Considered as the prime revenue-raising office in the Bureau of Internal Revenue (BIR) tasked to collect at least 60% (P457.32B in 2010) of the entire tax agency’s collection goal, the Large Taxpayers Service (LTS) launched its tax campaign for taxable year 2011 yesterday at the NBC Tent, Fort Bonifacio, Global City to jumpstart its all-out drive to collect the bulk of the P940B goal for this taxable year.
LTS Assistant Commissioner Zenaida G. Garcia in her expressed confidence of meeting her collection target. She said, “The goal allocation for the LTS may look gargantuan but it is doable. It is with this mindset that I am enlisting all the support needed from our partner stakeholders especially our 1,945 taxpayers. With them behind us and the relentless efforts of the LTS personnel to flush out unreported taxes, we will get the job done.”
Garcia disclosed that she has unveiled her plans and priority programs for 2011 which included, among others, the use of the Computer-Assisted Audit Techniques and Tools System (CAATTs), Risk-based Audit, e-Taxpayer Account Management Program (TAMP) Project, and e-Authority to Remove Imported Goods Processing..
Commissioner of Internal Revenue Kim S. Jacinto-Henares, meanwhile is throwing her full support to the efforts of the LTS, the service she herself steered during her Deputy Commissioner days with the BIR. “With taxpayers slowly realizing the need for them to pay the right amount of taxes and the improved enforcement capability of our field auditors, the LTS will play a very significant part in the BIR’s attainment of its collection target for taxable year 2011,” she remarked.
In appreciation of the support given by its taxpayers last year, the LTS awarded plaques of recognition to four (4) 2010 Billionaires’ Club members namely: 1) Republic Cement Corp.; 2) ABS-CBN Corporation; 3) Smart Communications, Incorporated; and 4) PMFTC, Inc. The award is given to large taxpayers who had been instrumental in helping improve the collection performance of the LTS.
The kick-off also featured the appearance of popular singer-songwriter Jose Mari Chan. His songs “Refrain” and “Beautiful Girl” made the audience swoon. Tenor George Yang, owner of Golden Arches Corporation more popularly known as McDonalds, also sang to the great delight of the crowd. The two expressed their full support to the BIR and asked fellow taxpayers to help in nation-building by paying the correct amount of taxes.