BIR beats November revenue target

Dec 17, 2012 12:35 PM PHT

Rappler.com

SUMMARY

This is AI generated summarization, which may have errors. For context, always refer to the full article.

The agency says it collected P110.77 billion in November, P7.81 billion or 7.59% higher than its P102.95-billion target for the month

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