CEBU, Philippines - The Bureau of Internal Revenue 13 fell short of its targeted revenue collections in January by 3.21%.
Latest data from the local agency showed that it collected P2.099 billion, 3.21% short of the goal of P2.17 billion set for January 2015.
However, the January 2015 tax collection is 20.38% higher compared to taxes collected in January 2014 of P1.74 billion.
Of the five revenue district offices – north and south Cebu, Mandaue City, Talisay City and Tagbilaran City, Bohol – under BIR 13, north Cebu collected the biggest amount of taxes totaling P933.9 million but fell short of its P941.5-million goal.
Only Tagbilaran City exceeded the January collection target by 22.49% to P150.6 million versus its goal of P122.9 million. The other four district offices missed their targets.
BIR 13 Director Hermeno Palamine said that it does not really matter whether the revenue region hits its monthly target or not. The important thing, he said, is for the agency to meet the overall tax goal for the year.
For 2015, BIR 13 targets to rake in revenues of P25.9 billion, up by 25% compared to last year's tax collection target.
BIR data detailing the revised total collection goal allocations for revenue regions also showed that BIR 13 is set to collect P17.3 billion in income taxes, P5.9 billion in value-added taxes, P1.4 billion in other taxes, P1.2 billion in percentage taxes and P3.995 million in excise taxes.
Meanwhile, the Large Taxpayers Division in Cebu also targets to collect taxes of P26.15 billion from corporations and individuals paying big taxes.
Year-on-year
However, BIR 13 exceeded its tax collection goal in 2014 by 1.05%, hitting its P20.9-billion target last year, preliminary data showed.
Palamine revealed the local bureau had collected P21.1 billion in revenues last year, up by around P200 million over its revenue goal.
But these are still considered tentative figures as the tax agency still has to undergo a reconciliation process, Palamine said.
“Moagi pa siya og reconciliation process pero more or less mao na na ang figures,” the official said.
In a separate interview, BIR 13 collection division chief Zenaida Pancito explained that reconciliation happens as there are collections that have not yet reflected in the system of the Bureau of Treasury where all collected revenues go through.
Palamine noted the 2014 tax collection posted a 22% growth rate compared to the collection in 2013 when BIR 13 missed its overall goal due to major calamities that hit the region during that year.
In 2013, it had collected P17.285 billion, a 9.24% short of its P19.046-billion goal.
“In spite that, our [average] growth rate in terms of collection is high,” the director said.
BIR 13 posted collection growth rates of 15% and 20% for 2013 and 2012, respectively.
Palamine said BIR 13 is one of the two revenue regions – the other one is BIR 5 Caloocan City – that hit their respective 2014 revenue goals.
He though claimed that the bureau had failed to hit some of its monthly targets last year especially during the lean months.
But for him, hitting the yearly target is more important than achieving the monthly goal.
This year, BIR 13’s revenue target has increased by 25% to P25.9 billion from last year’s goal of P20.9 billion. Revenue region 13 covers northern and southern Cebu, cities of Mandaue and Talisay and Bohol.
Majority of the revenues come from income taxes, followed by value-added taxes, other taxes, percentage taxes and excise taxes.
The BIR director also reiterated his call to the taxpayers to pay and file their income tax returns as early as now before the April 15 deadline.
The local tax bureau will officially kick off the filing season on March 19 in SM City Cebu. (FREEMAN)