Lilian Hefti, the commissioner of the Bureau of Internal Revenue in the Philippines has announced her resignation this month, citing an on-going problem with her health as the main reason.
Speculation is rife, however, that Ms Hefti's resignation - which comes little over a year since she took on the role - may have been due to several other factors which remain to be announced.
Tax revenues have suffered this year, with figures failing to meet targets set out at the beginning of 2008. In light of this, it has been predicted that the department will fall short of its overall P845bn (USD17.93bn) estimate for this year, and it is believed that these figures may have had something to do with Ms Hefti's decision to leave her post.
The BIR have pinned responsibility for the drop in revenues on current ecomonic conditions plus higher than usual tax relief payouts to minimum-wage earners.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment