BIR tax collection up 11%

MANILA, Philippines - The Bureau of Internal Revenue reported an 11 percent in revenue collection in October from a year earlier, but still missed its tax collection goal for the month.

The BIR said it collected a total of P95.59 billion in tax revenues in October, 4.47 percent lower than the P11.06-billion target for the month. 

Despite missing its monthly collection goals, the BIR has seen an increase in tax revenues every month compared to 2012 levels.

The government’s tax operations reached P93.22 billion last month, up 12.38 percent from October last year. 

Revenues from non-BIR operations, on the other hand, declined 24.88 percent to P2.37 billion.

Collections by the BIR’s regional offices totaled P34.4 billion or 4.71 percent more than last year’s figures.

Collections of the large taxpayers unit amounted to P58.82 billion, an increase of 17.41 percent from the previous year.

In the 10 months through October, the BIR’s total tax collections already reached P993.54 billion.

The BIR remains confident it can hit its 2013 collection goal of P1.25 trillion as it intensifies its drive against tax evasion. 

The agency has also tightened its audit of industries and self-employed professionals as part of efforts to shore up tax collections. 

Aside from this, it continues to file tax evasion cases against erring individuals as part of its Run After Tax Evaders (RATE) program.

This year’s collection goal, which is 18 percent higher than its actual collection of P1.07 trillion last year, takes into account the P34 billion in additional revenues from higher taxes on alcohol and tobacco products that took effect this year. 

The assumption is based on a gross domestic product growth forecast of six percent this year.

The large taxpayers unit will account for the bulk of 2013 collections or P768.31 billion.