BIR May collection misses goal

Revenue collections of the country’s main tax agency in May fell short of its target by nearly 2 percent, the agency said Wednesday.

The Bureau of Internal Revenue, which accounts for about two-thirds of total state revenue, collected P88.15 billion, P1.57 billion below its goal of P89.72 billion for the month.

Compared to a year ago, the agency’s May collections were up 11.5 percent.—Reuters