BIR collection up by 12%in January to July

THE Bureau of Internal Revenue (BIR) on Tuesday reported that collections in January to July this year
increased by 12.21 percent.

In a statement, the BIR said total gross collection during the period amounted
to PHP1.49 trillion (net of tax refund), up by PHP162.40 billion than the tax collections in the same period last year. For July alone, collection amounted to PHP272.13 billion, up by 38.37 percent from the total collection in the same month last year.

The amount collected during the period also exceeded the collection target by 5.09 percent or PHP13.22 billion. For this year, the BIR’s collection target amounts to PHP2.64 trillion.

This is higher by 12.9 percent or PHP303.50 billion than the 2022 actual collection.

“With the intensifi cation of the Bureau’s tax enforcement activities, specifi cally on the campaign
against sellers and buyers of fake receipts, and with our newly forged partnership with multi-sectoral groups for the enhancement of taxpayers’ service, we are confi dent that the BIR can attain, if not surpass, its annual collection target this year,” BIR Commissioner Romeo Lumagui Jr. said. (PNA)