B.I.R. Now Going After Dead People...

[Sand Man]

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First thoughts on this is that it's just absurd. I mean have they really exhausted all efforts in collecting the proper taxes from the living na asta mga patay ila na gukdon?

The real menace are the rich individuals and companies who evade taxes. Though I applaud Henares' efforts in achieving this but that's like 2 days ago. Bottom line is I think naa pay mga bagag nawng na mga tax evaders gapahipi diha -- especially in some areas in Mindanao where people think they are untouchable by the Law.

Your thoughts?

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Besides the living, BIR now going after the dead to boost tax collection

The Bureau of Internal Revenue (BIR) is set to look into the bank accounts of dead people to reach their target collection goal of P50 billion by 2016.

BIR Commissioner Kim Henares said they will take advantage of a loophole in the Bank Secrecy Law to check taxable inheritance and boost estate tax collections from about P1 billion a year to an average of P12.5 billion.

An estate tax is a tax on the right of any given deceased person to transmit wealth to heirs. It is imposed on a given heir's inherited estate or assets if the value of the estate exceeds an exclusion limit set by law.

Republic Act 1405 or the Philippine Law on the Secrecy of Bank Deposits meanwhile states that accounts cannot be disclosed by banks and may not be examined except upon written permission of the depositor or if the money involved is the subject of litigation. Henares explained that bank accounts owned by the deceased are not protected by the law on bank secrecy because obviously, they have passed away. Heirs of the deceased can claim to enjoy bank secrecy either because technically, they don't own the assets of their deceased relative yet.

"The BIR wants everyone to become rich, so that we can collect more taxes. If you die, and you're rich, you pay more estate tax," Henares said.

Finance Secretary Cesar Purisma meanwhile said the low, static level of current estate tax collections contradicts rising property and stock princes.

Purisima also urged inheritors to amend their estate tax declaration and payments before they are caught. According to him, the government is set to investigate estate tax payments over the last five years.

source

[bleedingboi]

Mao ning panahona mangalag na ang mga patay 2ngod kay na overtaxed.

[Dorothea]

adto na pud ning enrile, bong revilla ug jinggoy

[gotnowheels]

grabeh, wa nila gukda ang ubang mga tax evader nya ang patay ilang gukdon. wa nalang juy respeto sa mga ka parente sa mga nangamatay.

[zHun]

grabe bisan patay na gukdon japon nila?? tagok ba ana nila ajo unta og kagon na sila aron d katolog og mag hayang.

[THE KID]

loslosa balitaa.....

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^^
"The BIR wants everyone to become rich, so that we can collect more taxes. If you die, and you're rich, you pay more estate tax," Henares said.

[ohohoy]

padung ra gihapon ang kwarta sa nga corrupt..

[Sand Man]

padung ra gihapon ang kwarta sa nga corrupt..

We hope to change that mentality ... Constant belief that there is not one honorable serving individual within our Government would fuel hate and distrust for our civil servants and would pull us further down the drain.

[juniorascal]

sila ra may sad.an ana kay naay loopholes ila mga balaod.

[audiophile0419]

grabeha ani uy.. kabaga naman