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?
BIR falls short of January revenue goal
AFP Photo
MANILA, Philippines – The Bureau of Internal Revenue (BIR) missed its January tax collection target by over P6 billion.
The country’s main tax agency collected P94.74 billion in January, 6% below its P100.93-billion goal for the month.
The collections however were 11% higher than the P85.15 billion the bureau generated in January 2012, BIR Commissioner Kim Henares said.
The BIR raked in P89.03 billion from its core operations, and P5.71 billion from non-BIR operations, which were primarily taxes on securities issued by the Treasury.
The BIR is tasked to collect P1.253 trillion in 2013, over 17% higher than its P1.066-trillion goal in 2012.
This takes into account additional revenues from higher “sin” taxes or taxes imposed on tobacco and alcohol products. – Rappler.com
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