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House panel to BIR: Liquidate P100-B forfeited properties By Gerry Baldo 07/30/2011

Saturday, July 30, 2011

House panel to BIR: Liquidate P100-B forfeited properties

By Gerry Baldo 07/30/2011

The House committee on ways and means yesterday asked the Bureau of Internal Revenue (BIR) to liquidate over P100 billion worth of properties it had forfeited in favor of the government.

According to Valenzuela Rep. Magtanggol Gunigundo, vice chairman of the ways and means panel, the properties have been idle in the BIR for three decades since the seventies.

“There are money and assets forfeited in favor of the Philippine government that are being hoarded by the BIR. This is atrocious. It should liquidate these properties immediately,” Gunigundo told House reporters.
Gunigundo also asked the BIR, now headed by Commissioner Kim Henares, to submit a list of all the properties that it forfeited in Isabela, Pampanga and some provinces in Cagayan as well as in Caloocan City that would help the panel to determine how much funds the government can generate in selling the assets..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/metro/20110730met1.html

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