Philippine News Agency
BIR serves tax audit orders to flood control contractors
The Bureau of Internal Revenue (BIR) has issued Letters of Authority (LOAs) to the country's top 15 flood control contractors during a Senate Blue Ribbon Committee hearing, initiating parallel tax investigations.
These LOAs empower tax officials to audit the contractors' financial records and verify tax compliance under the BIR's Run After Tax Evaders (RATE) program.
BIR Commissioner Romeo Lumagui Jr. stated that the people's taxes should fund genuine projects, not ghost projects.
The BIR will fully cooperate with the Senate's investigation into alleged anomalies.
The bureau has also issued Revenue Regulation (RR) No. 17-2024, requiring contractors to present updated income tax returns and tax clearances before participating in public bidding.
These new rules aim to ensure that all earnings from government projects are correctly taxed.
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