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Manila Bulletin devider Philippines devider National devider BIR collects P1-T in first five months of 2023

BIR collects P1-T in first five months of 2023

Published Jul 13, 2023 05:34 am
The Bureau of Internal Revenue (BIR) has raised more than P trillion in the  first five months of this year. BIR Commissioner Romeo D. Lumagui, Jr. said the total collection from January to May this year amounted to P1.056 trillion, which he sad, reflected a notable increase of P94.4 billion or 10 percent compared to the same period last year. "This accomplishment also surpassed the collection target for January to May by over P1.3 billion," said Lumagui. The officials then expressed confidence that the agency will be able to surpass the collection target by intensifying efforts to combat the circulation of counterfeit invoices and receipts among sellers and buyers. "We are confident of hitting the collection target and may even breach it through intensified tax collection particularly against sellers and buyers of fake invoices and receipts," said Lumagui. Fiscal authorities have assigned the BIR, the primary tax collection arm of the government, with the responsibility of raising nearly P2.6 trillion  this year.
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