Finance Chief: Tax Evaders “Cannot Hide” From Henares
Read MoreThe Secretary of Finance today announced that in 2012 the overall deficit of the public sector was P163.3 billion, equivalent to 1.5% of GDP. This amount is P11.8 billion lower than what was registered last year. The ratio was 1.8% in 2011.
Read MoreThe full implementation of Revenue Regulation No. 18-2012 requiring the issuance and used of new sets of receipts on July 1, 2013 shall proceed as scheduled. Commissioner of Internal Revenue Kim S. Jacinto-Henares said, “The complaints against the new regulations are without any basis since the tax agency had issued Revenue Regulations (RR) No. 18-2012 last year and published the same in the January 3, 2013 issue of the Manila Bulletin informing everyone that existing receipts will expire on June 30, 2013. We believe that six months is enough preparation for everyone to comply with such requirement.”
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