BIR wants “5-6” lenders taxed
THE regional office of the Bureau of Internal Revenue in Calasiao will be looking into how to tax Indian nationals operating an informal money lending scheme popularly known as “5-6”.
Tomas Rosales, OIC regional director of the BIR, said going after the ‘5-6’ operators will be part of their crackdown on tax evaders and those not paying correct taxes.
“Dapat nga may lisensya yan. They are very elusive,” Rosales said during last week’s Meet The Press forum organized by the Pangasinan Tri-Media group.
Rosales noted that during a previous assignment in another region, he sought the help of then Immigration Commissioner now Dagupan City Mayor Alipio Fernandez Jr. in tracking the Indian money lenders.
Those who avail of the 5-6 scheme are usually the marginalized sector who have no access to registered lending facilities for lack of collateral.
Rosales said the 5-6 business appears to be thriving judging from the improved lifestyles of the Indian operators who used to go around in motorcycles but are now driving fancy cars.
Rosales said they initiated a program to go after the 5-6 operators before but it did not prove successful for lack of cooperation from the community and manpower. #
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