BIR collections up 5.6% in first 10 months to P2.8T

Detailed summary

The Bureau of Internal Revenue’s (BIR) gross revenue collections increased by 5.63 percent in January to October this year. In a statement ...

MANILA – The Bureau of Internal Revenue’s (BIR) gross revenue collections increased by 5.63 percent in January to October this year.

In a statement Thursday, BIR said total collections reached PHP2.814 trillion as of Nov. 12.

For October alone, gross collections also rose by 5.92 percent to PHP348.54 billion.

BIR Commissioner Charlito Mendoza said the agency is targeting to surpass the PHP3 trillion collection mark before the end of November.

“We are looking to breach the P3 trillion mark in revenue collections before the end of November and aim to sustain our above 5% year-on-year growth,” he said.

“We will continue to strengthen tax compliance and protect the revenue base while making it easier for taxpayers to fulfill their obligations,” Mendoza added. The BIR continues to strengthen revenue collection through closer revenue monitoring, enforcement against tax evasion and illicit trade, and improvements in taxpayer services. (PNA)

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