MikeLigalig.com

By JUN RAMIREZ
Manila Bulletin

The Bureau of Internal Revenue (BIR) disclosed Sunday that many candidates running for various posts in the upcoming elections, to include some presidential bets, have not registered as tax withholding agents with the bureau, as required by law.

Under the law, candidates are required to register with the BIR as tax withholding agents and then collect and remit on a monthly basis a five-percent withholding tax on their campaign expenses.

However, many candidates running for various posts have not yet registered as tax withholding agents with the BIR, said BIR Deputy Commissioner for Operations Nelson Aspe.

Aspe said reports from revenue district offices throughout the country show that “only few (candidates) have registered with us.”

He said the BIR is giving candidates for elective positions until a month after the May 10 elections to settle their respective five-percent withholding tax duties on their campaign expenses.