27 Mayo 2024, Lunes
Happy 48th Anniversary Mariveles Baptist Church, Mariveles, Bataan
City of Makati, France in June
supports World Press Freedom Day, May 3
Register now and vote in midterm polls
supports International Nurses’ Day
Aspirants file your certificate of candidacy on October 1-8,2024
Substitute candidates must be with same surname and political party
Partylist must file Certificate of Nomination and Acceptance
supports May, Cardiac Illness Prevention Month
No to Divorce!!!
Get well soon Nanay Angelita Santiago-Lopez
PM for any hospital discharge problem
Economic growth rests on hitting targets
By J.Lo
HOUSE SPEAKER FERDINAND MARTIN ROMUALDEZ
“Year on year, BIR’s revenue collections grew by 17 percent this year… welcome news, and I credit BIR for that,” Speaker Martin Romualdez urged Bureau of Internal Revenue (BIR) to ensure tax agency hits its targets this year, emphasizing “hitting revenue targets means government can fund its spending program, will enable growth.”
“But 17 percent growth from total collections last year will mean BIR will fall short of P3.05-trillion target set by economic managers,” the Speaker stressed.
BIR collected P2.516 trillion in 2023. Increase of 17 percent will bring total collections this year to P2.944 trillion, still slightly below target.
“It’s high bar to clear…that’s why Congress has given BIR tools to collect more effectively from taxpayers,” Romualdez said.
“We enacted Ease of Paying Taxes, effective this year, to digitalize most of BIR’s transactions and encourage taxpayers to comply voluntarily… law will also broaden base of taxpayers, since we made registering as taxpayer simpler, more convenient and above all free.”
Romualdez pointed out country’s economic growth this year “depends in large part on government carrying out budget President Marcos proposed and Congress authorized…of course, the sooner the BIR can collect the cash, the faster government can fund its programs.”
“Government final expenditure grew by only 1.7 percent during first quarter, so I’m hoping that BIR will be able to collect more in second quarter so government spending can also catch up…we need to fund both programmed spending and as much of unprogrammed appropriations as possible to meet our growth targets this year, tax is lifeblood of government, and vitality of economic growth this year depends on whether BIR can supply that lifeblood,” Romualdez said.
ISKUP! 