The Bureau of Internal Revenue (BIR) recorded higher tax refunds in January to September this year.
In a statement Friday, the BIR said tax refunds during the period went up to PHP23.67 billion from last year’s PHP12.42 billion.
It attributed the increase to the accelerated release of approved refunds to taxpayers and businesses.
This is in line with President Ferdinand R. Marcos Jr.’s directive to promote a more business-friendly environment.
“These are lawful refunds due to our taxpayers. Once a refund has been properly evaluated and approved for release, we see no reason to unnecessarily delay it. We want to put that money back in the hands of our businesses so they can use it for operating expenses, preserve cash flow, and keep their businesses moving, especially during this energy crisis,” BIR Commissioner Charlito Mendoza said.
“Tax administration is not only about collecting what is properly due to (the) government. We must also return what is properly due to the taxpayer once the claim has been evaluated and approved.” (PNA)
