BIR reminds candidates on 5% remittance of campaign expenditures
Now that the election is over, the candidates’ next obligation is to submit their statement of expenditures with the Comelec.
Revenue District Officer Nelia Demalata of BIR-RDO 74 said that they get their lists of candidates, political parties and contributors from the Comelec, who are supposed to remit 5% of their campaign expenditures in the just concluded May 10 polls.
She said that the BIR Revenue District Office (RDO) 74 has created a committee or taskforce to attend to this concern.
Demalata said in a PIA interview that some candidates have already remitted the 5-percent taxable portion of their election-related spending.
The RDO 74 chief said that for those candidates who have yet to remit their election-related spending with the BIR, they have until June 10 to do so.
She did not give the expected tax collection from this sector because the BIR will still get the statement of expenditures from the Comelec for those candidates who have not yet submitted the said requirements.
RDO 74 covers Iloilo City, the Province of Guimaras, the towns of Oton to San Joaquin, Aleosan, Pavia to Cabatuan and Leganes, Demalata said. (PIA6/T.Villavert)
