BIR Run After Fake Transactions Paano Ifake How not to be a victim or prey

BIR's Run After Fake Transactions (RAFT) program is designed to combat tax fraud and evasion. Here are five benefits of this program:

Increased revenue for the government: The RAFT program helps the government to collect more taxes by detecting and penalizing those who engage in tax fraud and evasion. This results in an increase in revenue for the government, which can be used for public services and other essential programs.

Deterrence of tax fraud: The RAFT program creates a deterrent effect on taxpayers who might be tempted to engage in tax fraud or evasion. Knowing that they may be caught and penalized, taxpayers are more likely to comply with tax laws and regulations.

Promotion of fairness: Tax fraud and evasion can result in unfairness, as some taxpayers may be able to avoid paying their fair share of taxes while others cannot. The RAFT program helps to promote fairness by ensuring that everyone pays their fair share of taxes.

Increased confidence in the tax system: The RAFT program helps to increase confidence in the tax system by ensuring that tax laws are enforced fairly and consistently. This can help to promote compliance and reduce the likelihood of tax fraud and evasion.

Protection of the economy: Tax fraud and evasion can have a negative impact on the economy, as they can result in reduced government revenue, increased government borrowing, and reduced public services. The RAFT program helps to protect the economy by ensuring that everyone pays their fair share of taxes, which can help to maintain government revenue and public services.

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This video explained how you may free yourself from tax ignorance and declare your independence and self-reliance today. Read our laws. Comprehend their meanings. Know their immediate and future effects. Apply them timely and consciously.