DOF sees BIR hitting ₧2.599-T target

This February 7, 2023, photo shows President Ferdinand R. Marcos Jr. (right) talking to House Speaker Ferdinand Martin G. Romualdez during the launch of the of the National Tax Campaign at the Philippine International Convention Center, Pasay City.

FINANCE officials are confident that the Bureau of Internal Revenue (BIR) will achieve or even surpass its P2.599-trillion target revenue collections for this year on the back of an improving economy and digitalized taxpaying services.

Finance Secretary Benjamin E. Diokno did not mince words in pronouncing that the BIR’s target revenue collections would be easily met by the bureau this year.

Diokno pointed out that the improving economy of the Philippines would allow the internal revenue bureau to meet its target collections.

“The stronger the economy, the higher the revenues,” he told reporters on the sidelines of the launch of the BIR National Tax Campaign 2023 last Tuesday.

BIR Commissioner Romeo D. Lumagui Jr. expressed the same confidence as Diokno’s, emphasizing that the bureau’s digitalization efforts would provide convenience to taxpayers, leading to higher tax filings.

“We will provide excellent taxpayers service. We will focus on providing convenience to our taxpayers,” Lumagui told reporters in an interview.

“We are serious with that and of course our digitalization efforts toward good taxpayer service. Once we accomplish that and provide convenience, the taxpayers will voluntarily comply with their tax obligations,” Lumagui added.

Lumagui pointed out that the BIR is fast-tracking its digitalization program in order to complete it ahead of its target of 2028.

“We are working doubly hard to complete all the projects as early as possible,” he added.

The BIR was able to collect P2.34 trillion last year, 12.17-percent higher than the P2.086 trillion it collected in 2021. Lumagui attributed the higher collections last year to the “digitalization efforts” of the bureau.

Diokno said the national government’s tax-to-GDP ratio now stands at 14.6 percent and is on track to meet the 17.1 percent target by 2028. The Finance Secretary urged taxpayers to take advantage of digital channels in filing their income tax returns and tax dues.

Image credits: Malacanang News and Information Bureau


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