Tax amnesty for past 17 years eyed

While final details of the general tax amnesty eyed for enactment this year are still being ironed out, the Department of Finance (DOF) disclosed that the measure will likely cover taxable years 2007 to 2024, resuming from the last time a similar law was implemented, which raked in billions of pesos in tax collections.

- By DERCO ROSAL

During the Development Budget Coordination Committee (DBCC) briefing at the Senate finance committee on Monday, Sept. 1, Finance Undersecretary Charlito Martin R. Mendoza told senators that the proposed tax amnesty will cover all internal revenue taxes spanning from 2024 to as far back as 2007.

Mendoza, who oversees the operations of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), told reporters that additional collections from the proposed general tax amnesty could “possibly” be higher than the contribution generated in 2007.