BIR exceeds 5-month collection target
MANILA, Philippines — The Bureau of Internal Revenue (BIR) announced Thursday that it has surpassed its collection target for the January to May 2023 period.
According to a statement released, the BIR collected a total of P1.056 trillion during the first five months of the year, exceeding the set collection goal for the period by P1.331 billion.
In comparison to the same period last year, the BIR also achieved a 9.94% growth in collections, equivalent to P95.454 billion.
BIR Commissioner Lumagui Romeo Lumagui Jr. said the agency is confident that it can reach or exceed the annual collection target in 2023.
"With the intensification of the bureau's tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, we are confident that the BIR can attain, if not surpass, its annual collection target this year," Lumagui said in a statement.
The BIR has set a collection target of P2.599 trillion for the entire year of 2023, representing a 10.95% increase compared to the actual collection achieved in 2022, which amounted to P256.444 billion.
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