The Bureau of Internal Revenue (BIR) and the Anti-Money Laundering Council (AMLC) have agreed to strengthen their collaboration to enhance the fight against financial crimes.
BIR commissioner Romeo D. Lumagui Jr. met with AMLC executive director Matthew M. David and other AMLC officials on August 29, to discuss strategies for intensified interagency cooperation.
The partnership aims to bolster enforcement actions against tax evasion and money laundering,
“Tax evaders are now using sophisticated ways of evading taxes and storing their illegal wealth,” said Lumagui.
He emphasized the importance of the collaboration, noting that it will facilitate future investigations into these financial crimes.
“The law is clear, all sources of income, whether from legal or illegal means, are taxable,” he added.
