BIR collection up by 12% in January to July

THE Bureau of Internal Revenue (BIR) reported that collections in January to July this year increased by 12.21 percent.

The total gross collection during the period amounted to P1.49 trillion (net of tax refund), up by P162.40 billion than the tax collections in the same period last year.

For July alone, collection amounted to P272.13 billion, up by 38.37 percent from the total collection in the same month last year.

The amount collected during the period also exceeded the collection target by 5.09 percent or P13.22 billion.

For this year, the BIR’s collection target amounts to P2.64 trillion.

This is higher by 12.9 percent or P303.50 billion than the 2022 actual collection.

“With the intensification of the Bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, and with our newly forged partnership with multi-sectoral groups for the enhancement of taxpayers’ service, we are confident that the BIR can attain, if not surpass, its annual collection target this year,” BIR Commissioner Romeo Lumagui Jr. said. (PNA)