The Bureau of Internal Revenue has required banks authorized to collect taxes on behalf of the government to extend their operating hours and increase their personnel to accommodate tax payments from the public as the April 15 deadline for the filing of income tax returns draws near.
The Subic Bay Metropolitan Authority (SBMA) on Tuesday reported that government revenue agents in the country’s freeport collected more in 2012 than the previous year and had turned over the amount to the national treasury.
The Bureau of Internal Revenue collected P110.8 billion in November, meeting its monthly target for the second month in a row.
The government reduced its budget deficit by more than half in October after it stepped up collection of taxes and import duties to boost the state’s coffers, the Department of Finance said.
Collections of the Bureau of Internal Revenue for October amounted to P86.1 billion, up 22 percent from P70.5 billion in the same month last year but still short of the P86.18-billion target for the month.
MANILA, Philippines—The Bureau of Internal Revenue is confident its tax collection this year will, for the first time, surpass the P1-trillion mark. Revenue Commissioner Kim Henares told reporters Thursday that preliminary estimates had shown that the agency was on track to generating more than P1 trillion in taxes this year. “We will exceed [...]
The Bureau of Internal Revenue collected P96.8 billion in August, again falling short of its monthly target for the second month in a row following a rare success last June.
The government posted a budget deficit of P39.2 billion in July as expenses and revenues continued to grow by a double-digit pace year-on-year.
The Bureau of Internal Revenue collected P83.5 billion in July, again falling short of its monthly target after a rare feat in June when it exceeded the month’s goal by about 8 percent.
The Bureau of Internal Revenue (BIR) collected P81.34 billion in June, finally exceeding its target after failing to do so for months.
In a move to hit the tax collection target for the year, the Bureau of Internal Revenue (BIR) has adopted a new strategy dubbed as “benchmarking method,” which was proven effective even in other countries.
The Bureau of Internal Revenue collected P95.55 billion in May, falling short of its target for the third month in a row. According to BIR data released Friday, May collection was 9.3 percent, or P8.9 billion, lower than the P104.48-billion goal set for the month.
