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BIR resumes probe of income tax returns

Thousands of business operators nationwide have expressed dismay over the decision of the Bureau of Internal Revenue (BIR) to resume the investigation of the 2019 Income Tax Returns and prior years.

(MANILA BULLETIN)

They were almost unanimous in saying that the issuance of Letter of Authority (LA) now is untimely as the corona virus continues to batter business operations.

They said the taxmen should be more thoughtful about their financial problems, asking them to resume the audit when the pandemic has subsided.

Revenue regional directors have started issuing LAs more than a month after the June 15 deadline in the filing of 2019 ITRs.

Metro Manila revenue regional directors and district officials said they are not insensitive about the financial hardships currently encountered by business establishment owners.

“But we have to do our job of assessing and collecting taxes for the government to keep it running and help fight the spread of the virus,” said one regional director.

He stated that taxpayers who declared correct earnings and remitted the corresponding taxes need not worry as they will be cleared eventually in the audit.

The bureau, the foremost tax collection arm of the government, has been tasked by fiscal authorities to raise at least P1.7 trillion this year.


Source: Manila Bulletin (https://mb.com.ph/2020/08/20/bir-resumes-probe-of-income-tax-returns/?utm_source=rss&utm_medium=rss&utm_campaign=bir-resumes-probe-of-income-tax-returns)

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