Despite tax return deadline, BIR misses April collection goal

May 15, 2012 11:02 AM PHT

Rappler.com

SUMMARY

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The tax agency usually books the highest monthly tax take in April because of the deadline for filing income tax returns

MANILA, Philippines – Revenue collection of the Bureau of Internal Revenue (BIR) fell below target in April, a traditionally strong month due to the annual deadline of filing income taxes.

The country’s main tax agency collected P116.22 billion in April, 5.3% lower than its collection goal of P122.8 billion.

This was, however, 12.41% more than the collection it made in April 2011.

This brings the total collections for the first 4 months of the year to P345.26 billion, around 32% of BIR’s total collection goal of P1.066 trillion for 2012.

In the first 3 months of the year, the BIR collected P229.04 billion, also missing its P232.67 billion target for the period.

The Aquino government is banking on better tax administration through a name-and-shame campaign to meet its revenue targets and fund vital social services this year. – Rappler.com