outbrain
Close  

BIR collections up 11% in 1st quarter

By: - Reporter / @bendeveraINQ
/ 05:10 AM April 27, 2019

The Bureau of Internal Revenue (BIR) grew its collections by over a tenth to P468.2 billion in the first quarter on the back of better tax administration and the second round of excise hikes under the Tax Reform for Acceleration and Inclusion Act.

The latest Bureau of the Treasury data showed that the BIR’s tax take jumped 11 percent from P423.1 billion during the first three months of last year.

ADVERTISEMENT

The BIR’s gross first-quarter collections, or inclusive of tax refunds, totaled P468.9 billion.

In the month of March alone, the BIR collected P147.4 billion, up 13 percent from P130.8 billion a year ago.

FEATURED STORIES

Inclusive of tax refund, the country’s biggest tax-collection agency was able to generate a higher P148.1 billion in March.

In a report, the Treasury said it was the third consecutive month that the BIR increased its collections year-on-year.

Last week, Internal Revenue Commissioner Caesar Dulay told reporters that the BIR was optimistic it would achieve its P2.27-trillion target for 2019 due to additional gains from the tax amnesty program.

The BIR’s revenue goal was cut from P2.33 trillion previously as President Duterte vetoed the provision on general amnesty from Republic Act No. 11213, or the Tax Amnesty Act of 2019, which would have raised P6.82 billion.

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bureau of Internal Revenue (BIR), Bureau of the Treasury, excise hikes, Tax Reform for Acceleration and Inclusion Act
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.