The Bureau of Internal Revenue (BIR) has reminded local and national candidates that they must declare unused campaign funds so that they can be taxed. According to BIR Commissioner Romeo Lumagui, there is no problem if the candidate keeps the excess funds as long as he pays income tax.
Before the campaign started in March, the BIR had already issued regulations, including a 5% withholding tax on expenditures of candidates and party-lists. All expenses subject to the tax are considered campaign funds used.
After the elections, each candidate must submit a Statement of Contributions and Expenditures (SOCE) to the Commission on Elections (Comelec). Failure to submit this may result in penalties and charges for tax evasion, Lumagui added.
In addition, up to 33 tons of illegal campaign posters were removed from February 11 to April, according to MMDA. Included in the removal were posters on posts, trees, bridges, and other prohibited areas as part of the Comelec Oplan Baklas.
