Connect with us

Philippine News

Palace welcomes PH highest tax effort in 11 years

Published

on

Roque, in a press briefing in Tabuk, Kalinga, said that this figure is an increase of 0.6 percentage point from 2016.

Roque, in a press briefing in Tabuk, Kalinga, said that this figure is an increase of 0.6 percentage point from 2016.

MANILA— Malacañang on Tuesday welcomed the preliminary data of the Department of Finance (DOF) which showed that the country’s tax collections to gross domestic product (GDP) rose to 14.3 percent in 2017.

Roque, in a press briefing in Tabuk, Kalinga, said that this figure is an increase of 0.6 percentage point from 2016.

He, meanwhile, thanked the Filipino taxpayers and congratulated the Bureau of Internal Revenue (BIR) for its improved efficiency in revenue-collecting.

“We thank the Filipino taxpayers for helping the government achieve its highest tax effort in 11 years,” Roque said.

“Congratulations, too, to the hardworking officers and employees of the Bureau of Internal Revenue,” he added.

Roque also assured taxpayers that the government would use the taxes they paid to fund the priority programs under the Duterte administration such as education, health and housing and infrastructure.

Makakaasa kayo na ang buwis na ibinayad ninyo ay isasauli namin sa taumbayan sa pamamagitan ng mas pinaigting na batayang serbisyong panlipunan (I can assure you that the taxes you pay will be returned to you through stronger public service),” Roque said.

Happy with figures

Last month, BIR announced that its tax collection effort has improved to 11.26 percent last year from an average of 10.5 to 10.9 percent in the last five years.

BIR Commissioner Caesar Dulay said the bureau did some “last two minutes” moves last November and December as it urged taxpayers to be responsible on their dues.

“We sought out the help of and we were very, very happy that they responded that’s why the figures are there,” Dulay said.

“We have a very good tax ratio and we have a very good growth rate for 2017,” he added.

Last year, the agency collected PHP1.779 trillion, 97.27 percent of its PHP1.829 trillion goal. Revenues grew by 12.92 percent, higher than the PHP1.576 trillion it collection in 2016.

This year, BIR has been tasked to collect PHP2.039 trillion.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

News12 hours ago

DOJ forms TWG to hasten creation of separate ‘heinous crimes’ prisons

MANILA – The Department of Justice (DOJ) has ordered the creation of a technical working group (TWG) to hasten the...

Philippine Navy spokesperson for the West Philippine Sea Commodore Roy Vincent Trinidad Philippine Navy spokesperson for the West Philippine Sea Commodore Roy Vincent Trinidad
News13 hours ago

Navy: Measures in place vs. possible Chinese interference in Balikatan

MANILA – A ranking Philippine Navy (PN) official said while China is not expected to interfere in the ongoing “Balikatan”...

Entertainment13 hours ago

Meet Five of Seoul’s Most Glamorous Elite in ‘Super Rich in Korea’ Official Trailer

Super Rich in Korea offers a golden ticket into the extravagant world of Seoul’s top 1% — individuals who’ve made...

Entertainment13 hours ago

Who’s In for “Something Really Fun”? The Curtain Rises on ‘The 8 Show’ with Thrilling Teaser Trailer and Character Posters

“Do you really want something fun?” This question opens the zany teaser trailer for The 8 Show, a thrilling new...

Entertainment13 hours ago

Discover Your K-Pop Persona With Spotify’s New Interactive Experience

In the last decade, as K-Pop cemented its status as a global phenomenon, Spotify has helped fans around the world...

Canada News13 hours ago

International student resentment brews but allowing fewer students into Canada isn’t the answer

Canada has prided itself on being a welcoming haven for students from around the world. But beneath the surface of...

Business and Economy13 hours ago

Supreme Court appears open to Starbucks’ claims in labor-organizing case

What factors must a court consider when the National Labor Relations Board requests an order requiring an employer to rehire...

British PM Rishi Sunak British PM Rishi Sunak
News13 hours ago

The obstacles that could still stop flights to Rwanda from taking off

  Rishi Sunak has finally secured the legislation he needs to support his Rwanda plan. A late night session of...

News14 hours ago

Parliament passes bill declaring Rwanda safe – but can it really be called a law at all?

After months of deadlock, the House of Lords withdrew its opposition to the safety of Rwanda (asylum and immigration) bill,...

News14 hours ago

Why Germany ditched nuclear before coal – and why it won’t go back

One year ago, Germany took its last three nuclear power stations offline. When it comes to energy, few events have...

WordPress Ads