NO INCREASE. Bureau of Internal Revenue commissioner Romeo Lumagui Jr. speaks to a crowd of stakeholders in Cagayan de Oro City for the regional roadshow on the implementation of Republic Act (RA) 11976 or the Ease of Paying Taxes (EOPT) Act. Lumagui said that instead of increasing tax rates, the government will maximize the use of EOPT for efficient collection. (Photo courtesy of MisOr PIO)
CAGAYAN DE ORO CITY – The Bureau of Internal Revenue (BIR) on Monday assured that tax rates and collection will not increase next year as it oriented Northern Mindanao stakeholders on new changes in the tax collection system under the Republic Act (RA) 11976 or the Ease of Paying Taxes (EOPT) Act.
During a roadshow in this city, BIR Commissioner Romeo Lumagui Jr. said that while the executive department is eyeing approval of the 2025 general appropriation fund in Congress, he assured there would be no increase in the tax rate and collection.
"Instead, our government is focusing on this one, the EOPT law, because we are fully aware that new taxes can potentially hinder the growth of businesses," Lumagui, a lawyer, said.
Budget and Management Secretary Amenah Pangandaman proposed a national budget for the fiscal year 2025 pegged at PHP6.352 trillion.
The national budget seeks to continue fostering economic and social transformation for a prosperous, inclusive, and resilient future under President Ferdinand R. Marcos Jr.'s vision of a "Bagong Pilipinas."
BIR Deputy Commissioner Maridur Rosario said the region is the seventh in the country provided with EOPT system, including law provisions amending the National Internal Revenue Code of 1997.
"Key highlight (of EOPT) is categorizing taxpayers into four distinct groups --the micro, small, medium and large," she said.
Rosario said the groupings would be convenient for taxpayers to file and pay anywhere, which removes the annual registration fee of PHP500, especially for business taxpayers.
The EOPT Act further outlined new policies regarding the time and filing of taxes and liabilities.
The law also outlined additional provisions on value-added tax, taxes on overseas shipments, and the responsibilities of internal revenue officers. (PNA)
