BIR exceeds targets, nets P172.5B in May
Monthly and year-to-date collection targets were exceeded in May by the Bureau of Internal Revenue (BIR), which reported netting P172.49 billion — up 8.6 percent from a year earlier.
The result bettered the month’s P166.75-billion goal and brought the five-month take to P827.91 billion, 14.7 percent higher year on year and also exceeding the P803-billion target for the period.
“Minus the goal from non-BIR operations (over which the bureau has no control), the [May] surplus is pegged at a higher rate of 4.31 percent or P7.02 billion,” the BIR said in a statement.
Year to date and again excluding the non-BIR operations target, the surplus was pegged by the bureau at P29.38 billion.
It also claimed to have posted achievement rates of 103.1 percent for the five-month period and 103.4 percent for May.
“BIR Commissioner Caesar R. Dulay is appealing once again to all taxpayers to file their tax returns early to avoid the rush and to pay their taxes correctly to obviate stiff penalties,” it said.
“He also appeals to taxpayers to continue supporting the programs of President Rodrigo Roa Duterte. The increase in collection is also due to the sustained support and efforts of the BIR personnel.”
The tax bureau is aiming to collect P2.039 trillion this year with a boost expected to come from the implementation of the Tax Reform of Acceleration and Inclusion law.
It netted P1.772 trillion in 2017, up 13 percent from the previous year. The result, however, was short of the P1.829-trillion target.
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