Published December 31, 2020, 5:30 AM
The leading tax collection unit of the Bureau of Internal Revenue (BIR) has surpassed by a big margin its collection assignment as it garnered P1.4 trillion of December 22, 2020.
Revenue Assistant Commissioner Manuel Mapoy, head of the Large Taxpayers Service (LTS), said the take was P135.5 billion higher than the goal of P1.2 trillion for 2020.
(MANILA BULLETIN)
The LTS exclusively handles the investigation of the country’s 3,000 top corporations including multinationals and inter-related companies.
Mapoy said the remarkable fate was achieved through relentless audit of financial statements and other tax returns.
He said many individuals and companies availed themselves of the current tax amnesty on delinquencies program to avoid investigation and pay interest and surcharges for deficiencies found during probe.