Short across the board

Heads should roll on this disappointing performance, or more precisely, lack of it.

Tax collection last year was short by P53.8 billion, the biggest in the country’s history.

The Bureau of Internal Revenue missed its target across the board – value-added tax (VAT) short by P38.187 billion; income tax by P9.715 billion; percentage tax by P4.098 billion; and excise tax by P3.915 billion.

Guess which performed the least in revenue collection? The Large Taxpayers Group headed by no less than the chief tax collector herself. This group handles the top 1,000 corporations.

Are we surprised? Hohum! Even the Central Bank has dodged the BIR.

To rub salt on our wounds, here comes the big tax cheats proposing new tax measures, which presumably would not be paid either.

Local governments would suffer the brunt of this national government ineptitude. They get 40 percent of the Internal Revenue Allotment. The national government plugs the loophole by selling its assets. Unfortunately, local governments have little to offer.

And if there are any, I would not agree to this unsustainable way of raising revenues.

(5:28 a.m.)

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One Response to “Short across the board”

  1. Peneroopype Says:

    Great site very informative two thumbs up!
    Keep up the good work guys.

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