P5-B Tax Target for BIR-Central P'nan

 By Mortz C. Ortigoza

CALASIAO, Pangasinan – The chief of the Bureau of Internal Revenue in central Pangasinan and his staff brace to collect about five billion pesos (P5, 000,000, 000) for the financial needs of the national government.

Revenue District Office No. 4 Chief Gil Vinluan said that the national office gave him early this year P4.9 billion to chalk-up from January to December in the fourteen towns and two cities’ central province.

“Ngayon is P4.9 billion about P5 billion”.

Revenue District Office No. 4 Chief Gil Vinluan

RDO No. 4 collected P4.3 billion last year.

He said that in the first three months of this year he was short in his collection because he only eclipsed the last year’s March target with the same month's this year.

Comparison used by the tax office if it is efficient on its collection is by pitting the particular months of this year versus the same months last year.

“Malaki, honestly we can recover this April kasi filing season na e,” he said about the deadline of the Annual Income Tax Return on the same month.

With the appraisers and assessors already ready with the revision of the national zonal valuation in his area, Vinluan can implement it in the second semester of this year.

“Oo, additional source of revenue”.

One of the sources of the BIR in creation of funds for the government is through the Capital Gain Tax (CGT).

CGT from the sale of real property located in the country classified as capital assets by individuals are subject to a tax of six (6) percent based on gross selling price or the current fair market value, whichever is higher at the time of sale.

The highest price of per square meter (PSM) of land under the towns and cities of RDO No. 4 is in Dagupan City.

The highest is Fifty-Five Thousand Pesos (P55,000) per square meter that can be found in Barangay -1 in Dagupan City,” former RDO No.4 Chief Ernesto Mangabat told this writer last year.

He cited that the other PSM with zonal valuation prices of P35,000, P32,000, and P30,000 can be found in Rizal, Fernandez, and Rizal Extension Streets, respectively.

Mangabat said lands in the premier Dagupan City are expensive compared to other provinces like Ilocos Sur.

“Dagupan is Dagupan,” he quipped.