THE Philippine’s Bureau of Internal Revenue (BIR) marks its 114th anniversary today, August 1, 2018. It is an agency of Department of Finance (DOF), assigned to collect more than half of the total revenues of the government.
As an agency under DOF, BIR attends to the collection of all internal revenue taxes, fees, and charges, the enforcement of all forfeitures, penalties, and fines connected therewith, including the execution of judgments in all cases decided in its favor by the Court of Tax Appeals and the ordinary courts. It also administers supervisory and police powers conferred on it by the National International Revenue Code and special laws.
The current administration has started to implement the Republic Act 10963, the Tax Reform for Inclusion and Acceleration Act of 2017 (TRAIN), which lowered personal income tax rates but increased taxes on certain goods, leading to a net increase in revenue. This revenue will be used to fund the major expansion in public infrastructure in the country.
We congratulate Bureau of Internal Revenue on the occasion of its 114th founding anniversary.