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BIR misses collection target anew

P128.27B in revenue last month up 14.6% year-on-year
By: - Reporter / @bendeveraINQ
/ 12:08 AM June 18, 2014

Bureau of Internal Revenue building. INQUIRER FILE PHOTO

Tax collections of the Bureau of Internal Revenue (BIR) in the month of May grew at a double-digit rate, although still short of the agency’s target.

Data released Tuesday showed that the BIR collected P128.27 billion last month, up 14.63 percent or P16.37 billion from its collection in May last year.

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

Revenue from BIR operations jumped 14.57 percent to P125.46 billion last month, 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.

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As for collection 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 to May’s collections, 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.

Collection by the BIR’s regional offices in May, meanwhile, 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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TAGS: BIR, Business, tax collection
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