Instead of giving tax perks to businesses cashing in on the tourism windfall, Finance Secretary Cesar Purisima prefers to fund infrastructure projects meant to improve access to tourist destinations
BIR collects P86-B taxes in October, almost meets target
MANILA, Philippines - The Bureau of Internal Revenues (BIR) collected P86.11 billion in tax revenues in October, the country's main revenue collection agency said in a statement on Monday, November 19.
The tax collections for the month reflected a 22.13% increase from October 2011, and almost met the target of P86.18 billion for the month.
Below is the breakdown of BIR's tax collections in October:
- Regional offices - P33 billion, up 14.13%
- Large Taxpayer Service - P49.96 billion, up 9.93%
- Non-BIR operations - P3.15 billion, up 140.34%
This brought total collections for the January-to-October period to P858.6 billion, accounting for over 85% of the full year P1-trillion target. - Rappler.com
EDITOR'S PICK
-
-
How important is Taiwan for PH?
As economic sanctions loom over the Philippines as a result of the increasing tension between the Philippines and Taiwan what kind of effect will it have on the two countries?
- >Anchor Land Q1 income jumps 13% to P295-M
- >Facebook outlook still muddled one year after IPO
- >2012 metal output down 18%
- >Razon's ICTSI shortlisted for Melbourne port project
- >San Miguel to invest $1.5-B in power plants
- >Customs seizes P25-M fake, expired medicines
- >PH debt rises to P5.3-T in March
