BIR-13 revises tax collection targets for August, September

CEBU, Philippines - The tax goals of the Bureau of Internal Revenue-13 in Cebu City and other revenue regions for months of August and September have been revised.

BIR-13,  which collects taxes in Cebu and Bohol,  now has a collection target of P2.06 billion for last month and P2.13 for this month. It initially had a tax take goal of P2.23 billion and P1.96 billion for August and September, respectively.

The BIR said revenue-collection targets for the said months were adjusted to “align the monthly goal allocations with the reporting of actual collection performance” of the agency, it noted in Revenue Memorandum 17-2015 it recently released.

The monthly collection targets for income taxes were also revised.

BIR-13 is now tasked to collect P1.4 billion and P1.3 billion in income taxes for last month and this month, respectively. 

The collection goals of the Large Taxpayers Division-Cebu were also revised to P3.35 billion and P3.02 billion for August and September, respectively. The Large Taxpayers Service is tasked to collect taxes from major taxpayers – mostly corporations – which account for a large share of total state revenues.

Official data showed BIR-13 collected P11.6 billion from January to June this year, with income taxes accounting for more than half of the total collection. The collection was up 8% from what it collected in the first half last year but fell short by 11% of its target for the period.

Collections of the national BIR in the first semester this year hit P705.87 billion, up 10% compared to last year but 13% short of its target for the period. (FREEMAN)