BIR eyes lawyers, accountants-A A +A
Wednesday, April 2, 2014
CITY OF SAN FERNANDO -- The Bureau of Internal Revenue (BIR), through its Revenue Region 4, is set at an intensive tax mapping campaign on Central Luzon professionals now looking on lawyers and certified public accountants.
The BIR said that the initiative aims to encourage professionals like lawyers and accountants to pay correct taxes.
BIR Regional Director Aracelli Francisco said that particular attention is set on fees of a notary public. Under the Rule 5 Section 5 of the Rules of Court, "a notary public who charges a fee for notarial services shall issue a receipt registered with the Bureau of Internal Revenue and keep a journal of notarial fees." A notary public is also tasked to post in a conspicuous place in his office a complete schedule of chargeable notarial fees.
The mapping is expected to check if notaries public are using receipts registered with the BIR. Francisco also called on self-employed and professional taxpayers to issue receipts for services and pay the right amount of income and value-added taxes (VAT).
But the BIR was quick to add that it is also looking at the compliance of other professionals in CL with BIR regulations. BIR records showed there were 1.82 million professionals registered with the main tax agency but only 402,934 of them paid taxes. In Baguio City, there are 2,959 registered corporate taxpayers while 8,421 are individual payers.
Both the Professional Regulation Commission and the Social Security System counted two million self-employed and professionals while the Department of Trade and Industry listed 2.1 million with the National Statistics Office counting 2.9 million.
Earlier, Sec. Florencio “Butch” Abad of the Department of Budget and Management yesterday said that self-employed professionals like doctors, engineers and lawyers have an estimated combined annual income of more than P500 billion, but the Bureau of Internal Revenue was able to collect taxes of only P11.3 billion last year.
Abad said this is the reason why BIR Commissioner Kim Henares wants to collect at least P200 billion from them this year.
Published in the Sun.Star Pampanga newspaper on April 03, 2014.