Quantcast
Latest Stories

BIR collected P88.76B in June, 11.7% off target

By

The government missed its tax collection target for June amid an across-the-board slowdown in collections from small and large taxpayers, the Bureau of Internal Revenue (BIR) said Monday.

The state tax agency likewise said revenue from non-BIR operations, or taxes collected from the issuance of government securities, fell 16.4 percent in the first half.

For the month of June, the BIR collected P88.76 billion in taxes, P7.42 billion or 9.12 percent more than collections made in June 2012. The growth was slower than the 18.35-percent increase recorded the month before.

As a result, the BIR’s collections missed the P100.5-billion collection target for the month by 11.7 percent.

Collections by the regional offices amounted to P31.53 billion, some P3.5 billion or 12.48 percent more than the collections made in June 2012. Meanwhile, collections by the BIR’s Large Taxpayers Service amounted to P54.75 billion, or P3.87 billion (7.61 percent) higher than the collections made a year ago.

Collections by the BIR of excise taxes on so-called sin products for the first semester of 2013 amounted to P38.54 billion, P12.15 billion or 46.06 percent more than the collections made in the first six months of 2012.

Excise tax collection from tobacco products amounted to P22.38 billion, an increase of P7.77 billion or 53.14 percent. Excise tax collection from alcohol products amounted to P16.16 billion, also up by P4.39 billion or 37.27 percent.

The BIR, which is the government’s main revenue-generating agency, is tasked to collect P1.25 trillion in taxes this year, up 17.59 percent from the 2012 performance.

This takes into account the P34 billion in additional revenues from higher taxes on alcohol and tobacco products that took effect this year. The BIR’s 2013 goal is based on a gross domestic product (GDP) growth forecast of 6 percent for the year.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: BIR , Business , tax collection

  • spitfire

    Is this news?

    Sanay na si Juan dela Cruz dito. BIR and it’s twin collection body BOC are perpetual failures since PNoy sat on his throne. Thjis is what they perpetually flaunted as “sound fundamentals.”



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • UN heads say Syria aid needs ‘largely unanswered’
  • Captain who left doomed ferry had 40 years at sea
  • UK woman held for murder after children’s bodies found
  • Washington calls S. Sudan violence an ‘abomination’
  • Abducted soldier freed in Compostela Valley
  • Sports

  • UP nips St. Benilde; Adamson blasts RTU in Filoil women’s caging
  • Kevin Garnett responds to Raptors’ GM F word
  • Albert Pujols hits 500th HR of major league career
  • UST posts twin kill in Filoil pre-season cup opening day
  • Wizards beat Bulls in OT to take 2-0 series lead
  • Lifestyle

  • Entering the monkhood a rite of passage
  • Haneda International Airport: A destination on its own
  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Entertainment

  • Ex-Fox exec denies allegations in sex abuse suit
  • Kris Aquino backtracks, says Herbert Bautista and her are ‘best friends’
  • Summer preview: Chris Pratt enters a new ‘Galaxy’
  • Bon Jovi helps open low-income housing in US
  • Summer movie preview: Bay reboots ‘Transformers’
  • Business

  • McDonald’s 1Q profit slips as US sales decline
  • SEC approves SM’s P15B retail bond offer
  • $103M Vista Land bonds tendered for redemption
  • Oil slips to $102 as US crude supplies seen rising
  • SC stops Meralco power rate hike anew
  • Technology

  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Brazil passes trailblazing Internet privacy law
  • New York police Twitter campaign backfires badly
  • Opinion

  • One-dimensional diplomacy: A cost-benefit analysis of Manila’s security deal with Washington
  • No ordinary illness
  • Reforest mountains with fire trees and their kind
  • Day of the Earth
  • When will Chinese firm deliver new coaches?
  • Global Nation

  • Hong Kong accepts PH apology; sanctions also lifted
  • China won’t budge, wants PH gov’t to apologize to HK
  • Cha cha train to follow Obama visit?
  • No word yet on inking of US-PH defense pact during Obama visit
  • Filipina, 51, shot dead by 24-year-old American boyfriend
  • Marketplace