BIR collections up in May but below target

Bureau of Internal Revenue building.  INQUIRER FILE PHOTO

MANILA, Philippines—Tax collections of the Bureau of Internal Revenue in the month of May grew by a rate in double-digits although they were still short of the agency’s target.

Data released on Tuesday showed that the BIR collected P128.27-billion in taxes last month, up by14.63 percent or P16.37-billion  from collections in May last year.

Despite the double-digit year-on-year increase, the BIR’s haul last May was 4.24-percent below or P5.68-billion lower than the agency’s collections goal of P133.95 billion for the month.

Collections from BIR operations jumped 14.57 percent to P125.46 billion in May, exceeding by P15.96 billion last year’s haul, but still 3.65-percent or P4.75-billion short of the P130.21-billion target.

As for collections from non-BIR operations, the P2.81 billion posted last month was 17.42-percent or P417.07-million more year-on-year, although 24.92-percent or P933-million less than the P3.74-billion goal.

Large taxpayers contributed P82.89 billion, which was 11.82-percent or P8.76-billion higher year-on-year. Last month’s collections from large taxpayers, however, were 7.37-percent or P6.86-billion short of the target.

Collections by the BIR’s regional offices in May reached P42.58 billion, up 20.35-percent or P7.2 billion year-on-year. The regional offices’ combined haul was only 0.6-percent or P257-million lower than their goal last month.

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