BIR surpasses July collection target by 5.09%

The Bureau of Internal Revenue (BIR), the government’s main tax collection agency, saw its revenues last month surpassing its target.

In a statement on Tuesday, the BIR said it collected P273.134 billion in July, overshooting its collection target by 5.09% or P13.224 billion for the period.

Moreover, the bureau’s July collection was higher by 38.37% or P75.744 billion than its collection in the same month last year.

For the January to July period, the BIR collected a total of P1.492 trillion, up 12.21% or P162.404 billion year-on-year.

For the entire year, the BIR set a target of P2.639 trillion, higher by 12.99% or P303.5 billion than its actual collection in 2022.

“With the intensification of the Bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, and with our newly-forged partnership with multi-sectoral groups for the enhancement of taxpayers’ service, we are confident that the BIR can attain, if not surpass, its annual collection target this year,” said BIR Commissioner Romeo Lumagui Jr. —Ted Cordero/KBK, GMA Integrated News