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BIR to sell IBC land, building

The Bureau of Internal Revenue (BIR) will sell on Thursday the seized land, building and equipment of the government-owned Intercontinental Broadcasting Corporation (IBC-13) to settle its multi-million-peso tax debts.

Acting BIR Commissioner Nestor S. Valeroso said the public auction will be conducted at the BIR main office in Quezon City together with 35 other real estate properties of delinquent taxpayers based in Metro Manila and nearby provinces.

Valeroso has been designated officer-in-charge by Revenue Commissioner Caesar R. Dula who went on a month-long sick leave to undergo hip displacement treatment.

He could not say the exact amount owed by the network, but said the amount was big considering the liabilities have been accumulating for more than a decade, a subject to 20 percent yearly interests.

The BIR asking bid price for the 5,000 square-meter-lot of the TV station located along Capitol Hills Drive in Balara, Quezon City is P408.1 million.

Earlier, the BIR management rejected suggestion from certain quarters to forego the collection of the delinquent accounts since IBC-13 is 100 percent owned by the government.

Valeroso said the BIR has the mandate to collect taxes from all sources including government entities.

He explained that this was not the first time that the seized the assets of state-owned properties are sold via public auction.

The Tax Code authorizes the bureau to garnish and dispose assets of delinquent taxpayers for ignoring final assessment notices, which have become executory and demandable. (JUN RAMIREZ)