Poor compliance in 5% campaign tax payment noted
MAJORITY of the candidates in the May 10 election, both those who have won and lost, have been remiss in remitting the required five percent creditable withholding tax for their purchase of campaign materials including television, radio and print advertising.
The Bureau of Internal Revenue (BIR) has so far only collected a measly P7.5 million in the Ilocos Region, of which P150,000 came from the Revenue District Office (RDO 4) in Calasiao covering the central part of Pangasinan.
The corresponding tax is supposed to be remitted by the candidates to the BIR not later than the end of the June, according to Yolanda Ferrer, RDO 4 chief.
Lawyer Beverly Milo, chief of the BIR regional office’s assessment division, said late tax remittances will be subject to a 25 percent surcharge on interest.
Ferrer, speaking before the KBP forum on Thursday, said the BIR’s Oplan Iboto Mo aims to collect these taxes from the candidates.
Under revenue regulations, the candidates were expected to automatically withhold a five percent tax in their payments to suppliers. –LM
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