Hello, may I ask for your professional opinions on BIRs requirement on withholding agents particularly banks in submitting alphalists of all their income payees? I think its a violation of the bank secrecy law, particularly Section 2 of RA 1405 which contains: SECTION 2. All deposits of whatever nature with banks or banking institutions in the Philippines including investments in bonds issued by the Government of the Philippines, its political subdivisions and its instrumentalities, are hereby considered as of an absolutely confidential nature and may not be examined, inquired or looked into by any person, government official, bureau or office, except upon written permission of the depositor, or in cases of impeachment, or upon order of a competent court in cases of bribery or dereliction of duty of public officials, or in cases where the money deposited or invested is the subject matter of the litigation. Any response would be very much appreciated. Thank you.
Posted on: Sun, 10 Aug 2014 04:44:29 +0000
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