As the midterm vote count is almost over, the Bureau of Internal Revenue (BIR) has reminded both winners and losers as well as political parties to submit their respective Statement of Contributions and Expenditures (SOCE) to the Commission on Elections (COMELEC) on or before June 13.
Revenue Deputy Commissioner for Operations Arnel Guballa said donor’s and income taxes will be collected from contributions and donations received by political bets and parties that failed to submit the documents as mandated by Revenue Memorandum Circular 31-2019.The revenue official said the SOCE must include supporting documents like cash receipts and disbursement books, including the five percent creditable withholding tax on purchases of goods and services used during the campaign.
Guballa stressed that contributions spent before and after election period as declared by the COMELEC will be subject to donor’s tax and can’t be considered political contributions.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Top 15 senatorial candidates performed in INC provincesDid Iglesia Ni Cristo-backed candidates prevail in the top INC provinces? Find out in this RapplerIQ: PHVote
Read more »
#HalalanResults: In this Palawan town, some candidates for Senate, party-list got 0 votes
Read more »