MBC Statement of Support to BIR

4 March 2005 -- The Makati Business Club supports the Bureau of Internal Revenue (BIR) in its drive to generate more revenues in line with the National Government’s aim to attain a balanced budget.

The issuance of Revenue Regulations (RR) 11-2004 and 5-2005 by the BIR is a concrete step towards this end as both regulations ensure the integrity, reliability and validity of data from business establishments. RR 11-2004 sees to it that only CRM and POS machines duly accredited and registered with the BIR are used for business purposes. RR 5-2005 supplies data to the BIR on the monthly sales of business through electronic means (Internet, SMS and e-mail).

Both RRs enhance the BIR’s tax collection efficiency even as they make compliance and reporting on the part of taxpayers easier and more convenient.

GUILLERMO M. LUZ
Executive Director