Looks like Bureau of Internal Revenue (BIR) Commissioner Kim Henares and her crew will be busier this year.
“The BIR, the national government’s largest revenue source, wants to raise tax collections by almost a fifth this year, partly banking on higher taxes from sin products,” reports ANC.
BIR’s goal for 2014 has been pegged at PHP1.46 trillion, 16 percent more than last year’s PHP1.25 trillion.
According to the report, “almost eight percent of that full-year tax target will come from excise taxes like those imposed on cigarettes and alcohol.” Income taxes will account for more than half of the 2014 target revenues.
Well, it looks like they already have a headstart with X Factor Israel winner Rose Fostanes.
