMPROMISE.
- Article from:
- AsiaPulse News
- Article date:
- March 27, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MANILA, March 27 Asia Pulse - The Philippines' Bureau of Internal Revenue (BIR) is not in favor of a tax amnesty, but said it will compromise with the taxpayer in an effort to increase compliance.
BIR Commissioner Rene Banez said the bureau is currently working on schemes aimed at increasing taxpayer compliance.
Banez said this is part of the ongoing review process of the country's tax system being undertaken by the bureau.
The BIR hopes to map out recommendations that would address loopholes in the present tax system.
"We are trying very hard to meet our P408 billion revenue (US$8.5 billion) target that is crucial to the containment of ...