BIR planning to streamline requirements for companies seeking to shut down – BusinessWorld Online
THE Bureau of Internal Revenue (BIR) said it is working to streamline the requirements for companies planning to shut down, Commissioner Charlito Martin R. Mendoza said.
“Since we make registration simple when starting a business, and tax compliance fair and predictable while businesses operate, then the BIR must be efficient and streamlined when enterprises close,” he said in his speech during the National Tax Campaign Kickoff last week.
Mr. Mendoza, who took office in November, said the bureau is pushing its digitalization efforts to make filing easier for taxpayers.
“We make payment easier. We streamline our processes. We revisit our existing issuances. Revenue generation. Revenue memorandum circulars. Let’s see if we can make it easier,” he said, noting this will help value-added tax collections.
Last year, the BIR surpassed its collection target, posting P3.105 trillion and exceeding the P3.101 trillion emerging collection target, which had been lowered in December.
For 2026, Mr. Mendoza said the P3.58-trillion goal is “very challenging but we will do our best,” and will focus more on real-time monitoring to prevent revenue leakages.
He is also banking on sustained economic growth, expanded digitalization, and taxes on digital services platforms to meet its ambitious collection target this year.
The government also expects P21 billion in revenue from the foreign digital platforms this year after collecting P8 billion in 2025.
“I remind the BIR that revenue collection rests on public trust. And therefore, ensure that our reforms are geared towards making our tax system more transparent and more productive,” President Ferdinand R. Marcos, Jr. said in a video message.
Mr. Marcos added that micro and small enterprises should be guided to ensure they are compliant with taxation requirements. — Aubrey Rose A. Inosante