BIR end-Sept. tax take tops P1T but falls short of goal once more
The Bureau of Internal Revenue (BIR) grew its tax take in September by 6 percent to P112.3 billion, although it again missed its target at the end of the third quarter.
The BIR’s collections last September were higher than the P105.7 billion collected in the same month last year.
The country biggest revenue collection agency, however, failed to meet its adjusted P149.2-billion goal for the month.
In August, the BIR exceeded its monthly target for the first time this year, as actual collections of P138.5 billion surpassed the adjusted goal of P131.7 billion.
At the end of the first nine months, the BIR collected a total of P1.075 trillion, up 8 percent from P996.4 million a year ago.
It was the first time that the BIR exceeded the P1-trillion collections mark at end-September.
However, the BIR still missed its nine-month target of P1.239 trillion.
The BIR aims to collect P1.674 trillion in taxes by yearend, about a fourth more than the P1.335-trillion take last year, which was also short of the 2014 goal worth P1.456 trillion.
For 2016, the BIR’s revenues had been programmed by the Cabinet-level, interagency Development Budget Coordination Committee to further increase to P2.026 trillion, the first time collections could breach the P2-trillion level.
But last September, BIR Commissioner Kim S. Jacinto-Henares told a Senate hearing that these annual targets are “very ambitious,” hence could unlikely be achieved. Ben O. de Vera
