The Bureau of Internal Revenue collected P71 billion in September, falling short of its monthly target for the third month in a row.
The Bureau of Internal Revenue collected P71 billion in September, falling short of its monthly target for the third month in a row but growing at a double-digit rate from a year ago for the seventh month this year.
According to BIR data released on Monday, September collection was 4 percent, or P2.9 billion, lower than the P73.9-billion goal for the month. However, last month’s yield was 6.8 percent, or P4.5 billion, higher than the P66.5 billion collected in September 2011.
Tax inflow last month brought revenues for the nine months to September to P772.5 billion, missing the target of P800.3 billion by 3.5 percent, or P29.8 billion. The nine-month collection was 12.6 percent, or P86.2 billion, higher than the P686.3 billion posted in the same period of 2011.
“Collections from regional offices continued a trend of double-digit year-on-year growth being (observed) this year,” the BIR said in a statement.
In September alone, regional offices turned in P26.2 billion, which was P3.8 billion, or 17.1 percent, more than the collections made in the same month last year. Also, regional offices together surpassed their month’s goal of P27.04 billion by P820 million, or 3.2 percent, the BIR said.
As for the Large Taxpayer Service, September collections reached P41.5 billion, which was P4.3 billion, or one percent, more than the year-ago level.
Based on previous statements from the Department of Finance, September was the seventh month this year that the BIR posted double-digit year-on-year gains for monthly collections.
If the Bureau of Customs performs similarly, this would mean the fourth month that both agencies showed double-digit yearly growth in their monthly collections.
Finance officials have suffered a blow on their revenue outlook for the coming years as the Senate committee on ways and means forwarded to the plenary a watered-down version of the proposed “sin tax” bill, effectively halving projected revenues from tobacco products and alcoholic drinks.
In the previous several months, Finance Secretary Cesar V. Purisima reiterated that the DOF was keen to see the passage of its proposal as well as the rationalization of fiscal incentives.
Internal Revenue Commissioner Kim Henares said she remained confident that the Department of Finance-backed version of the “sin tax” bill would be passed into law.
Henares said she maintained such view amid statements from the House of Representatives and Malacañang of continued support for the so-called amended Abaya bill, or the version that the lower chamber submitted to the Senate.