Despite tax return deadline, BIR misses April collection goal

Rappler.com
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

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