BIR misses May tax collection target
MANILA, Philippines – The Bureau of Internal Revenue (BIR) collected P111.9 billion in tax revenues in May, 18% higher than the same period last year.
However, the BIR failed to meet its May collection goal of P115.12 billion by 2.8%. This comes after strong collection in April, as taxpayers beat the deadline for tax payments.
In May, collections from BIR operations amounted to P109.51 Billion, 18.69% higher than year-ago figures. But this was still 1.28% lower than the P110.93 billion goal set for BIR operations for May.
Collections from non-BIR operations reached P2.39 billion, or 4.57% higher than year-ago figures.
Collections by the regional offices hit P36.08 billion, or 24.4% more than the collections made in May 2012.
Collections by the large taxpayers unit reached P73.42 billion, 16.07% higher than the collections made in May 2012.