January 31, 2012 Taxation Info News
MANILA – Tax inspectors in the Philippines will soon tighten tax controls for stall holders and small businesses in public markets in an effort to increase tax compliance across the country.
The government of the Philippines is initiating a new project to ensure that small business owners and stall operators across the country are complying with their tax obligations. The new initiative was revealed by Commissioner of the Bureau of Internal Revenue (BIR) Kim Jacinto Henares while speaking at a press conference on January 29th
Under the new regulations BIR investigators will be tasked with carrying out “tax mapping” operations across public markets in the Philippines, predominantly to ensure that all small businesses issue official receipts and record their sales.
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