MENU

MAASIN CITY (PIA) -- Cash monies received by an individual candidate or through the political party in the form of donations or contributions are subject to 5% withholding tax, the head of the Bureau of Internal Revenue (BIR) - District Office 90 declared.

“They are mandated to issue receipts everytime they get campaign funds," Noemi Abiera Pizon, revenue district officer, disclosed in an interview over Kapihan sa PIA on Wednesday, March 23.

The payment of withholding taxes may be made monthly or can be done one-time, in a single transaction, after the elections, said Pizon.

Earlier, Atty. Maria Corazon Montallana, Comelec provincial elections supervisor, reported that candidates must file their Statement of Contributions and Expenses (SOCE) right after the elections as required by law.

Both the winning and the losing candidates must do the SOCE filing, Montallana pointed out, adding that this was one of the topics discussed by a BIR representative during a Comelec briefing with provincial-level candidates on March 9.

Pizon said she was not able to attend the briefing but she sent her assistant, Susan Dy Golo, on her behalf.

Meanwhile, Pizon called on all taxpayers to file their income taxes early to avoid the rush.

This year’s deadline was moved to April 18, since April 15 is Good Friday, a regular holiday, she added. (LDL/MMP/PIA8-Southern Leyte)