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                    [ArticleID] => 136836
                    [Title] => P250B lost yearly due to faulty tax computations
                    [Summary] => An estimated P250 billion a year never reach the national coffers due to the rate of errors in computations in the collections of the capital gains tax alone, according to an economic foundation.


The Department of Budget and Management (DBM) projected that the national government losses P400 billion to P1 trillion a year in collectable taxes. DBM Secretary Emilia Boncodin was quoted to have said that if government were able to collect just half of the conservative figure or P200 billion, "it would wipe out this year’s projected budget deficit of P450 billion."


                    [DatePublished] => 2001-10-16 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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EDMUNDO CORONEL

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                    [ArticleID] => 136836
                    [Title] => P250B lost yearly due to faulty tax computations
                    [Summary] => An estimated P250 billion a year never reach the national coffers due to the rate of errors in computations in the collections of the capital gains tax alone, according to an economic foundation.


The Department of Budget and Management (DBM) projected that the national government losses P400 billion to P1 trillion a year in collectable taxes. DBM Secretary Emilia Boncodin was quoted to have said that if government were able to collect just half of the conservative figure or P200 billion, "it would wipe out this year’s projected budget deficit of P450 billion."


                    [DatePublished] => 2001-10-16 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

        )

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abtest

P250B lost yearly due to faulty tax computations

By Ted P. Torres | October 16, 2001 - 12:00am

An estimated P250 billion a year never reach the national coffers due to the rate of errors in computations in the collections of the capital gains tax alone, according to an economic foundation. The Department...

Banking