Metro Manila (CNN Philippines, July 13) — The Bureau of Internal Revenue (BIR) has exceeded its target collection in January to May, with a nearly 10% year-on-year increase in collection.
Total gross collection stood at ₱1.056 trillion, higher than the goal of ₱1.331 billion for the period, the BIR said on Thursday.
This is also 9.94% higher than collections for the same period last year.
“With the intensification of the bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, we are confident that the BIR can attain, if not surpass, its annual collection target this year,\” said BIR Commissioner Romeo Lumagui Jr. in a statement.
The BIR has set a collection target of ₱2.599 trillion for 2023. It is ₱256.444 billion (10.9%) higher than the ₱2.34 trillion collected in 2022.
