Senator Francis Escudero, a candidate in the Philippines’ 2010 presidential elections, has said that around PHP300bn (USD6.3bn) in taxes is lost each year through poor administration by the Bureau of Inland Revenue (BIR) and the Bureau of Customs (BOC).
Speaking at the Economic Agenda of the 2010 Presidentiables Forum of the Economic Journalists Association of the Philippines, he cited the BIR and the BIC as two of the country’s institutions that had been, in his opinion, “severely weakened.”
He went on to say that smuggling was estimated to cost tax revenue service around PHP480bn every year. In addition, he said, "the uncollected VAT alone would be over PHP50bn.”
Apart from improving governance within the country’s tax institutions, he also cited the reduction of bureaucratic costs as a key objective. He said there should be a very sharp focus on lowering the costs of doing business in the country, so as to attract investment and increase employment.
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