This was disclosed yesterday by Finance Secretary Margarito Teves as he appealed to taxpayers based in the Makati and nearby cities to be more religious and prompt in remitting their tax payments.

The finance chief issued the appeal at the launching of Makati Revenue Region’s 2006 tax campaign held at the Market Market shopping mall in Taguig City.

The campaign is being spearheaded by Makati Revenue Regional Director Nelson Aspe and his assistant Ma. Nieva Guerrero.

Teves is expected to make the same appeal when he meets with Filipino-Chinese businessmen in today’s kickoff ceremony for the tax campaign of the Manila revenue region at the Filipino-Chinese Federation building in Binondo.

The finance chief, however, admitted that he was not quite familiar with the assessment imposed by the BIR on PDIC, which earlier contested the assessment on the ground that its charter exempts it from paying value-added tax (VAT).

He nonetheless asked the PDIC "to help the BIR raise funds" in his capacity as chair of the government-owned insurance firm.

Meanwhile, Aspe and Makati North Revenue District Officer Gerry Dumayas said the huge assessment on PDIC covered VAT which the firm incurred in the past seven years from premiums paid by banks to insure their clients’ deposits.

In settling its tax debts, PDIC said it was willing to pay up to P2 billion to settle the assessment.

But BIR officials said they were not in a position to accept the offer as the matter can only be decided by higher authorities with the Department of Justice acting as some sort of an arbiter.

Manila Revenue Regional Director Fred Misajon and Assistant Director Zeny Garcia said Teves, BIR Commissioner Jose Mario Buñag and Manila Mayor Lito Atienza will lead city businessmen in today’s launching of their 2006 tax campaign.

In his short speech at the Market Market, Teves asked businessmen and professionals present in the gathering for their support so that the government will have enough funds for government projects like education and health care.

He added that if the BIR hits its P675-billion target for the year, the government will be able to support the ongoing economic momentum.