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Bureau of Internal Revenue Commissioner Romeo Lumagui Jr. holds a fruitful discussion with the Anti-Money Laundering Council represented by executive director Matthew David on Aug. 29, 2024 on interagency cooperation and coordination to strengthen enforcement against tax evasion and money laundering.The Bureau of Internal Revenue and the Anti-Money Laundering Council are working together to combat tax evasion and money laundering.
“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,” Lumagui said. The BIR said an example of a sophisticated tax evasion scheme is the use of ghost receipts. Buyers of these receipts use it to lower their tax liabilities illegally because the sellers or issuers of such receipts do not have legitimate business activities.
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