The Bureau of Internal Revenue (BIR) District-79 has successfully achieved the target tax collection of P1.452 billion for the year 2012.
According to OIC Assistant Revenue District Officer Alfredo Tolentino, they have an estimated surplus collection this year of at least P42 million.
The projected tax collection is P1.95 billion until the year’s end against the target tax goal of P1.452 billion or a 2.93-percent increase.
Assistant Revenue Officer Tolentino said the P42-million projected tax collection surplus is from the huge one time transaction when the Gokongwei Group of companies bought the Herminio Teves Sugar Milling Corporation in Barangay Caranoche, Santa Catalina in Negros Oriental.
The government was able to collect P105 million in the form of revenue from the Value Added Tax (VAT), withholding tax and documentary tax.
Tolentino said the huge one time collection is the key factor that pulled up the tax collection deficit of BIR District-79 during the previous months.
The P1.95 billion revenue collection will maintain the BIR District-79’s spot in the Billionaires Club of the BIR.
Tolentino said they are grateful for achieving the target revenue collection because it will benefit the province of Negros Oriental through the Internal Revenue Allotment (IRA) share. The district will continue to strengthen the tax collection programs to further increase awareness of the people to pay their tax obligations.
The BIR District-79 covers the province of Negros Oriental and the island province of Siquijor. (PNA)
