THE Bureau of Internal Revenue (BIR) said its January-to-October collections rose by 11 percent on an annual basis to over P2.1 trillion, driven by its digitalization efforts and campaign against fake receipts.
The BIR said its total revenue collections during the 10-month period reached P2.132 trillion, or P213 billion higher than the P1.919 trillion recorded in the same period of last year.
“With the intensification of the Bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, and with the continuous streamlining and digitization of the BIR’s core services, we hope to encourage all non-compliant taxpayers to comply fully with the provisions and requirements of the tax laws so we can attain, and even surpass, our annual collection target this year,” BIR Commissioner Romeo D. Lumagui Jr. said in a statement on Tuesday.
In October alone, the BIR said it collected P274.429 billion, almost 47 percent higher than the P186.759 billion it posted in the
same month last year. The higher earnings allowed the BIR tosurpass its collection target by P21.654 billion.
For this year, the BIR is tasked to collect at least P2.639 trillion in revenues, nearly 13 percent over its P2.3355 trillion actual full-year collections last year.
BIR officials earlier disclosed that the bureau is banking on increased consumer spending during the holiday season and higher government spending in the remaining months to meet its P2.6-trillion revenue-collection target this year.
BIR Assistant Commissioner Jethro M. Sabariaga said the bureau remains optimistic that it will hit collection targets this year on the back of better economic activities. (Related story: https://businessmirror.com.ph/2023/10/27/bir-holiday-spending-to-bring-revenues/)
Based on end-October figures, the BIR needs to collect a combined amount of P507 billion in November and December to meet its full-year revenue target.
The BIR is behind its revenue collection target in the nine months ending in September, according to latest Bureau of the Treasury (BTr) data.
Treasury data showed that the bureau collected only P1.858 trillion out of its P1.933 trillion programmed target for the January to September period.