GMA cites BIR gains

President Arroyo lauded the Bureau of Internal Revenue (BIR)’s performance in pump-priming the country’s economy, which recently gained a positive feedback from local and international ratings firm.

In her speech at the oath taking ceremonies of newly appointed presidential anti-graft chairman, Dario Rama and Bureau of Customs head, Antonio Bernardo, President Arroyo praised the BIR for having achieved its collection target for 2001 and the impact of the on-going transformation program initiated by Commissioner Rene G. Bañez.

"Commissioner Bañez submitted the agency’s concrete programs and has been carrying it out, resulting in achieving internal revenue collections higher than the target. It has also been acknowledged by the international credit risk agencies that have upgraded the Philippines’ rating. I congratulate him and urge him to continue his work which, impressive as it is so far, and has an additional potential for optimization," President Arroyo said.

The BIR, as the premier tax collection agency, is also tasked by the Arroyo administration for immediate results in fighting graft and corruption. "We need not just studies but actual results, as well. Our people are clamoring that we have to catch the big fish," she said.

The positive development in the BIR’s performance is cited by New York-based Moody’s as "having played a key role in containing last year’s budget deficit" and by SWS, for having a 19-point improvement in its "net sincerity" rating.