MANILA, Philippines - Tax collections by the Bureau of Internal Revenue (BIR) in November exceeded the agency's goal for the month.

The government's main revenue-generating arm said in a statement on Monday, December 17, it collected P110.77 billion in November, P7.81 billion or 7.59% higher than its P102.95-billion target for the month.

The November 2012 figure was also P18.02 billion or 19.42% more than the BIR's collections in the same month last year.

For the first 11 months, the BIR raked in P969.34 billion, P119.83 billion or 14.11% higher than what it recorded in the same period of 2011.

In November alone, collections from BIR operations amounted to P107.84 billion, up 19.6% from last year and 9.26% higher than target.

Collections from non-BIR operations totaled P2.93 billion, up 13.39% year-on-year, but 31% lower than the agency's goal.

The BIR, which accounts for 3/4 of state revenues, is tasked to collect P1.066 trillion in 2012. - Rappler.com