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Manila Bulletin devider Philippines devider National devider BIR steps up intel-gathering on businesses' income declarations

BIR steps up intel-gathering on businesses' income declarations

Published Aug 7, 2022 10:38 am

The Bureau of Internal Revenue (BIR) has intensified it's intelligence-gathering on the tax compliance of business establishments nationwide.

Revenue regional directors said the operation was in preparation for the resumption of issuance of letters of authority (LA).

BIR Commissioner Lilia Catris Guillermo has suspended the audit pending submission by revenue district officers of all unfinished reports including prescribing cases.

Makati Revenue Regional Director Jethro M. Sabariaga said that while waiting for the lifting of the audit ban, there is a need to focus the BIR's activities on information gathering.

He said the operation does not only concern data collated from information furnished by taxpayers' clients, but from other big data sources like the local government units like the Bureau of Customs, the National Economic Development Authority and the Department of Finance.

He said taxpayers will be confronted with the BIR findings to give them the opportunity to correct their financial statements.

"This will enhance voluntary compliance, increase tax take and help facilitate the government's economic recovery program," said Sabariaga.

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