Quezon City, 25 February 2010 – “The Institution of Progress stands and delivers!”
Her Excellency the President of the Republic of the Philippines Gloria Macapagal-Arroyo will be the Guest of Honor today of the Large Taxpayers Service (LTS) 2010 Tax Campaign Kickoff at the NBC Tent, Fort Bonifacio, Global City.
President Macapagal-Arroyo is expected to give her thoughts on the BIR’s collection performance, the LTS in particular. BIR Officials also expect her to make some fiscal/revenue policy directions for the last four months of her administration all geared towards increasing revenue collections.
Commissioner of Internal Revenue Joel L. Tan-Torres will then present to the President the BIR “Legacy Scroll” which contains the amount of taxes collected by the tax agency during her term from 2001 to 2009. The said ten (10) year period saw the BIR collecting a total of P5.115 trillion during the administration of the President.
The President’s attendance in a Tax Campaign Kickoff Program of the BIR is one of the many firsts in the history of the tax agency.
Considered as the bread and butter of the Bureau of Internal Revenue (BIR) for collecting at least 60% of the total tax take of the agency, the LTS was created in 1999 to serve new and vital types of taxpayers and to fulfill the vision of excellence in tax enforcement, innovation in taxpayer service and advocacy of best practices in public service. Its efficiency in serving the large taxpayers is expected to translate into bigger collection that will mean larger funds to finance and sustain vital economic programs of the government.
“Building the gap between the Large Taxpayers and the Filipino people who benefit from your taxes is our goal. While it is a daunting task, we are glad that through the years, the LTS has successfully carried out its mandate,” said Assistant Commissioner (LTS-Regular) Nestor S. Valeroso.
Part I of the Tax Campaign Kickoff Program will feature Secretary of Finance Margarito “Gary” B. Teves who is again expected to exhort the LTS to further boost its tax collection considering the latter’s stake in the over-all tax collection. It will be followed by the awarding of the members of the so-called Billionaires’ Club of the LTS.
Named to the 2009 Billionaires’ Club were Manila Electric Company (MERALCO) and Nestle Philippines, Inc. for the Regular LTS group. For the LTS Excise Group, San Miguel Corporation (SMC) and Holcim Philippines, Inc. will be inducted into the club. The Billionaires’ Club awardees posted significant increase in their total tax payments by more than P1 Billion and recorded a growth rate of at least 20% for Calendar Year (CY) 2009 vs. CY 2008.
The LTS has continuously increased its collection since its inception. From 206 billion pesos in the year 2000, collection in the year 2009 reached 439 billion or an increase of 113% which represents 62% of the total collection in 2009.
With a total of 1,376 taxpayers, tax payments account for more than 60% of all revenues collected by the BIR in a single year.
Commissioner of Internal Revenue Joel L. Tan-Torres will give his message in Part II. He is expected to report to the President on the BIR’s collection performance especially on the first two months of his term and on what the BIR has been doing to boost its tax collection for this year. His Strategic Map for the BIR is expected to be his central theme.
The two (2) Assistant Commissioners of LTS will deliver their messages to be followed by the Pledge of Commitment from the large taxpayers. The pledge is a show of support by the large taxpayers for the LTS in all the latter’s undertaking, one of which is increased voluntary tax payments.
Assistant Commissioner (LTS-Excise) Zenaida G. Garcia quipped, “Our goal can only be achieved with your help. We shall do our best to serve you – the country’s large taxpayers – so the common Filipino can get what he deserves: a better quality of life.” (reytdlc)