PH to join Multilateral International Tax Cooperation Convention

The Philippines has become the 68th signatory to the Organization for Economic Cooperation and Development (OECD) Convention on Mutual Administrative Assistance in Tax Matters (MAC). Bureau of Internal Revenue (BIR) Commissioner Kim Jacinto Henares, with special authority from the Office of the President, signed the agreement in Paris last Friday.

Revenue Integrity Protection Service performance at all-time high

The Revenue Integrity Protection Service (RIPS) has achieved its highest performance in its 11-year history. A marked improvement in 2014 with 85 investigations initiated over the eight-month period from January to August represents a 45% increase compared to the previous highest record of 58 attained in 2013.

BIR: Investments are not subject to the bank secrecy law, only bank deposits and government securities

The Bureau of Internal Revenue (BIR) is reminding the business, banking and financial sectors that only bank deposits and government securities are subject to the provisions of the bank secrecy law.

BIR collection for June 2014 grew by P5.36 billion

For the month of June 2014, the Bureau of Internal Revenue collected P94.12 billion in tax revenues, P5.36 Billion or 6.04% more than collections made in June 2013. For June 2014, collections from BIR operations amounted to P91.63 Billion, P5.35 Billion or 6.20% more than collections made in June 2013. Collections from non-BIR operations amounted to P2.49 Billion, P12.85 Million or or 0.52% more than the collections made in June 2013.

Nestle products distributor canned with tax evasion

The Bureau of Internal Revenue (BIR) today filed a criminal complaint with the Department of Justice against DG Cold Chain Distributors, Inc. (DG Cold Chain), together with its responsible corporate officers. This case is the 263rd filed under the RATE program of the BIR under the leadership of Commissioner Kim S. Jacinto-Henares. It is likewise a RATE case of Revenue Region No. 7, Quezon City.

BIR sues advertising company for tax evasion

The Bureau of Internal Revenue (BIR) today filed a criminal complaint with the Department of Justice against PHD MEDIA NETWORK 2006, INC. (PMNI), together with its responsible corporate officers – President/Chief Executive Officer Herminia De Leon, and Chief Financial Officer/Treasurer Rowena M. Nardo – for willful attempt to evade or defeat tax, and for deliberate failure to supply correct and accurate information in its income tax returns (ITRs) and value added tax (VAT) Returns for taxable years 2009, 2010 and 2011, in violation of Sections 254 and 255, in relation to Sections 27, 105, and 256, of the National Internal Revenue Code of 1997, as amended (Tax Code).

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