Internal revenue collection in Bukidnon up by P160 million

MALAYBALAY CITY (MindaNews/18 Feb)  – Internal revenue collection in Bukidnon rose by P160 million in 2010, from P557.4 million in 2009 to P717.7 million, the Bureau of Internal Revenue said in a press conference here Wednesday.

About P441.8 million or 61.6 percent was collected from income taxes,  P250.7 million of that from withheld wages.

About 24.7 percent of the total collections or P177.66 million came from value-added tax.

Myrna Bernardo, BIR district officer, said they are looking at possibly raising the target budget for collections by 20 percent in 2011.

She said they will verify and intensify collection from contract buyers of culled chicken from poultry farms, contract trucking from Bukidnon Sugar Milling Company, Inc. (Busco),  Del Monte Philippines Inc., and agricultural plantation firms MKAVI, MKADC and DAVCO.

Higher collections are also expected from from big land owners and planters, especially those with five hectares and abovefor those producing sugar, corn, rice, banana, rubber, vegetable and other high-value crops.

Bernardo said they plan to reduce inventory of accounts receivable and do personal follow-up for payment of delinquent taxpayers; apply summary remedies to close delinquent accounts.

Of the P717.72 million total collections in 2010, the BIR Revenue District 99 considers 700.16 million as sourced from “voluntary” payments.

Mama B. Sanggacala, BIR’s asst. revenue district officer, said Bukidnon will surely benefit if a law is passed mandating that income taxes from big companies operating in the province will no longer be sent to their national offices, but paid directly to the local coffers. (Walter I.Balane/MindaNews)