INQUIRER.net: Revenue agencies told to curb gold smuggling

INQUIRER.net Philippine News for Filipinos

Revenue agencies told to curb gold smuggling May 12th 2013, 23:16 MANILA, Philippines—The Department of Finance wants its two attached agencies—the Bureau of Internal Revenue and the Bureau of Customs—to curb the smuggling of gold out of the country and boost tax collection from the sale of the precious metal.   Finance Secretary Cesar Purisima said the revenue agencies need to strengthen their respective monitoring systems to address the steep drop in gold purchases by the Bangko Sentral ng Pilipinas.   The central bank is tasked to buy gold from small miners in the country.   Purisima said reducing or eliminating the tax on gold sales is not the way to address the problem.   "There should be better ... Keep on reading: Revenue agencies told to curb gold smuggling Media files: finance-logo.jpeg (image/jpeg)

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