Infographic: Marikina pawnshop pays only P26 in taxes
MANILA, Philippines - One out of 20 pawnshops did not pay taxes in 2011 while some paid as low as P26, the Bureau of Internal Revenue (BIR) revealed on Thursday.
According to the latest infographic released by the agency, there were a total of 5,248 pawnshops registered in the BIR's Integrated Tax System in 2011.
Of this figure, only 5,003 paid taxes.
The BIR said gross income of pawnshops in 2012 increased by 1.66 percent from 2011. However, tax collections from these establishments decreased by 9.25 percent.
The agency further disclosed some "ridiculously low" income tax dues in 2011. Based on the data from revenue district offices, the St. Ernest Pawnshop in Marikina City paid only P26.10 in taxes.
In Caloocan City, the Camarin Pawnshop Inc. was said to have paid just P288.88 in taxes while the Elite Pawnshop in West Pasig paid only P227.92. Mega GHQ Pawnshop Inc. in Taguig reportedly paid only P166.85 while Skyland Pawnhop Inc. in Batangas City, was said to have paid just P72.38.
The BIR said 15 out of 90 pawnshops registered in its Revenue Region 7 did not file their income tax returns.
This area covers Quezon City, Mandaluyong, San Juan, Pasig, Marikina, and Cainta-Taytay.
The BIR also noted that the average 2011 tax collections from some first class cities were much lower that those from fourth class cities.
In Parañaque City, for instance, the average tax collection was P41,694.83 but in Trece Martires, Cavite, an average of P128,130.76 was collected.
The latest BIR inforgraphic, posted on the government's Official Gazette, is part of the agency's Tax Watch campaign with the Department of Finance.
The agencies said the goal of the campaign is to "increase transparency on tax payments and to encourage people to be conscientious in paying the right taxes."
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