BIR collections up 11% in 1st quarter
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.
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.
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.
