BIR exceeds June target tax collections

MANILA, Philippines – The tax agency collected P81.34 billion for June, 7.88% higher than the target of P74.5 billion for the month.

This brings tax collections by the Bureau of Internal Revenue (BIR) for the first 6 months of the year to P521.16 billion, or 13.79% higher than tax collections in the same period in 2011.

The January-to-June tax collections account for 49% of the target P1.066 trillion BIR collections for 2012.

On Thursday, July 12, the BIR said that of its June collections, which is 21.6% higher than collections in same month in 2011, came from the following:

• Large Taxpayers Service, which is source of bulk of total tax collections, amounted to P50.83 billion, exceeding June goal by 6.37% and higher by 20.26% than collections made in June 2011.
• Regional Offices collections posted another double-digit growth with P28.09 billion collections for June exceeding goal by 8.63% and 25% more than collections made in June 2011.

The BIR collects about 3/4 of the government’s total revenues, which funds government services, including education, security, social services, infrastructure, among others.

“We are intensifying our efforts against delinquent taxpayers. We will be filing cases against them and we will be going after their properties,” BIR chief Kim Henares said.

The BIR has been filing tax evasion cases before the Department of Justice every other week under its Run After Tax Evaders (RATE) program.  – Rappler.com

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