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BIR turns down insurance firms' plea to suspend tax collection.
(From Philippine Daily Inquirer)
Byline: Michelle V. Remo
THE BUREAU of Internal Revenue has turned down the plea of non-life insurance companies to temporarily spare them from the collection of withholding tax, a move that would adversely affect government's effort to generate additional revenue.
BIR Deputy Commissioner Kim Henares said that there is no reason for government to stop collecting withholding tax from insurance companies and their clients because the tax-withholding system is simple, and not complicated ...
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