The district office of the Bureau of Internal Revenue (BIR) in Palawan has reminded political candidates, their parties, and campaign contributors to register with the bureau so that their expenses for the May 2022 local elections may be recorded.
According to revenue district officer Jose Luna, the bureau has already held virtual seminars to remind them on BIR compliance procedures beginning in December in preparation for the election on May 9.
The duty to register or update with their registration with the bureau of their jurisdiction is in accordance with the guidelines stated in Revenue Memorandum Circular No. 38-2018 and No. 31-2019.
“We are engaging them to register kasi kailangan ma-register sila for us to capture them ‘yong expenses nila. Kasi kapag wala, makikita namin sa SOCE ‘yon, statement of contribution and expenses (expenditures). Kapag registered sila, makakuha kami sa COMELEC, we can go after. We have to engage to them na magpa-register para ma-capture namin,” he said.
All candidates, political parties, and party-list groups shall pay an annual registration fee of P500. Luna added that the political candidates may also close their registrations after the election.
The bureau reminded the political candidates and parties of other obligations such as registering their book of accounts and non-VAT official receipts to be issued for every contribution received, whether in cash or in kind.
Accounting records containing contributions and expenditures must also be preserved by all political parties, party-list groups, together with all pertinent documents, for a period of years from the close of the taxable year during which the election was held.
“Ang mga candidates, after election, pwede naman sila mag-close, i-close ang kanilang registration–We have already made seminars for them, ‘yong election officials kasi kailangan ma-register. Nag-webinar na kami last December,” he said.
The bureau believes that it will also help the performance of the collection for the year 2022 despite the ongoing pandemic and effect of typhoon Odette.