Top 500 firms screened for tax compliance – BIR

The Bureau of Internal Revenue (BIR) has started screening closely the tax compliance of top 500 business taxpayers of every revenue district office (RDO) across the country to bolster its chances of raising at least P668 billion for the remaining four months of the year.

The projected collection would enable the agency to meet its P1.8 trillion target for 2017 with more than P1.1 trillion already collected from January to August.

A revenue district office gets 80 percent of its collection from these 500 business enterprises constituting 20 percent of the actual number of its registered taxpayers.

The revenue regional directors have been instructed to supervise the tax enforcement activities.

Under the guideline approved by Revenue Commissioner Caesar R. Dulay, members of the monitoring teams “shall analyze drastic changes in the monthly tax payments of identified top taxpayers.

Based on the analysis of the tax compliance, the monitoring teams will recommend what specific action to be taken against the taxpayers like stocks inventory and benchmarking audit.

The district officers were instructed to collate the findings gathered and report the same to the national monitoring team in the national office for review.

Insiders said the audit operation needs only to generate some P154 billion or surpass the actual collection for the same period last year which totaled to about P514 billion.