Internal Revenue Commissioner Jose Mario Bunag said that BIR personnel nationwide were well-motivated to reach their tax collection targets as shown by their remarkable performance.
The positive results of their tax collection drive in August, September, October 2005 have buoyed up the spirits of the personnel, Bunag said in a press conference.
Bunag assured the media that BIR remains committed to its task of raising more revenues to help reduce the projected budget deficit of the government.
He, however, lamented the fact that some quarters have been trying to derail the agency’s efforts to increase tax collection. But he said that they will not be side tracked because they are convinced that they are doing good for the country.
Bunag further said that the BIR is doing its job well to help stabilize the economy.
He also cited the gains of the agency through the implementation of the benchmarking scheme which has proven effective in uncovering undeclared earnings, during its pilot testing in revenue districts in Metro Manila.
Benchmarking basically involves matching purchases and other expenses with gross receipts in relation to tax payments of companies belonging to the same line of business, like hardware and restaurants.
Through benchmarking, a revenue district can establish profitability and approximate how much taxes each company belonging to the same industry should pay.
With benchmarking audit, Bunag said that cheating in taxes can be eliminated. (PIA 6)
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