BIR to monitor tourism-related establishments

CEBU, Philippines - The Bureau of Internal Revenue-13 in Cebu City will be closely monitoring tourism-related enterprises especially with the Sinulog festival this month to ensure that they declare the correct sales and income to the agency.

 BIR Regional Director Hermeno Palamine believes that enterprises that cater to visitors during the Sinulog are expected to post higher sales.

 He said it is important that these establishments, which include souvenir shops, hotels, restaurants, bars and pension houses, among others are audited well.

 The official noted the agency has maintained its Task Force Travelers’ Haven which is tasked to look after establishments that usually cater to tourists. 

 The task force, he said, also looks into the amount of sales that these targeted enterprises report especially every during Sinulog when more visitors are expected to come to Cebu and boost the sales of these establishments.

 Furthermore, the BIR official also urged taxpayers, particularly the professionals, to pay the correct amount of taxes to help it hit its target.

 BIR-13 is set to collect P36.3 billion this year, rising by 43% from last year’s P25.4-billion target.

Palamine also reiterated his call to the taxpaying public to file and pay their income tax returns as early as now before the April 15 deadline.

 Taxpayers will avoid the inconvenience of late filing if they file and pay early, he said. (FREEMAN)