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The Bureau of Internal Revenue said it is open to a compromise with delinquent taxpayers to meet its P1.6-trillion collection target.
BIR Commissioner Caesar Dulay told reporters recently the agency was reviewing options in raising revenues.
“… we’d rather encourage tax payers to compromise as long as it’s within the law, to compromise whatever pending assessments they have,” Dulay said.
“We also have a number of cases with the Court of Tax Appeals. Those were the assessments often being questioned and my instruction to our legal department is to try to work out compromise and mediation, because mitigation takes a long time, and it does not help the taxpayer or the government in raising revenue...,” Dulay added.
He said BIR was studying the possible expansion of the compromise settlement program of the bureau.
“… the principle we’d like to adapt is to encourage compromise agreements within the limits of the law,” the BIR chief said.
He said the agency would still pursue existing tax cases filed in the Court of Tax Appeals “in accordance with the rules.”
Prescribes the policies, guidelines and procedures in the implementation of the post evaluation of the Cash Register Machines (CRM), Point-of-Sale (POS) machines and other Sales Receipting System Software including the extraction of data from Electronic Sales (eSales) Journal and Z-Reading
Republic Act (RA) No. 10693 (An Act Strengthening Non-Government Organizations (NGOs)
Engaged in Microfinance Operations for the Poor), otherwise known as the “Microfinance NGOs
Act” was signed into law on November 3, 2015. The Act is in pursuance to the policy of the State to
pursue a program of poverty eradication wherein poor Filipino families shall be encouraged to
undertake entrepreneurial activities to meet their minimum basic needs including income security.
To achieve this policy, the State shall support and work in partnership with qualified NGOs in
promoting financially inclusive and pro-poor financial and credit policies and mechanisms since the
State recognizes the indispensable role of NGOs in fostering local enterprise development and
social entrepreneurship, including the provision of microfinance services to microenterprises.
The Implementing Rules and Regulations (IRR) of RA No. 10693 were duly approved by the
concerned government agencies on August 16, 2016 and Bureau of Internal Revenue being one of
the concerned government agencies, issued Revenue Regulations (RR) No. 3-2017 on February 24,
2017 to implement Section 20-Taxation of Microfinance NGOs of RA No. 10693. Microfinance NGOs with duly issued Certificate of Accreditation from the
Microfinance NGO Regulatory Council (or “Council”) shall be eligible to avail of
the 2% gross receipt tax on income from microfinance operations in lieu of all
national taxes;
2. Preferential tax treatment shall be accorded only to NGOs whose primary purpose
is microfinance and only on their microfinance operations catering to the poor and
low-income individuals in alignment with the main goal of the Act to alleviate
poverty;
3. Certificate of Accreditation issued by the Council shall be an essential requirement
for granting the 2% preferential tax treatment of Microfinance NGOs;
4. The word “Microfinance” shall be included in the corporate and trade name of the
Microfinance NGO;
5. The preferential rate of 2% tax based on gross receipts from microfinance
operations should only refer to lending activities and insurance commission which
are bundled and forming integral part of the qualified lending activities of the
Microfinance NGOs;
6. All other income by the Microfinance NGOs which are not generated from the
lending activities and insurance commissions, shall be subject to all applicable
taxes;
7. Duly registered and accredited Microfinance NGOs, as well as their clients, shall be
required to have a Taxpayer Identification Number (TIN);
8. Microfinance NGOs already registered with the BIR shall update their registration
with the concerned Revenue District Office (RDO) using BIR Form No. 1905 to
reflect their accreditation as Microfinance NGOs;
9. Every Microfinance NGO shall maintain books of accounts and other pertinent
records and shall be subject to periodic examination by revenue enforcement
officers of the BIR. In case Microfinance NGO engages in other businesses, it shall
maintain separate books of accounts for the same;
10. Every Microfinance NGO shall apply for Authority to Print (ATP) Receipts/Invoices
(BIR Form No. 1906). In case Microfinance NGO engages in other business, it shall
apply for ATP for use of the other business.
11. Microfinance NGOs shall use BIR Form No. 2551M (Monthly Percentage Tax
Return) in filing and paying the 2% pre