Easier tax payments
The Bureau of Internal Revenue (BIR) and some business groups have vowed to cooperate with one another for better tax collection, the agency said in a statement on July 16.
The statement said different trade groups, including Filipino-Chinese Chamber of Commerce and Philippine Chamber of Commerce and Industry met with BIR Commissioner Caesar R. Dulay on Friday, to discuss how the two parties can achieve the revenue goal of the agency this year of P2.03 trillion ($43.48 billion).
For the first five months of 2016, BIR has reported better collection rate with a total of P659.96 billion ($14.21 billion) or 10.67% higher versus the same period last year but still 20.86% below its target.
The statement said Dulay asked the business leaders to “submit suggestions and a list of revenue issuances they want the bureau to review or revisit.”
The meeting follows BIR’s issuance of memorandum for easier tax clearance permit processing earlier this month.
Related: Red tape eliminated
Higher passenger growth
Cebu Pacific Air and sister company Cebgo benefitted from the tourism surge the past summer as it posted an 8.9% higher passenger traffic from January to May versus the same period last year.
The budget airlines carried 8.45 million passengers by the end of May 2016. It aims to reach 20 million passengers by the end of the year. - Elyssa Christine Lopez