BAYOMBONG, Nueva Vizcaya—The Bureau of Internal Revenue here has exceeded its tax collection mark from the previous year by 21.54 percent, officials said.
Cesar Balangatan, BIR Revenue District Officer, said their total tax collection last year was P1.098 billion, surpassing their 2016 revenue collection and making Nueva Vizcaya one of the biggest contributors in taxes in the country.
For 2018, their tax goal is at P2.039 billion, as Nueva Vizcaya needs to achieve or surpass a tax goal of P1.294 billion, compared to their 2017 tax target of P1.054 billion, Balangatan said.
He expressed optimism on some of the amendments in the present tax system from the previous Republic Act 8424 and the new RA 10963, especially on individual income tax and excise tax, which will boost their tax collection in the province.
“While the new rate in excise tax wherein the excise tax on mineral products is common in the province. The BIR will now collect 4% from the extraction of sand and gravel from quarry which is 2% higher from the past rate,” the BIR official added in a recent flag raising program at the provincial capitol.
Governor Carlos Padilla also expressed support to the BIR and assured their compliance on their tax collection programs and policies