BIR, PRC drafting rules to penalize self-employed tax evaders
More News from Matikas Santos
MANILA, Philippines—Professionals need to show proof they have paid the right amount of income taxes before their work licenses can be renewed.
This is the new regulation being worked out jointly by the Bureau of Internal Revenue (BIR) and the Professional Regulation Commission (PRC), BIR Commissioner Kim Jacinto-Henares said in an interview Thursday over Radyo Inquirer 990AM.
Henares has disclosed that around 1.7 million self-employed professionals nationwide paid only a total of P9.8 billion in taxes in 2010, or an average of only P5,764 each. However, their income levels should correlate to P100,000 in taxes on the average.
“We’re drafting the memorandum of agreement [with the PRC],” she said.
The BIR will also be talking with the Integrated Bar of the Philippines with regards to the law profession.
The new policy is expected to be in effect “if not the latter part of this year, by January 2014,” Henares said.
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