Solons buck BIR taxation on voluntary social fund contributions

By INA ALLECO R. SILVERIO
Bulatlat.com
MANILA – Two party-list lawmakers are going against the plan of the Bureau of International Revenue (BIR) to impose new taxes.

Antonio Tinio of ACT Teachers Party-List and Luz Ilagan of Gabriela Women’s Party said the memorandum circular issued by the BIR imposing taxes on voluntary contributions to the Government Social Insurance Service, the Social Security System, Medicare, and PAG-IBIG violates provisions in existing tax laws.

Last July 11, 2011, the BIR issued Revenue Memorandum Circular 27-2011 (RMC 27-2011) through the office of Commissioner Kim Henares. The two solons point out that it goes against constitutional provisions and runs counter to the National Internal Revenue Code, or Republic Act 8424 (NIRC, or the Tax Reform Act of 1997)..... MORE

Source:  Bulatlat.com

URL: http://bulatlat.com/main/2011/12/07/solons-buck-bir-taxation-on-voluntary-social-fund-contributions/