SUMMARY
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MANILA, Philippines – The Bureau of Internal Revenue (BIR) surpassed its target collections for the month of December, but missed its goal for full-year 2013.
The country’s largest revenue-generating agency said Wednesday, February 19, it collected P96.63 billion in December, 6.44% higher than target and 9.1% more than the collections recorded in the same month of 2012.
For 2013, it raked in P1.217 trillion, 2.95% less than target. This was however 15% higher than what was booked in 2012.
The agency is hard-pressed to shore up tax collections so the government can further trim down its budget deficit and accelerate spending for vital infrastructure and social services.
BIR missed last year’s target as collections from both operations and non-operations, which include debt issues made by government, fell short of goals. – Rappler.com
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