SUBIC Bay Freeport: Locators inside this Freeport, headed by Subic Bay Freeport Chamber of Commerce (SBFCC) President Danny Piano, protested the new Bureau of Revenue (BIR) order implementing taxes on oil products here.
\nThis after the BIR issued last week Revenue Regulation-2-2012 that would tax oil companies even those inside the Freeport zones starting next week.
\nThe BIR however noted that it would be refunded if buyers can show proof that the oil products were consumed inside the Freeport.
\nThe order was setup to curb reported oil smuggling inside the Freeport of the country.
\n\u201cIn light of reported rampant smuggling of petroleum and petroleum products resulting to substantial revenue losses, it becomes mandatory for the government to immediately implement corrective measures to stop this activity in order to ensure the collection of correct taxes,\u201d the BIR state.
\nBut Piano explained that Subic Freeport is operated and managed as a separate customs territory under Republic Act 7227.
\n\u201cI think it is questionable that a mere government agency regulation can override a law legislated by the Philippine Congress.\u201d Piano said.
\nPiano further explained that the regulation, while targeting importers, will eventually affect and inconvenience all locators.
\nThis is because of the provision that \u201cno claim for refund shall be granted unless it is properly shown to the satisfaction of the BIR that said petroleum or petroleum products have been sold to a duly registered locator\u201d, according to Piano.
\n\u201cIt is very disconcerting that investors and locators are the ones who will be penalized and forced to take the brunt of additional bureaucracy when the solution to the problem simply lies in government agencies doing their jobs,\u201d Piano added.
\n\u201cWe appeal to Finance Secretary Cesar Purisima and BIR Commissioner Kim Henares to rescind RR 2-2012, and to our legislators and President Aquino to repeal this overreaching and burdensome regulation.\u201d Piano said.
\nhttp:\/\/subictimes.com\/2012\/03\/07\/subic-locators-cry-foul-over-new-bir-order\/<\/p>\n
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\nCreekside Road corner of Centennial Road,
\nCentral Business District, Clark Freeport Zone,
\nPampanga, Philippines 2023<\/p>\n
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\n3003C East Tower, Phil Stock Exchange Center,
\nExchange Rd Ortigas Metro Manila, Philippines 1605
\n(632) 637-5019 0917-520-4393 Rea or Chay<\/p>\n