Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

BIR, AMLC to strengthen efforts vs tax evasion, money laundering

by
September 2, 2024
in Top News
0
BIR, AMLC to strengthen efforts vs tax evasion, money laundering
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

THE BUREAU of Internal Revenue (BIR) is working with the Anti-Money Laundering Council (AMLC) to boost efforts against tax evasion and dirty money.

“The BIR and the AMLC will work hand-in-hand to run after criminals engaged in violations of our tax and anti-money laundering laws. These two agencies are uniquely situated because their expertise in catching tax evaders and money launderers complement each other,” the tax bureau said in a statement on Monday.

BIR Commissioner Romeo D. Lumagui, Jr. and AMLC Executive Director Matthew M. David, along with officials of both agencies, met on Aug. 29 to discuss their cooperation. Details of the partnership have yet to be finalized, according to the BIR.

“The meeting involved the topic of interagency cooperation and coordination between the BIR and the AMLC, with the purpose of strengthening enforcement activities against the crimes of tax evasion and money laundering,” the BIR said.

“Tax evaders are now using sophisticated ways of evading taxes and storing their illegal wealth. This interagency cooperation between the BIR and the AMLC will pave the way for future investigations on tax evasion and money laundering,” Mr. Lumagui added.

Enrico P. Villanueva, a senior lecturer at the University of the Philippines Los Baños Economics Department, said evidence sharing between the BIR and the AMLC would help strengthen case filings.

“Information sharing between BIR and AMLC certainly helps in the fight against tax evasion and money laundering. Corroborative information can be used as evidence in filing legal cases,” Mr. Villanueva said in a social media message. “There may be legal and operational challenges in ensuring that data privacy and deposit secrecy laws are observed in the process of sharing information. Hopefully, the legal teams of BIR and AMLC are looking into those aspects.” — B.M.D. Cruz

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post
ALLHC to host Malaysian firm’s PHL operations

ALLHC to host Malaysian firm’s PHL operations

Recommended

BIR signals major push against smuggling of farm commodities

BIR signals major push against smuggling of farm commodities

September 30, 2024
Agencies’ incomplete documents delay PPP projects — NEDA chief

Agencies’ incomplete documents delay PPP projects — NEDA chief

September 12, 2024
Music tourism unlocks more opportunities for Philippine travel sector

Music tourism unlocks more opportunities for Philippine travel sector

November 17, 2024
Cotswolds Radio Named 2024 Radio Broadcaster of the Year and Receives South West Community Engagement Award for Exceptional Achievement

Cotswolds Radio Named 2024 Radio Broadcaster of the Year and Receives South West Community Engagement Award for Exceptional Achievement

November 18, 2024
How Marco Polo’s rebrand is catering to business and leisure travelers

How Marco Polo’s rebrand is catering to business and leisure travelers

October 7, 2024
Stay Ahead of Tariffs: Essential Chart Analysis for Investment Security

Stay Ahead of Tariffs: Essential Chart Analysis for Investment Security

February 15, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2025 investdailypro.com | All Rights Reserved