BIR reports 20% hike in July collections
More News from Philippine Daily Inquirer
The Bureau of Internal Revenue achieved a nearly 20-percent increase in tax collection in July, but still fell short of its target for the month.
This came as the government cited the need to ramp up its campaign against tax evasion, which officials claimed remained a rampant activity in the country.
The increase in tax collections, so far, this year is attributed to robust economic growth, which naturally comes along rising incomes of corporate and individual taxpayers. But tax officials admitted there was room for a more significant growth in government revenues, noting the serious problem of income under-declaration and non-payment of taxes.
In a report released yesterday, the BIR said tax collection in July amounted to P100.1 billion, up by 19.85 percent from P83.52 billion in the same month last year.
However, the collection for the month was 0.6 percent short of the target of P100.72 billion assigned by the Department of Finance.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
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