BIR misses February target

MANILA, Philippines  - The  Bureau of Internal Revenue on Tuesday announced that its collections in the month of February were below target.

In a statement, the BIR said it collected P74.52 billion in tax revenues, P5.82 billion or 8.48 percent more than collections  made in February 2012. The collections, however, were 3.37-percent lower than the target collections of P77.12 billion for February.

"For February 2013, collections from BIR operations amounted to P72.42 billion, P11.06 billion or 18.03 percent more than collections made in February 2013 of P1.22 billion or 1.65-percent less than the goal set for BIR operations for February 2013 of P73.64 billion," the BIR added.

Collections from non-BIR operations, however, amounted to only P2.1 billion or 71.39-percent less than collections made in February 2012.

Collections by the regional offices reached P27.13 billion or P4.74 billion or 21.17 percent more than the collections made in February 2012, continuing with the previous year's trend of double-digit growth  registered by the Regional Offices.

Collections by the Large Taxpayer Service amounted to P45.29 billion.