BIR Large Taxpayer Service opens Davao office
April 04, 2017 at 06:08pm
“In 2016, (LTS) had a 62.44% or P924 billion contribution in the bureau’s collection and for this year we hope to contribute 65% to the target collection,” BIR LTS-Davao Chief Avia B. Globasa said in an interview.
“We have 219 taxpayers for the entire Mindanao for starters,” she said.
BIR’s Revenue Regulations No. 17-2010 authorizes the commissioner to prescribe the place of payment for large taxpayers. It also prescribes the coverage and criteria for determining large taxpayers.
There are now seven LTS offices, including Davao, with one in Cebu, and five in Metro Manila.
Among the taxpayers automatically classified as candidate to be a large taxpayer are: 1) branches of a taxpayer under the Large Taxpayer Service; 2) subsidiaries, affiliates and entities of conglomerates/group of companies of a large taxpayer; 3) surviving companies in cases of mergers/consolidations involving a large taxpayer; 4) any corporation that absorbs the operation/business in case of spin off/s of any large taxpayer; 5) corporations with an authorized capitalization of at least P300 million; 6) Multi-national enterprises with an authorized capitalization or assigned capital of at least P300 million; 7) publicly listed corporations; and 8) universal, commercial and foreign banks.
During last month’s 2017 Tax Campaign kickoff by the BIR Revenue Region (RR) No. 19 in Davao City, Commissioner Caesar R. Dulay said around P19 billion of this year’s revenue collection goal is expected to come from RR No. 19 and up to P80 billion from all of Mindanao.
RR No. 19-Davao City Regional Director Nuzar N. Balatero said the office increased its collection by 18.15% to P16.94 billion in 2016.
RR No. 19-Davao City covers the five Davao Region provinces of Compostela Valley, Davao Del Norte, Davao Oriental, Davao Del Sur, and Davao Occidental as well as Davao City.
DAVAO CITY
In Davao City, the local government recently gave recognition to the top 10 taxpayers for 2016, led by sister companies Davao Light and Power Corp. (DLPC) for business tax and Therma South, Inc. (TSI) for real property tax. The two companies belong to the Aboitiz Power Corp. group.
The other top business taxpayers were: Mindanao Shopping Destination Corp., Holcim Philippines, Inc., Coca-Cola FEMS Philippines, Inc., LTS Retail Specialists, Inc., Mindanao Shoppers Daily Destination Corp., DSG & Sons Group, Inc., Samsung Electronics Phils., Corp., Mindanao Corrugated Fiberboard, Inc. and Supervalue, Inc.
The other top real property tax Payers were: Davao Union Cement Corp., Accendo Commercial Corp., Southernpoint Properties Corp., SM Prime Holdings, Inc., Halifax Davao Hotels, Davao Sunrise Investment & Development Corp., New City Commercial Center and Mindanao Corrugated Fiberboard, Inc.
Source: bworldonline.com
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