Dominguez urges taxpayers: pay early

Published March 31, 2020, 7:26 AM

by manilabulletin_admin

By Rizal Obanil

Department of Finance (DOF) Secretary Carlos Dominguez III on Tuesday appealed to taxpayers to pay taxes early to help the government generate funds to combat the COVID-19 pandemic.

Finance Secretary Carlos Dominguez III (Facebook / MANILA BULLETIN)
Finance Secretary Carlos Dominguez III

Dominguez in a statement said that the government may spend well over the 3.6 percent deficit threshold due to the immediate needs that came out because of COVID-19.

“Thus, we appeal to taxpayers who are able to file and pay their taxes early to do so, despite the one-month extension, so that we can fund these programs with the least amount of borrowing,” he elaborated,” Dominguez, in a statement said.

Earlier, the Bureau of Internal Revenue (BIR) extended the filing of income tax for one month, pushing back the deadline to May 15, 2020.

Government has come up with assistance packages to help those who have been inadvertently affected by the Luzon-wide enhanced community quarantine (ECQ).

Many, especially those who have not been able to avail of the work from home scheme, lost their jobs out of failure to report for work.