BIR beats April collection goal

MANILA, Philippines – The Bureau of Internal Revenue (BIR) beat its monthly collection goal in April, the first time it did so this year.

The tax agency said in a statement on Monday, May 20, it collected P148.99 billion in tax revenues in April, 4.43% higher than its P142.66-billion target.

The collections were also 28.2% more than what it generated in April 2012.

April is traditionally the BIR’s strongest month because of the yearly deadline for filing income tax returns.

The BIR missed its collection targets for the months of January to March. It raised P244 billion during the period, 10% below its P267-billion goal, but 6.6% higher than its collections in the first quarter of 2012.

Operations, non-operations

Of the total collections in April, revenues from BIR operations reached P145.64 billion, up 28.4% year on year.

Collections by the agency’s regional offices amounted to P52.02 billion, up 31.9% from April 2012.

Collections from non-BIR operations or taxes imposed on government securities grew 19.87% to P3.35 billion.

2013 target

The bureau is optimistic it can hit its revenue goal for 2013.

The BIR is tasked to collect P1.253 trillion for the year, over 17% higher than its P1.066-trillion goal in 2012.

To shore up collections, the agency intensified its crackdown on tax evading self-employed professionals as well as small and medium enterprises. – Rappler.com